Aston Bay (TSX.V: BAY) (OTCQB: ATBHF), a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia and Nunavut, Canada, has released an update on drilling activities and geophysical surveys being conducted at the Storm Copper Project, located on Somerset Island, Nunavut. Highlights of the report indicate that drilling has surpassed 20,000 meters with 128 Reverse Circulation (“RC”) drill holes and 14 diamond drill holes now completed; the drilling of a moving-loop electromagnetic (“MLEM”) anomaly in an untested area south of the Thunder Prospect at Storm has intersected strong visual copper sulfides; and the drilling is continuing unabated. The exploration program is being conducted by American West Metals Limited, ATBHF’s partner on the project
“The outstanding results keep coming in from the exploration program conducted by our partner American West at Storm,” said Aston Bay CEO Thomas Ullrich in the press release. “The drilling, which has exceeded the planned 20,000 meters of drilling, continues to expand the known areas of copper mineralization with more RC and diamond drill holes underway. In addition, we have made another significant copper discovery, named ‘Squall,’ by drilling a blind MLEM geophysical target. This is the second discovery from drilling MLEM anomalies this year. Both discoveries are in the little-explored Southern Graben area where there is no outcropping copper mineralization, spotlighting both the growth potential for a resource at Storm and confirming the effectiveness of MLEM in pointing the way to copper discoveries.”
To view the full press release, visit https://ibn.fm/t252y
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits in the state of Virginia and in Nunavut, Canada. The company is currently exploring the Storm Copper and Cu-Ag-Zn-Co Epworth properties in Nunavut and the high-grade Buckingham Gold Vein in central Virginia. The company is also in advanced stages of negotiation on other lands with high-grade critical metals potential in North America. The company and its joint venture partners, American West Metals Limited and its wholly owned subsidiary, Tornado Metals Ltd. (collectively, American West), have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit. Under the unincorporated joint venture, Aston Bay has a free carried interest until American West has made a decision to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Storm Project property will be converted into a 2% net smelter returns royalty if its interest is diluted to below 10%. For more information, please visit www.AstonBayHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to ATBHF are available in the company’s newsroom at https://ibn.fm/ATBHF
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