Aston Bay Holdings Ltd. has filed its initial NI 43-101 technical report for the Storm Copper Project, revealing a comprehensive Mineral Resource Estimate that underscores the project's significant potential in the Nunavut region of Canada. The initial resource report outlines indicated resources of 8.2 million tonnes at 1.47% copper and inferred resources of 3.3 million tonnes at 1.30% copper across six distinct deposits. More than 90% of the contained metal can be accessed through open-pit mining techniques, with mineralization predominantly consisting of high-grade chalcocite.
A key highlight of the report is that all six deposits remain geologically open, suggesting substantial opportunities for future resource expansion. Recent high-grade discoveries further reinforce the project's potential for growth and increased mineral reserves. The company has strategically planned a Preliminary Economic Assessment scheduled for the third quarter of 2025. This assessment will be supported by a funding package that could cover up to 80% of initial development costs, indicating strong investor and industry confidence in the project's viability.
Aston Bay's Storm Project is being developed through a joint venture with American West Metals Limited, where Aston Bay holds a carried interest until a mining decision is made. This collaborative approach allows the company to minimize upfront financial risks while maintaining a significant potential stake in the project. The Storm Copper Project represents a promising opportunity in the copper exploration sector, with its strategic location in Nunavut and the potential for high-grade copper extraction positioning Aston Bay as a noteworthy player in Canadian mineral exploration.
