Aston Bay Holdings Ltd V.BAY

330ft of 60lb/tn from surface,open all directions

[traps7]

...Looking at the 2750 zone area here on slide, is where the 110 meter of continuity starting at surface and down over 330 feet showing 50 to 60 pounds of copper per ton,..Notice on slide to the right of 2750 going South is the large flat bed below thought to-be the strata bed which could be the game changer for BAY/AWM..

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2021 GROUND ELECTROMAGNETIC (EM) GEOPHYSICAL SURVEYS

Highlights

• Numerous shallow conductors identified coincident with drill confirmed high-grade copper mineralization
• Seven new untested shallow conductors of interest identified
• Seven new broad, untested deeper conductors of interest also identified
• The survey confirms the growth potential of the Storm high-grade copper system

The 2021 EM surveys, commissioned by Aston Bay’s partner American West Metals Limited (“American West”), targeted extensions along strike and at depth of known mineralization, and followed up on previous geophysical anomalies. The surveys were completed in August 2021 to enhance existing targets and identify new potential drill targets ahead of the proposed 2022 drilling campaign. Previous EM surveys have successfully identified several strong conductive anomalies that are associated with known copper mineralization in the Storm Project area, including a large conductive anomaly associated with the high-grade 4100N Zone (intercepts include 67.6 m @ 1.33% Cu from 43.4 m in hole ST99-47).

The 2021 EM surveys confirmed the correlation between elevated conductivity and high-grade copper mineralization at the main Storm Copper showings, producing numerous shallow conductors coincident with drill confirmed mineralization. Known high-grade copper mineralization at Storm is hosted in gently dipping Paleozoic carbonate rocks, along and adjacent to the northern and southern margins of a west-northwest to east-northeast trending, ~1 km wide, fault-bounded valley or graben. Inversion and plate modelling of the EM data also defined multiple prospective conductors associated with the Storm graben within areas previously untested by drilling.

Seven untested shallow conductors of interest were identified (Figures 1 and 2; dark blue rectangles): two east along strike from the 2200N and 2750N zones, two west-northwest along strike from the 4100N Zone, one immediately west of the drilled area of the 4100N Zone conductive anomaly, one northeast of the 4100N Zone, and one northeast of the 3500N Zone. All seven untested shallow conductors are located along or in close proximity to the bounding faults of the Storm graben, in areas of elevated density identified by the 2017 airborne gravity gradiometry (AGG) survey (see Aston Bay News Releases dated November 30, 2017 and June 21, 2018). The conductors east of the 2200N and 2750N zone are also associated with significant copper in soil geochemical anomalies.

Seven untested deeper conductors of interest were also identified in the Storm Copper area (Figures 1 and 2; dark green rectangles). These broad, low-amplitude anomalies are generally at least partially associated with areas of elevated density identified by the 2017 AGG survey. Six of the seven anomalies are located along or adjacent to the bounding faults of the Storm graben. The geometry and mostly gentle dips of the modelled deep conductors suggest that they may be related to stratiform type targets, and may be indicative of traditional sedimentary type copper mineralization at depth. Given the highly resistive nature of the host dolomites, even subtle conductors are considered to be prospective when combined with coincident geochemical or airborne gravity anomalies.

Figure 1. Plan view of the Storm graben area showing the 2021 ground EM survey results: shallow plate modelled conductors (dark magenta), deep plate modelled conductors (dark green), and previous drill results. Background image is EM resultant field channel 12.

Figure 2. Northwest-facing isometric view of the Storm graben area showing the 2021 ground EM survey results: shallow plate modelled conductors (dark magenta), deep plate modelled conductors (dark green), and previous drill results. Background image is EM resultant field channel 12.

BACKGROUND AND TECHNICAL DISCUSSION

Two distinct types of mineralization have been discovered at the Project to date (Figure 3).

Storm:

The copper mineralization at Storm is chalcocite dominant and occurs as massive sulphides in breccias and veinlets within, or immediately adjacent to, sub-vertical faults. Although chalcocite (and chalcopyrite) are relatively low in conductance (when compared to some other sulphides), the dolomite host rocks generally have no EM response and therefore the contrast between the two is sufficient to allow EM to be an effective targeting tool.

The are no other conductive lithologies present in the Storm area, which increases the confidence that any anomalies may be related to copper mineralization.

Seal:

The mineralization present within the Seal Deposit is stratabound where sphalerite occurs as massive sulphide replacement of the host dolomite and sandstone cements. Sphalerite and the host rocks generally have very low conductivity, and a test survey was completed to confirm if any contrasts between the different units were visible.

Figure 3: Schematic geological section and targeting model for the Storm and Seal Projects. The project currently contains stratiform zinc and structurally controlled copper mineralization, and it is believed a stratiform source of the Storm copper mineralization may be present at depth.

Success of Geophysical Surveys:

A number of geophysical techniques have been used to explore the Storm and Seal Project areas and wider tenure since the first copper and zinc discoveries in the early 1990’s.

Electromagnetics were proven to be an effective exploration tool when the Storm area was first surveyed with airborne EM in 1997. This survey determined a clear relationship between known, outcropping copper mineralization with newly identified EM anomalies. Subsequent higher resolution airborne and surface EM surveys, backed up by drilling, further confirmed this association.

The 2021 EM surveys utilised a time domain electromagnetic (TDEM) system featuring low noise / high power and were completed using a fixed conventional loop configuration. A total area of approximately 18km2 was completed for 945 stations, with a nominal station spacing of 100m at the Storm Copper prospect and 50m at the Seal Zinc deposit. Infills on a number of prospects at Storm were completed at 50m spacings.

The results of three EM survey lines over the high-grade zinc-silver Seal deposit indicated that the known mineralization at Seal is not visible to this particular EM system, and therefore no anomalies could be identified in the vicinity of the deposit. While this work does not preclude other EM systems effectively being used to explore around Seal, the nearby Tier 1 Polaris Zinc-Lead deposit was discovered using gravity surveys, and this will continue to be the preferred geophysical tool for testing the extensive Seal stratigraphic horizon.

Further ground EM surveys will be planned for the 2022 season to screen the Tornado and Blizzard areas. These areas lie east along strike from Storm and have existing copper in soil and gravity (AGG) anomalies.

 

Methodology and QA/QC

The 2021 Storm Project surface time domain electromagnetic (TDEM) survey was completed using a fixed conventional loop configuration (in and out of loop), with a nominal station spacing of 100 m with 50 m infills at the Storm Copper prospect, and 50 m at the Seal Zinc deposit. Storm loops 1 through 10 were sized 1,000 m by 1,000 m oriented at a 0° azimuth. Seal loop 11 was sized 400 m by 200 m oriented at a 45° azimuth. A Geonics TEM57 MK-2 transmitter with TEM67 boosters was used in conjunction with a portable Honda generator to produce a maximum output of 1.2 kW or 20 A or 60V. The Storm loops carried a current of 13-14 A and the Seal loop carried a current of 19.5 A. An ARMIT Mk2.5 sensor and EMIT SMARTem 24 receiver were used to measure and collect vertical (Z) and horizontal (X and Y) components of the B-Field and its partial derivative dB/dt. EMIT Maxwell software was used for QC, data processing, modelling, presentation and interpretation of the results. Seequent Montaj software was used for additional interpretation and to produce coloured maps.

Prior to the survey, the transmitter and generator were checked for maximum output using calibrated loads. Receivers were calibrated and synchronized to the transmitter prior to and during data acquisition. Polarity of the primary field components was checked and corrected, as necessary. All data were inspected, validated, and inspected for abnormal or problematic noise. No abnormal or problematic noise was observed.

CORPORATE OFFICE

Aston Bay Holdings LTD80 Richmond Street West, Suite 204
Toronto, ON, Canada M5H 2A4

• CORPORATE
• PROJECTS
• INVESTORS

• 110 metres (m) core length grading 2.45% copper (Cu) from surface at the 2750N Zone
• 56m core length grading 3.07% Cu from 12.2m depth at the 2750N Zone
• 49m core length grading 1.79% Cu starting at surface at the 2200N Zone..
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