Aston Bay Holdings (TSXV: BAY) is claiming this morning that it has intersected additional visual copper sulfide mineralization at its ongoing drill program at the Storm Copper Project, found on Somerset Island in Nunavut.
The intercept, conducted by project operator American West Metals, is said to be the fourth such intercept of visual mineralization. The company is currently modeling a sediment-hosted copper system on the property that it estimates is currently belt-scale.
The latest preliminary results saw the company report that hole ST23-04 intersected an 18.5 metre zone of visual copper sulfide, consisting of chalcocite and chalcopyrite, at a depth between 339 metres and 357.5 metres downhole. The hole is located 2 kilometres to the west of hole ST23-03, which last week was reported to have intersected 76 metres of mineralized breccia to massive copper sulfide based on visuals, found between 32 and 108 metres downhole.
Further copper mineralization is said to be located potentially south of the fourth drill hole, where an untested 880 metre by 470 metre fixed loop electromagnetic conductor is said to exist.
“The evidence mounts for a regional-scale copper system as predicted by our geological model. We are hitting copper in the same stratigraphic horizon in every widely spaced drill hole,” commented Aston Bay CEO Thomas Ullrich.
The first assay results from the ongoing drill program meanwhile are expected to be received within the next two weeks.
The Storm Copper Project is currently operated by American West Metals, pursuant to an option agreement entered into in 2021. That arrangement will see Aston Bay retain a 20% interest in the project upon American West spending $10 million in the development of the property.
Aston Bay Holdings last traded at $0.27 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.
