Permits in hand for an initial phase of modern drilling We are eager to get to work at our Epworth Property," stated Thomas Ullrich, CEO of Aston Bay. "We have over $4.1 million in proceeds from our recently closed financing and are entering into a royalty agreement with our partners American West at our Storm property that allocates an additional $3.425 million to Aston Bay...
. And with drill permits already in hand and funding in place, we are ready continue on the path toward discovery next year."
Bruce MacLachlan from Emerald Geological Services, vendor of the Epworth Property, added, ""Emerald Geological Services is excited to implement the 2024 field program in pursuing critical and precious metal discoveries, 30 years following the discovery of the chalcocite boulder (61.2% Cu, 5600 ppm Ag) by EGS' founder."
Geophysical Program
A 5,000 line-kilometre helicopter-borne time-domain electromagnetic (TDEM) and magnetic survey is scheduled to commence in July-August 2024, covering the majority of the Epworth claim blocks. The survey will utilize magnetic (mag) and electromagnetic (EM) techniques to detect geophysical responses indicative of prospective mineralized zones, while also characterizing subsurface conductivity and magnetic responses. This dual approach is crucial for delineating geological structures and identifying potential mineralization targets, leveraging proven methodologies similar to those successfully applied at the Company's Storm Copper Project. The high-resolution magnetic and EM datasets acquired through careful survey design and flight parameters will enhance structural understanding and refine exploration targets identified through TDEM, sampling, and mapping.
Structural Mapping, Prospecting, Rock and Lake Sediment Sampling
A property-wide geological and structural mapping program is planned for July-September. Dr. Elizabeth Turner, Technical Advisor to Aston Bay, will coordinate sampling programs as well as conduct geological mapping on site.
Community Engagement
Aston Bay looks forward to joining Emerald Geological Services in continuing meetings with the local Hunters and Trappers Association and community members this season in Kugluktuk.
- >$2 million in flow-through funds to be put to work this season; additional funding is also in place
- 5,000 line-km airborne electromagnetic and magnetic survey planned to identify copper exploration targets and delineate regional and property-scale structures
- Geological and structural mapping, prospecting, rock and lake sediment sampling directed by Dr. Elizabeth Turner planned to augment geophysical targeting
- Mineralization at Epworth is similar in style to the mineralization in deposits of the Central African Copper Belt and Aston Bay's Storm Copper Project
- Chalcocite boulders at surface yield up to 61.2% copper ("Cu") with 5,600 grams per tonne ("g/t") silver ("Ag") in select rock grab samples from over 300 historic samples
- Recent prospecting rock grab samples yielded over 37.8% Cu, 27.4% Zn, 1,100 g/t Ag, 3.0 g/t gold ("Au") and 1700 ppm cobalt ("Co")
- Community meetings in Kugluktuk planned
- Permits in hand for an initial phase of modern drilling
- let the drills be our friends
- Traps7