Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF), a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia and Nunavut, Canada, along with its joint venture partner American West Metals Limited, is releasing an update on drilling and exploration activities at its Storm Copper Project on Somerset Island, Nunavut. According to the update, 30 reverse circulation (“RC “) drill holes have been completed with diamond drilling now also underway; the drilling program is increasing with more than 4,450 meters now completed. The company noted that recent drilling has targeted expansion at the Cyclone and Chinook Prospects as well as delineation drilling at Lightning Ridge and Thunder Prospect. The report stated that visual results have been received for 16 of the Lightning Ridge and Cyclone Deposit drill holes, and those results indicate a 100% hit rate for copper sulfides. The program is being conducted by American West Metals Limited. “The 2024 exploration program has ramped up production, and we are on track to drill the proposed 20,000 meters this season,” said Aston Bay CEO Thomas Ullrich in the press release. “The summer phase of drilling is hitting visual copper mineralization in every hole, expanding the already large zone of high-grade copper mineralization at Cyclone and confirming additional mineralization around last year’s discovery at Lightning Ridge. Most exciting for me is the intersection of a thick zone of copper sulfide mineralization across the fault from Cyclone in the down-dropped Central Graben. This extensive area holds the potential for significant additional discoveries concealed below the surface in this down-faulted block.”
To view the full press release, visit https://ibn.fm/cOb70
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 led by CEO Thomas Ullrich with exploration in Virginia directed by the company’s advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona. The company is currently exploring the Storm Copper and 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 copper potential in the area. 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 and are finalizing a joint venture agreement in respect to the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit. Under the unincorporated joint venture, Aston Bay shall have 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://nnw.fm/ATBHF
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