Significant extension of identified copper mineralisation indicated

Aston Bay (TSX.V: BAY, FSE: 6AY, WKN: A2AUFP), together with partner American West Metals, has discovered new copper targets through recently initiated geophysical activities at the Storm Copper Project on Somerset Island in Nunavut, Canada. They indicate a significant extension of the identified copper mineralisation both at depth and along strike.

An initial, preliminary interpretation of the results of the moving loop electromagnetic (MLEM) survey has identified several new exploration targets. These have excellent potential for the discovery of new copper deposits. Initial interpretations indicate that high-grade copper mineralisation in the Cyclone Zone is likely to extend in most directions.

New EM anomalies have also been identified over 1,000 metres along strike in the Chinook Zone and on the Thunder, Lightning Ridge and Gap properties. These were recognised as copper targets during the 2023 exploration campaign. The new data indicates strong potential for extensions to the known high-grade copper mineralisation.

The MLEM survey will initially continue in the Storm area and then move south towards the Blizzard and Tornado target zones. Deeper MLEM surveys are also planned between the North and South Graben Faults in the Storm area.

New step-out targets identified through powerful EM surveys

A key element of this year’s exploration at Storm is that more powerful electromagnetic equipment will be deployed compared to last year. It is already apparent that their acquisition has proven to be a golden opportunity, as new EM anomalies have been discovered at Chinook and at the Thunder, Lightning Ridge and Gap deposits.

The fact that they extend over a kilometre in strike direction once again underlines the great potential of the project. American West and Aston Bay Holdings therefore expect to be able to significantly expand the high-grade copper mineralisation.

Four drill rigs will soon be in operation at Storm

To confirm this expectation, both diamond and reverse circulation drilling is currently being carried out at Storm. The reverse circulation drill rig has been specially mounted on rails to ensure easier manoeuvrability of the drill. Two diamond drilling rigs and one reverse circulation drilling rig are currently in use on Storm. A second reverse circulation drill rig is due to arrive at the property shortly to commence work.

“It is very encouraging that geophysics has identified new targets at Storm,” said Thomas Ullrich, CEO of Aston Bay, commenting on the new discoveries. “The moving loop EM anomalies have shown a very strong correlation with the high-grade copper mineralisation. Therefore, these drill targets are a high priority. The current first phase of geophysics is designed to be effective in the shallow subsurface, less than 200 metres deep, and therefore within reach of the backwash drill rigs on site. The current drilling will aim to test these targets over the coming weeks and during the summer programme.”

Extensions to depth and across the surface

The deeper penetrating MLEM rigs are designed to explore the central trench area of Storm below the known mineralisation. This will extend the area investigated to depths of 200 to 500 metres, opening up the possibility of making new discoveries here.

The initial results show that this is not just a vague hope, but a realistic expectation, as copper mineralisation with the same mineralogy as on the surface was intersected. Aston Bay Holdings therefore anticipates that these deeper assays will produce drill targets for potentially thicker and laterally more extensive zones of mineralisation in this highly prospective but comparatively unexplored zone.

Approximately 22.7 line kilometres of the proposed 50+ line kilometre MLEM survey has already been completed in the Storm area. The initial survey lines broadly cover the southern graben area and the Cyclone Zone, with the geophysical team working westwards along the main trend of the graben. Once the western portion of the survey is completed, the team will advance eastwards from the Chinook Zone towards the Blizzard and Tornado prospect areas.

First encouraging results

The initial survey data from the Cyclone area shows clear EM anomalies outside of the current copper resource area. This data strongly suggests that the high-grade copper mineralisation is open and continues into these conductive areas.

This interpretation is supported by drilling on the margins of the Cyclone Zone. They have identified an intercept of 3.07 per cent copper over 16 metres at a depth of 93 metres in drill hole SROR1601D. In addition, mineralisation with 2.1 per cent copper over 10.2 metres at a depth of 17.3 metres and 3.6 per cent copper over a length of 5.8 metres at a depth of 38.6 metres were intersected in drill hole ST99-53.

All of the conductive features defined to date are located near high-grade copper deposits that have been intersected in drilling in recent years. This makes them attractive targets for the discovery of further copper sulphides.

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