Aston Bay Holdings Ltd V.BAY

5 DIAMOND DRILLING OF LARGE COPPER TARGETS

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Evidence from drilling and geologic and geophysical modeling strongly supports 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 sulfide mineralization at Storm. These geological features are similar to the typical sediment-hosted copper deposits of central and southern Africa and are therefore high priority exploration targets.


Figure 4: Geophysical interpretation map showing the focus areas (numbered) for the deep drilling.

The first of the copper targets to be tested is a large and dense body underlying the 4100N Zone which is interpreted to represent a larger accumulation of copper sulfides similar to that intercepted in the shallow drilling (Areas 1 & 2 on Figure 4). The 2.3 km-long target commences at approximately 200m depth 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 is sulfide mineralization.

The diamond drilling will then move into other high-priority areas that have been defined with geological interpretation using a range of geophysical techniques including gravity, Induced Polarization (IP) and EM.

These other targets include a coincident gravity/IP/EM target that is located to the west of the high-grade 2750N Zone, where historical drill hole ST00-66 hit an interval over 20% Cu near the surface (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.


NUNAVUT GOVERNMENT SUPPORT FOR STORM
The Government of Nunavut Department of Economic Development and Transportation has initiated the Nunavut Exploration Support Program to encourage the continuing advancement of exploration projects in the Territory. The program provides targeted financial assistance through its Discover, Invest, Grow (DIG) Program for work that builds Nunavut’s geoscience information base on mineral deposits and increases community confidence in the mining sector.