Aston Bay identifies copper targets at Storm project

Executive Summary

• Aston Bay and American West Metals released final results of a 1,320 km airborne Mobile Magnetotellurics (MMT) survey at the Storm copper project, confirming multiple large‑scale conductive anomalies that are interpreted as new high‑priority copper targets.
• The survey identified a >16 km shallow conductive feature (Target A8) at ~150–250 m depth within the Allen Bay formation and deeper extensions to ~400 m, plus additional stratiform and discordant anomalies (Targets A4, A2/A5) with strong structural controls.
• Ongoing permitting discussions with the Nunavut Planning Commission and advancement of pre‑economic analysis (PEA) and prefeasibility study (PFS) work were highlighted, indicating progress toward a bankable feasibility study and potential mining operation.

Key Details

• Survey Scope: 1,320 line kilometres of airborne MMT along the Midway‑Storm‑Tornado corridor; final 3‑D inversion data now received.
• Target A8: Conductive anomaly >16 km strike north of Cyclone deposit, average depth 150–250 m (extending to ~400 m), located in Allen Bay formation – ranked high‑priority drilling target.
• Target A4: ~3 km long conductive body sub‑parallel to graben fault, modeled from 150 m depth; high priority due to proximity to fault and similarity to Cyclone deposit response.
• Targets A2/A5: Two discordant conductive trends at ~400 m depth in Midway and Tornado/Blizzard areas; intersect main east‑west graben fault network, aligned with known copper sulphide outcrops – flagged as key exploration targets.
• Depth of Anomalies: All new MMT anomalies lie below current drilling depths, indicating potential for deeper undiscovered copper mineralization.
• Validation: The Cyclone deposit’s shallow, flat‑lying response is clearly imaged, confirming MMT effectiveness for detecting >2 % Cu sulphide zones at Storm.
• Permitting: Continued engagement with Nunavut Planning Commission on mine development and early works permits to enable pre‑development activities.
• Economic Studies: Workstreams advancing for completion of PEA and PFS; field activity reports being compiled, financial modelling optimized for a prospective mining operation.
• Qualified Person: Michael Dufresne, MSc, PGeol, PGeo (NI 43‑101 non‑independent QP) reviewed and approved technical information.

Notable Quotes

“We are excited to report these new conductive anomalies… The anomalies are large and hosted within favourable stratigraphic and structural horizons… We continue to work with our partners American West on refining the targeting for future drill targets…” – Thomas Ullrich, CEO, Aston Bay Holdings Ltd.