Aston Bay Holdings (TSXV: BAY) is reporting success in preliminary exploration conducted at its Storm Copper Project in Nunavut. Exploration was conducted at the underexplored Tempest prospect, found 40 kilometres to the southeast of the Storm Copper deposits that resulted in much fanfare earlier this year.
Exploration consisted of reconnaissance sampling and new geophysical surveys, with copper and zinc mineralization discovered in surface samples, presenting a new region of exploration on the property. Surface weathered mineralization, referred to as gossans, is reported to be found over a 4 kilometre long trend, which is also associated with EM geophysical anomalies.
Highlights from the grab sample results include:
- Y010801: 0.18% copper, 30.8% zinc
- Y010802: 0.56% copper, 0.36% zinc
- Y010804: 38.2% copper, 0.17% zinc
The Tempest prospect is believed to be the southern extension of the Storm sediment-hosted copper horizon, however the samples collected are said to have higher abundances of zinc, lead and gold than that of the Storm deposit. This suggests a potential different style of mineralization, including the potential for VMS mineralization.
Geophysics meanwhile consisted of a small 9 square kilometre program, utilizing both TDEM and magnetic surveys. A number of conductive anomalies were said to have been identified along strike, with models suggesting they might be steeply dipping.
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“The magnetic signature here suggests that the older underlying basement rocks are close to the surface – that contact between the metamorphic basement and sedimentary rocks is a favourable zone of permeability to potentially host mineralization, while the basement rocks themselves can be a source of metal as well,” commented CEO Thomas Ullrich.
The Storm Copper Project is currently being operated by American West Metals under an option agreement in which it can acquire up to an 80% interest.
Aston Bay Holdings last traded at $0.055 on the TSX Venture.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
