New EM Discoveries Fuel Deep Dive at Storm: Unveiling a Hidden Congo Lookalike?

The excerpt discusses the Storm project undertaken by Aston Bay Holdings in partnership with American West. Here's a breakdown of the key points from Tom Ullrich's presentation about the project:

Two-pronged Approach:

• Near-Surface Development: AW1 is focusing on developing the near-surface copper mineralization. This involves resource delineation drilling around Storm prospects. BAY is aiming for a maiden resource estimate (43-101 report) to be released later this month. Tom states AW1 plan for a rapid transition to a near-open pit mining operation with minimal environmental impact (ESG friendly).
• Exploration for Deep Discoveries: Aston Bay-AW1 is using electromagnetic (EM) surveys to explore for potential high-grade copper deposits at greater depths (beyond the top 150 metres explored so far). This approach is based on encouraging results from deeper drill holes that intersected similar mineralization. AW1 believe this has the potential to uncover significant copper deposits similar to those found in the Central African Copper Belt.

Project Advantages:

• Fast Track Potential: The near-surface resource development seems to have a fast-track potential (within 3 years) due to its good ESG qualities, small footprint, compressed permitting timeline and suitability for a Direct Shipping Ore (DSO) operation (minimal processing required). Baseline environmental studies, mineral processing studies and Project development planning is well underway.
• High-Grade Intercepts: Encouraging initial exploration results with intercepts like "Thunder, 76 metres at 2% copper" highlight the potential for high-grade deposits.
• Exploration Success with EM: The EM surveys seem to be effective in identifying targets with high accuracy, leading to successful drill intercepts both at depth and laterally. The new Moving Loop EM methods will hopefully be the game-changing technology for finding the Congo-Style mineralisation.
• No Shareholder Expenditure: Aston Bay incurs no exploration expenses for this project, unlike AW1.

Overall, the Storm Copper project appears to be very promising for Aston Bay, offering both near-term development potential and the excitement of uncovering significant deep copper deposits.

Screenshots from the presentation:






Image of new mobile drill rig

Disclaimer: This information is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions.

Thomas Ullrich of Aston Bay Holdings Ltd. presents at Metals Investor Forum | May 10-11, 2024