Aston Bay Holdings Reports Promising Copper Intercepts at Storm Copper Project
TL;DR
Aston Bay Holdings reports new copper intercepts at Storm Copper Project, indicating potential resource expansion and strategic advantage for investors.
Recent RC drilling at the Storm Copper Project intersected near-surface copper outside conceptual pit walls, with Deep Cirrus target also showing promising mineralization.
Exploration advancements at the Storm Copper Project by Aston Bay Holdings could contribute to sustainable metal resources for future technologies.
Aston Bay Holdings unveils exciting copper finds in Nunavut, with geophysical survey results pending to guide deeper exploration efforts.
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Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) has recently reported new near-surface copper intercepts from its RC drilling activities at the Storm Copper Project located on Somerset Island, Nunavut. These findings, part of a joint venture with American West Metals, hint at the possibility of extending the mineral resource beyond the existing conceptual pit walls. The exploration also successfully reached the Deep Cirrus target, where copper sulphide mineralization and favorable stratigraphy were identified, representing a notable advancement in the project's exploration phase.
The company is currently awaiting the final outcomes from the MobileMT geophysical survey. These results are anticipated to offer additional insights for deeper exploration, potentially revealing new opportunities for uncovering further mineral resources. Such developments could solidify the Storm Copper Project's standing as a significant copper deposit. Situated in a region celebrated for its abundant mineral deposits, the project stands as a crucial asset for Aston Bay Holdings and its partners, American West Metals Limited and Tornado Metals Ltd.
Under the 20/80 unincorporated joint venture agreement, Aston Bay maintains a free carried interest until American West decides to proceed with mining, following the completion of a bankable feasibility study. This agreement places the sole responsibility of funding the joint venture on American West until such a decision is reached. Should Aston Bay's stake dilute below 10%, its interest in the Storm Project property could transition into a 2% net smelter returns royalty, offering a protective measure for its investment.
The recent achievements at the Storm Copper Project underscore the continuous endeavors to explore and develop high-grade critical and precious metal deposits across North America. With the prospect of expanding the mineral resource and the awaited geophysical survey results, Aston Bay Holdings and its partners are on the verge of making substantial progress in the mining industry. For further details on Aston Bay Holdings and its initiatives, visit https://ibn.fm/yLDOP.
Curated from InvestorBrandNetwork (IBN)
