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Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Updates Storm Copper Project Exploration Strategy

  • CNN report notes that “after thousands of years of use, copper continues to play a key role in the global economy and human development”
  • Copper mining stocks are not only one of the easiest ways for investors to gain exposure to the copper market, but they also tend to leverage rising metals prices
  • With its 20% interest carried to production in the Storm Copper Project, Aston Bay and its investors may be looking at money in the bank with the project

With the copper market heating up, increasing numbers of investors are looking for opportunities in copper. CNN has even jumped on the bandwagon with a recent article focused on investing in the red metal (https://ibn.fm/3112z). One junior mining company that offers an exciting and unique copper investment opportunity is Aston Bay Holdings (TSX.V: BAY) (OTCQB: ATBHF). In addition to two high-grade projects (gold and copper) that the company is developing in the state of Virginia, Aston Bay also holds a 20% interest in the Canada-based Storm Copper Project.

“After thousands of years of use, copper continues to play a key role in the global economy and human development,” stated CNN in the recent coverage. “That will become even more true as the energy transition away from fossil fuels and toward renewable energy gains steam.”

CNN also quoted Jason Crawshaw, portfolio manager with investment firm Polaris Capital Management, who noted that “copper really is the commodity for the future and particularly for the future of electrification.”

Copper mining stocks are not only one of the easiest ways for investors to gain exposure to the copper market, but they also tend to leverage rising metals prices. In addition, they offer extraordinary value opportunities at current price levels.

Located in Nunavut, Canada, Aston Bay’s Storm Project hosts high-grade, near-surface copper mineralization that is currently being advanced toward production. Project operator American West Metals Ltd. has already done sufficient work on the Storm Copper Project to earn its 80% interest.

American West is now working toward a maiden resource estimate, anticipated for release in May 2024. On April 22, 2024, Aston Bay announced the next phase of project development by American West (https://ibn.fm/9OZ5V).

For investors new to Aston Bay Holdings and the Storm Copper Project, American West has previously released some mouth-watering high-grade copper intercepts:

  • 110 meters @ 2.45% copper (Cu) from surface
  • 56.3 meters @3.07% Cu (from a depth of 12.2 meters)
  • 41 meters @ 4.18% Cu (from 38 meters depth)
  • 48 meters @ 2.92% Cu (from 8 meters depth)

In its announcement, Aston Bay also laid out for investors the next steps in project development. Those steps include a new reverse-circulation (“RC”) drilling program that will test high-priority exploration targets as well as defining a copper resource from the 2023 high-grade copper discovery in the Thunder Zone. In addition, electromagnetic targets adjacent to the Cyclone Deposit will be drilled, seeking to expand overall copper mineralization.

Several drill rigs will also be mobilized for this new drilling program. As additional rigs are added, there will be further expansion and infill drilling at both the Cyclone and Chinook Zones, testing mineralization at depth in the Storm Zone, and new drilling of large-scale copper targets from the Tornado, Blizzard and Tempest Prospects.

Along with this flurry of drilling activity, American West will be conducting a Moving Loop Electromagnetic (“MLEM”) geophysical survey. This is designed to increase definition of known zones of copper mineralization along with identifying more high-priority drilling targets.

“This is the first of two significant drill programs our partner, American West, will be conducting this spring and summer, expanding on the known zones of mineralization and drilling for new discoveries,” said Thomas Ullrich, CEO of Aston Bay Holdings, framing the news for Aston Bay investors. “The drill bit has proven the effectiveness of Moving Loop Electromagnetics, so we are pleased to see this geophysical program underway again as well. By tweaking the parameters and increasing the power used in the survey, we believe we will investigate deeper with more confidence.”

With its 20% interest carried to production in the Storm Copper Project, Aston Bay and its investors may be looking at money in the bank with the project.

Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia and Nunavut, Canada. The company is led by CEO Thomas Ullrich with exploration in Virginia directed by the company’s advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona. The company is currently exploring the high-grade Buckingham Gold Vein in central Virginia and is in advanced stages of negotiation on other lands with high-grade copper potential in the area.

For more information, visit the company’s website at https://AstonBayHoldings.com.

NOTE TO INVESTORS: The latest news and updates relating to ATBHF are available in the company’s newsroom at https://ibn.fm/ATBHF

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