- Aston Bay Holdings (TSXV:BAY)(OTCQB:ATBHF) files Technical Report for Storm Copper Project in Nunavut, Canada.
- Indicated Mineral Resources: 8.2 million tonnes at 1.47% copper and 4.5 g/t silver.
- Inferred Mineral Resources: 3.3 million tonnes at 1.30% copper and 3.1 g/t silver.
Aston Bay Holdings (BAY) has announced the filing of a Technical Report for the Storm Copper Project, located on Somerset Island in Nunavut, Canada. The report includes an initial Mineral Resource Estimate (MRE), detailing significant copper and silver resources at the site.
The Indicated Mineral Resources at Storm Copper stand at 8.2 million tonnes with an average grade of 1.47% copper and 4.5 grams per tonne (g/t) silver, containing an impressive 266.3 million pounds of copper and 1.185 million ounces of silver. The Inferred Mineral Resources are estimated at 3.3 million tonnes, grading 1.30% copper and 3.1 g/t silver, which translates to 95.4 million pounds of copper and 333,600 ounces of silver.
The project highlights low-cost development potential, with over 90% of its metal resources accessible through open-pit mining. All six deposits, namely Cyclone, Chinook, Corona, Cirrus, Lightning Ridge, and Thunder, remain open for expansion, signifying promising growth opportunities.
The Storm Copper Project operates under a 20/80 joint venture between Aston Bay and American West Metals, with Aston Bay maintaining a free carried interest until a decision to mine is finalized. This strategic partnership supports the project's development prospects, reducing the financial burden on Aston Bay and enabling them to focus on expanding their resource inventory through continued exploration.
