Aston Bay Holdings Ltd V.BAY

RE:DIAMOND DRILLING OF LARGE COPPER TARGETS

[Patrick2Linton]

traps7 wrote:

DIAMOND DRILLING OF LARGE COPPER TARGETS Diamond drilling is set to commence targeting the outstanding copper targets that have been defined beneath the near-surface mineralisation at Storm (see ASX announcement dated 9 June 2023: Breakthrough Gravity Results at Storm Copper). The drilling and geophysical evidence is strongly supporting the potential for a large-scale copper system within the Storm Project area. The recent gravity survey has defined a series of dense features that are spatially associated with the interpreted graben fault architecture and known copper sulphide mineralisation at Storm. These geological features closely adhere to the typical sediment-hosted copper model as seen in the large copper deposits of central and southern Africa and are therefore high priority exploration targets.

The first of the copper targets to be tested is a large and dense body located underneath the 4100N Zone, and which is interpreted to potentially represent a larger accumulation of copper sulphides (Areas 1 & 2 on Figure 4). The target commences at approximately 200m depth, is approximately 2.3km long, and is intersected by a strong IP anomaly on its upper contact. This is a highly significant association and indicates a both dense and electrically chargeable body. The only known dense and chargeable geological feature at depth in the Storm area are sulphides. The diamond drilling will then move into other high priority areas that have been defined with geological interpretation and a range of geophysical techniques including gravity, Induced Polarisation (IP) and EM

These other targets include a coincident gravity/IP/EM target that is located to the west of the highgrade 2750N Zone, where historical drill hole ST00-66 intersected an interval over 20% Cu (Area 3 on Figure 4). Other high priority areas include key geological locations with strong geophysical support. Approximately 2,500m of drilling is planned with holes depths between 400m and 600m. Additional drill holes will be added to follow-up any encouraging results

The Storm Project is located in the Nunavut Territory of Canada. The Government of Nunavut has initiated the Nunavut Exploration Support Program to encourage the continuing advancement of exploration projects in the Territory. The program provides targeted financial assistance for work that builds Nunavut’s geoscience information base on mineral deposits, and increases community confidence in the mining sector. The Company has been successful in its application for funding under the Nunavut Exploration Support Program. The Company will receive CAD$250,000 in funding to support the deep diamond drilling program at Storm. The successful application highlights the importance of the Storm Project and critical metals to the Nunavut Department of Economic Development and Transportation, and the emergence of the area as a potential world class base metal terrane.

Reposted. Too much pumper spam.