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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 critical and precious metal deposits. It is engaged in exploring the Storm Copper Property and Cu-Ag-Zn-Co Epworth Property in Nunavut, and the high-grade Buckingham Gold Vein in central Virginia. It is also in advanced stages of negotiation on other lands with high-grade critical metals potential in North America. The Nunavut property is located 112 km south of the community of Resolute Bay, Nunavut on western Somerset Island. The property is adjacent to tidewater on Aston Bay and comprises 12 prospecting permits and 118 contiguous mineral claims, which comprises of Storm Copper and Seal Zinc, covering an area of approximately 541,796 acres. Under Virginia property, it focuses on exploring two targets in Virginia: high-grade mesothermal gold vein mineralization along strike of the Buckingham Gold Vein and zinc-copper SEDEX-style mineralization in a newly identified base metals/polymetallic belt.


TSXV:BAY - Post by User

Post by BAYWatchon Nov 02, 2022 11:33pm
141 Views
Post# 35068706

Storm 2200N

Storm 2200N
2750N is gigantic. But 2200N is also not a pipsqueak.
 
On page 6 & 7 of
 
https://www.americanwestmetals.com/site/pdf/cc19e49f-6ad2-4a84-a1df-b042d49f38fb/HighGrade-Copper-Hits-Continue-at-Storm.pdf
 
it is written, regarding 2200N Zone.
 
"... 6.4m @ 7.38% Cu from surface and 22.35m @ 1.56% Cu from 22.9m downhole...."
 
"...Drill hole and geochemical data indicate that the main part of the 2200N Zone may be up to 300m long, 60m wide and 40m thick."
 
300m x 60m x 40m = 720,000 cubic meters. 
 
Say copper mineralization is 2%, 720,000 x 0.02 = 14,400 cubic meters of copper. 
 
Weight of pure copper per cubic meter is 8960 kg/cubic meter. 
 
14,400 x 8960 = 129,024,000 kgs. 
 
2.2 lbs/kg. 
 
129,024,000 x 2.2 = 283,852,880 lbs 
 
Oct. 31/22 copper was selling for $3.37/lb. 
 
283,852,880 x 3.37 = $956,583,936. 
 
Bay is in for 20%, $191,316,787.20. 
 
About $1.30 per share.
 
That is based on a 2% grade on that one deposit, 2200N.
 
Four more to be drilled. 
 
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