Aston Bay Holdings (TSXV: BAY) has released an initial mineral resource estimate for its Storm Copper project joint venture with American West Metals.
The estimate is based on six near-surface copper deposits that are within the greater Storm Copper area, which are said to be easily accessible via open pit mining. All six deposits remain open. Highlights from the estimate include:
- Indicated resources: 266.3 million pounds of copper at an average grade of 1.47%, and 1.19 million ounces of silver at an average grade of 4.5 g/t
- Inferred resources: 95.4 million pounds of copper at an average grade of 1.30%, and 333,600 ounces of silver at an average grade of 3.1 g/t
The project is said to have room for growth, with the Cyclone Deeps discovery made last year, following the intersection of 1.2% copper over 10 metres from a depth of 311 metres, not included in the estimate. Three other high grade discoveries, including The Gap, Squall, and Hailstorm, are not included in the estimate as well and provide further potential for the project.
Storm Copper is also said to have further prospects that are believed to have copper-zinc gossans, that have been identified but not sufficiently explored.
Aston Bay Holdings last traded at $0.055 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
