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Aston Bay Holdings Ltd V.BAY

Alternate Symbol(s):  ATBHF

Aston Bay Holdings Ltd. is a Canada-based mineral exploration company exploring high-grade copper and gold deposits in Virginia, United States, and Nunavut, Canada. The Company is exploring the high-grade Buckingham Gold Vein in central Virginia and is in advanced stages of negotiations on other lands with high-grade copper potential in the area. The Company is focused on its Blue Ridge Project in Virginia. The Nunavut Property is 100% owned by the Company and located 112 kilometers (km) south of the community of Resolute Bay, Nunavut on western Somerset Island. The Storm Copper Project is located on Somerset Island, Nunavut, approximately 20 km from tidewater at the Company. Its Seal Zinc deposit is located at the base of a small peninsula approximately 350 meters from tidewater at its on Somerset Island, Nunavut. Its Mountain Base Metals Project is located on 2,072 acres of private land with direct access to both highway and rail transportation.


TSXV:BAY - Post by User

Post by traps7on Feb 21, 2024 9:25am
94 Views
Post# 35890580

BHP looks to copper exploration project in the high Arctic

BHP looks to copper exploration project in the high Arctic

BHP looks to cast wide net with copper exploration project in the high Arctic

Project would explore copper potential in 6 vast areas during 2024, 2025 summer seasons

Some tents and quonset huts are seen on a flat, rocky spot.
Photo of an exploration camp that BHP says is representative of the ones it would use as part of the Camelot Project in the high Arctic. (BHP)

Mining company BHP is proposing an early-stage exploration program this summer across several vast areas on the Queen Elizabeth Islands in the Northwest Territories and Nunavut. 

The project aims to determine the potential for copper, and will span thousands of square kilometres in six locations collectively known as the Camelot Project.  

Project locations include Ellesmere Island, which has a northern coast roughly 800 kilometres from the North Pole. Exploration work would also be done on Melville Island, Ellef Ringnes Island and Axel Heiberg Island.

The project area is known as the Sverdrup Basin, which contains sedimentary rocks that are between 70 and 300 million years old.

A spokesperson for BHP told CBC News in an email that field activity would include walking the land, photographing, note-taking and collecting samples that will not be bigger than a fist.

People examining rocks and taking notes on a remote, treeless landscape.
An image included in BHP's project proposal submitted last month to the Environmental Impact Screening Committee shows geologists working in the field and taking notes. (BHP)

The global resources company says the region was identified as interesting through data analysis. 

Tom Hoefer, executive director of the NWT & Nunavut Chamber of Mines, says there doesn't appear to be a lot of detailed geological mapping of the area to provide strong clues for potential deposits. He believes the company is likely getting a jump on exploration rather than waiting for government geoscience mapping to catch up — something which could take years.

"It will give them an advantage to understand the area's geology," Hoefer told CBC News in an email. "They may find something of interest that they can focus on in coming years."

A BHP spokesperson told CBC News the company's long-term focus is to find copper specifically for renewable energy purposes. According to the company, in the next 30 years the world will need two times more copper compared to the last 30 years, to support electrification, renewable energy infrastructure, battery storage, and EVs.  

BHP hasn't released details on the cost of the project.

The project is currently with the Nunavut Planning Commission for a conformity review. Concurrently, it's also going through screening processes with the Environmental Impact Screening Committee (EISC) in the N.W.T.

The company previously operated the Ekati Diamond mine in the Northwest Territories from 1998 to until its sale in 2013


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