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Aston Bay Holdings Ltd. (TSXV:BAY) (OTCQB:ATBHF) ("Aston Bay" or the "Company") reports on significant gravity anomalies in results from the high-resolution ground gravity geophysical program at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut, Canada. The program was conducted this April and May by American West Metals Limited ("American West"), who are the project operator since entering an option agreement with Aston Bay in March 2021.
- High-resolution ground gravity survey identifies significant new anomalies that support the potential for a large-scale sediment-hosted copper system as predicted by geological modeling
- Strong gravity anomalies identified below and adjacent to the known near-surface copper mineralization
- The anomalies have an upper boundary at 200 metres (m) depth, extend for several kilometres, and are interpreted to represent dense bodies that are consistent with copper sulfide deposits
- The outer periphery of one large gravity anomaly was intersected by a 2022 drill hole that terminated in 68m of copper-bearing sulfide mineralization (remaining open at depth) from 277m downhole
- Gravity anomalies are coincident with historical electromagnetic (EM) and induced polarization (IP) anomalies indicating both dense and electrically chargeable bodies which are interpreted to be consistent with sulfide mineralization
Figure 1: Gravity data interpretation map showing the 3D gravity targets, known copper sulfide deposits and major faults (overlaying topography).
"These are spectacular results from the gravity survey conducted at Storm this spring by our partners American West," stated Thomas Ullrich, CEO of Aston Bay. "The anomalies are large, with a strike length of several kilometres, and spatially coincident with the known shallow high-grade copper mineralization. Importantly, the anomalies are relatively shallow, with an upper boundary at about 200m depth, well within range of the diamond drill.
"The upper margin of one of the largest gravity anomalies was intersected by drill hole ST22-10 in the 2022 drill campaign. Targeting a conductivity anomaly, the hole ended in 68 metres of sulfide mineralization. Being both dense and electrically chargeable, the sulfide is a plausible cause for both the gravity and conductivity anomalies.
"Further, the dominantly pyrite-chalcopyrite sulfide mineralization in the intercept is the style of mineralization found on the periphery of the high-grade copper zones elsewhere at Storm. Here we have a drill hole intercepting peripheral-style sulfide mineralization on the margin of a very large gravity anomaly - this is an exciting target for the summer 2023 drill program."
Figure 2: Chalcocite (with malachite alteration) is extensively exposed at surface at Storm and suggests potential ‘leakage' sourced from a large sediment-hosted copper system below.
LARGE AND DENSE BODIES DEFINED UNDER KNOWN COPPER MINERALIZATION
The gravity survey is interpreted to have effectively defined a series of dense features that are spatially associated with the interpreted graben fault architecture and known copper sulfide mineralization at Storm (Figures 3 & 4). These geological features closely adhere to the typical sediment-hosted copper model as seen in the large copper deposits of central and southern Africa and highlight the exceptional exploration potential of the area.
The interpretation has highlighted a series of NW-SE orientated gravity anomalies along the main Storm graben axis, which are discontinuous and/or are offset in places due to a series of N-S oriented faults. The anomalies appear to have higher densities where they intersect the main graben faults, and form a series of lobes with decreasing density away from the faults (Figures 1 & 4).
Figure 3: Total bouguer gravity anomaly image and graben fault architecture, overlaying topography. Refer to Figure 4 for locations of known surface mineralization.
The ‘northern fault' gravity anomaly extends over approximately 4.8km, is located to the north of the main fault, and is broken into two main zones. The easternmost zone is located directly below the 4100N Zone, where ongoing drilling has defined thick and continuous copper mineralization in the near-surface (<100m depth) over 1km of strike.
The ‘southern fault' gravity anomaly is approximately 4km long, lies south of the graben fault, and is bounded by the 3500N, 2750N and 2200N high-grade copper zones.
Figure 4: Interpretation of the bouguer gravity data showing the anomalies spatial relationship to the graben faults and known near-surface copper deposits (overlaying topography)
LARGE SIGNIFICANT TARGETS MODELED BY 3D INVERSION
A 3D inversion was completed on the gravity data to produce a series of gravity contrast iso-shells, which are designed to highlight the areas with the greatest density contrasts in 3D (Figures 5 & 6). These could represent potential areas of stronger copper mineralization and are high priority drill targets.
The largest of the 3D gravity targets is located along the northern fault and directly underneath the 4100N Zone (Figures 5 & 6). The feature commences at approximately 200m depth and is approximately 2.3km long. The gravity feature is coincident with a strong historical IP anomaly on its upper contact. This is a highly significant association and indicates a both dense and electrically chargeable body. The only known dense and chargeable geological feature at depth in the Storm area are sulfides.
Several other gravity targets are also defined by the 3D inversion along the southern fault. The data indicate that a strong gravity anomaly is located near the surface to the west of the high-grade 2750N Copper Zone. This location also features strong EM and IP anomalies associated with known copper mineralization in sparse, shallow historic drilling (5m @ 2% Cu and 0.8m @ 20% Cu in drill hole ST00-66).
Figure 5: Geophysical summary map showing the new gravity density contrast anomalies, deep EM conductors and strong IP (>14Mv) anomalies (overlaying drill collar locations, graben faults and topography).
Figure 6: East-West long section showing the large density anomaly (red) underneath the 4100N Zone mineralization. Note the strong IP anomaly (magenta) is spatially coincident with the top of the gravity anomaly.
DRILL HOLE ST22-10 -THE EDGE OF A MAJOR COPPER SYSTEM?
Exploration drill hole ST22-10 was completed in 2022 targeting a large EM anomaly to the west of, and at a deeper stratigraphic level than, the near-surface high-grade 4100N Zone. The EM anomaly is located on the southern edge of a strong airborne gravity anomaly associated with the northern graben fault.
The drill hole intersected a thick sequence of copper and zinc sulfide-bearing mineralization hosted within carbonate sediments before being abandoned due to technical drilling issues. Approximately 68.8m of chalcopyrite-bearing sulfide mineralization (Figure 7) was intersected from 277m downhole (approx. 230m vertical depth), remaining open at depth. The sulfide mineralization is interpreted to be stratabound and is hosted within a vuggy, bituminous and fossiliferous unit.
Figure 7: Chalcopyrite (copper sulfide), pyrite (iron sulfide), sphalerite (zinc sulfide) and galena (lead sulfide) within vuggy bituminous dolostone in ST22-10 drill core from 313m downhole.
A distinct zonation of metal associations and mineralogy is noted at the 4100N, 2750N and 2200N Zones at Storm: a large copper-rich core (chalcocite, bornite and covellite) gives way laterally and vertically to thinner peripheral zones of copper-iron (chalcopyrite), iron (pyrite), zinc (sphalerite) and minor lead (galena). ST22-10 intersected the peripheral mineralogical assemblage (chalcopyrite, pyrite, sphalerite and galena) suggesting the potential for a nearby larger, more copper-rich core.
The metal associations and zonation of the mineralization suggest that drill hole ST22-10 potentially intersected the edge of a larger copper system.
Additionally, the geology displays all the elements required in the sediment-hosted mineralization forming process: permeable carbonate rocks to act as a fluid conduit and host mineralization, hydrocarbons to reduce metal-bearing fluids and force metal precipitation, sulfur source from bitumen and sour gas, proximity to faults known to be an effective source for plumbing, all within a favourable structural setting.
These key features are similar to many of the world's major sediment-hosted copper systems, including the deposits of the Kalahari Copper Belt (Botswana) and Central African Copper Belt (DRC, Zambia).
The three-dimensional interpretation of the 2023 gravity data suggests that drill hole ST22-10 was drilled just to the south of, and likely intercepted the margin of, the large anomaly below and to the west of the 4100N Zone (Figures 5 & 6).
Both the metal zonation and geophysical modeling suggest the intersection of the periphery of a potentially larger mineralized zone. As such, the large gravity anomaly below the 4100N Zone and to the northwest of ST22-10 is a key target for the discovery of additional copper sulfides.
Diamond drilling will test this and other highly prospective exploration targets that sit at 200m to 500m below the surface.
Figure 8: Conceptual geological and exploration targeting model for the Storm Project, showing depth of current drilling and conceptual location of discovery drill hole ST22-10.
GAME-CHANGING TARGETING TOOL
The 2023 high-resolution ground gravity survey was designed to follow up historical airborne and limited ground gravity surveys. The prior surveys had identified a series of broad density anomalies that lay adjacent to the large graben faults - interpreted to be conduits for copper-forming fluids - and below known near-surface copper sulfide mineralization.
Given the high contrast in density between copper sulfide mineralization and the mostly homogenous dolomite sedimentary host rocks at Storm, this geophysical technique was expected to be an effective targeting tool.
The new survey has provided high-quality data and a significant increase in the understanding of the Storm graben area. The survey included a total of 2,657 gravity stations (Figure 9), with an approximate station spacing of 150m x 50m (E-W and N-S respectively). Topographic surveying was performed simultaneously with gravity data acquisition, and terrain corrections were applied to the data.
Figure 9: Ground gravity station locations overlaying geology.
PLANNED PROGRAM
- Drilling at the 4100N Zone will continue in the summer field program, with a focus on the expansion of the mineralized footprint. This program will be followed by resource definition drilling at the 2200N and 2750N Zones - drilling here intersected high-grade copper sulfides close to surface including 41m* @ 4.18% Cu from 38m (ST22-05), 110m* @ 2.45% Cu from surface (ST97-08) and 56.3m* @ 3.07% Cu from 12.2m (ST99-19).
- Processing and interpretation of the Moving Loop EM (MLEM) data collected during the spring program are almost complete.
- Diamond drilling will be scheduled to test new high-priority exploration targets identified from the gravity survey.
- Sorting and beneficiation test work for a potential direct shipping product operation is continuing with results to follow shortly.
- An environmental baseline survey is scheduled to begin this summer at Storm.
About the Storm Copper and Seal Zinc-Silver Projects, Nunavut
The Nunavut property consists of 173 contiguous mining claims covering an area of approximately 219,257 hectares on Somerset Island, Nunavut, Canada. The Storm Project comprises both the Storm Copper Project, a high-grade sediment-hosted copper discovery (intersections including 110m* @ 2.45% Cu from surface and 56.3m* @ 3.07% Cu from 12.2m) as well as the Seal Zinc Deposit (intersections including 14.4m* @ 10.58% Zn, 28.7g/t Ag from 51.8m and 22.3m* @ 23% Zn, 5.1g/t Ag from 101.5m). Additionally, there are numerous underexplored and undrilled targets within the 120-kilometre strike length of the mineralized trend, including the Tornado copper prospect where 10 grab samples yielded >1% Cu up to 32% Cu in gossans.
Storm Discovery and Historic Work
High-grade copper mineralization was discovered at Storm in the mid-1990s by Cominco geologists conducting regional zinc exploration around their then-producing Polaris lead-zinc mine. A massive chalcocite boulder found in a tributary of the Aston River in 1996 was traced to impressive surface exposures of broken chalcocite mineralization at the surface for hundreds of metres strike length at what became named the 2750N, 2200N, and 3500N Zones. Subsequent seasons of prospecting, geophysics, and over 9,000 m of drilling into the early 2000s confirmed a significant amount of copper mineralization below the surface exposures as well as making the blind discovery of the 4100N Zone, a large area of copper mineralization with no surface exposure.
Following the merger of Cominco with Teck in 2001 and the closure of the Polaris Mine, the Storm claims were allowed to lapse in 2007. Commander Resources re-staked the property in 2008 and flew a helicopter-borne VTEM survey in 2011 but conducted no additional drilling. Aston Bay subsequently entered into an earn-in agreement with Commander and consolidated 100% ownership in 2015. Commander retains a 0.875% Gross Overriding Royalty in the area of the original Storm claims.
In 2016 Aston Bay entered into an earn-in agreement with BHP, who conducted a 2,000-station soil sampling program and drilled 1,951m of core in 12 diamond drill holes, yielding up to 16m* @ 3.1% Cu. BHP exited the agreement in 2017. Aston Bay conducted a property-wide airborne gravity gradiometry survey in 2017 and drilled 2,913m in nine core holes in the Storm area in 2018 yielding a best intercept of 1.5m* @ 4.39% Cu and 20.5m* @ 0.56% Cu.
Agreement with American West Metals
An earn-in agreement for the Storm and Seal properties was signed with American West Metals in March 2021. Under the terms of the agreement, an expenditure of C$10m will earn 80% ownership of the property for American West. Aston Bay is carried for all expenditures to the completion of a feasibility study and production decision. If Aston Bay chooses not to participate and is diluted below 10% ownership, the ownership converts to a 2% Net Smelter Royalty, half of which is purchasable by American West for C$5m at first production. Aston Bay received a cash payment of C$500,000 on signing.
Recent Work
American West completed a fixed loop electromagnetic (FLEM) ground geophysical survey in 2021 that yielded several new subsurface conductive anomalies. A total of 1,534m were drilled in 10 diamond drill holes in the 2022 season, yielding several impressive near-surface intercepts including 41m* @ 4.1% Cu as well as 68m of sulfide mineralization associated with a deeper conductive anomaly.
In April 2022 results of beneficiation studies demonstrated that a mineralized intercept grading 4% Cu from the 4100N area could be upgraded to a 54% Cu direct ship product using standard sorting technology. Further beneficiation studies are ongoing.
In April 2023 American West embarked on a spring delineation drilling program using a helicopter-portable reverse circulation (RC) drill rig as well as gravity and moving loop electromagnetic (MLEM) ground geophysical programs. Results from the programs are in process and are released as they come available.
A summer 2023 program plans further delineation drilling of the near-surface high-grade copper zones to advance them toward maiden resource reports by late 2023. Diamond drilling is planned to test new high-priority gravity targets and environmental baseline studies will be initiated.
*Stated drill hole intersections are all core length, and true width is expected to be 60% to 95% of core length.
Figure 10: Storm Copper Project, Location Map.
Qualified Person
Michael Dufresne, M.Sc., P.Geol., P.Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical information in this press release.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia, USA, 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.
The Company is 100% owner of the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.
About American West Metals Limited
AMERICAN WEST METALS LIMITED (ASX: AW1) is an Australian clean energy mining company focused on growth through the discovery and development of major base metal mineral deposits in Tier 1 jurisdictions of North America. Our strategy is focused on developing mines that have a low-footprint and support the global energy transformation. Our portfolio of copper and zinc projects in Utah and Canada include significant existing resource inventories and high-grade mineralization that can generate robust mining proposals. Core to our approach is our commitment to the ethical extraction and processing of minerals and making a meaningful contribution to the communities where our projects are located.
Led by a highly experienced leadership team, our strategic initiatives lay the foundation for a sustainable business which aims to deliver high-multiplier returns on shareholder investment and economic benefits to all stakeholders.
For further information on American West, visit: www.americanwestmetals.com.
FORWARD-LOOKING STATEMENTS
Statements made in this news release, including those regarding the Option Agreement, grant of the Option and the expected closing date, American West's interest in the Storm Project and its other acquisitions and plans, plans for the upcoming field season, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute "forward-looking statement", which can be identified by the use of conditional or future tenses or by the use of such verbs as "believe", "expect", "may", "will", "should", "estimate", "anticipate", "project", "plan", and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay's expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation.
For more information contact:
Thomas Ullrich, Chief Executive Officer
thomas.ullrich@astonbayholdings.com
(416) 456-3516
Sofia Harquail, IR and Corporate Development
sofia.harquail@astonbayholdings.com
(647) 821-1337
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Empire Metals
Investor Insight
Empire Metals (OTCQB:EPMLF, AIM:EEE) is unlocking one of the world’s largest and purest titanium deposits at its flagship Pitfield project in Western Australia. With growing global demand, a looming supply deficit, and near-term development milestones, Empire offers a compelling investment opportunity in the critical minerals space.
Overview
Empire Metals (OTCQB:EPMLF, AIM:EEE) is an Australian focused exploration and resource development company rapidly gaining international attention for its discovery and rapid development of what is believed to be the world’s largest titanium deposit.
The company is focused on advancing its flagship asset, the Pitfield project, located in Western Australia, a tier 1 mining jurisdiction. With a dominant landholding of more than 1,000 sq km, and a titanium mineral system that spans 40 km in strike length, Pitfield is emerging as a district-scale “giant” discovery with the potential to reshape the global titanium supply landscape.
Empire’s strategic focus on titanium comes at a pivotal time. Titanium is officially recognized as a critical mineral by both the European Union and the United States, owing to its essential role in aerospace, defense, medical technologies, clean energy and high-performance industrial applications. Global demand for titanium dioxide — the most widely used form of titanium — is surging due to its unmatched properties as a pigment and as a feedstock for titanium metal. Titanium supply chains are also increasingly being constrained by geopolitical risks, mine depletion and environmental challenges associated with traditional production. More than 60 percent of the global supply chain is currently concentrated in a handful of countries, notably China and Russia, creating significant vulnerabilities for Western markets.
Titanium has been designated as a critical mineral in both the EU and the US.
Against this backdrop, Empire Metals offers investors a compelling opportunity to gain exposure to a strategically vital metal through a large-scale, high-grade and clean titanium discovery. Unlike many traditional titanium sources, Pitfield's mineralization is exceptionally pure — free from detrimental amounts of uranium, thorium, chromium and other contaminants — making it ideally suited for premium, high-purity end markets. Furthermore, the mineralized zone is near-surface and laterally extensive, allowing for low-strip and scalable bulk mining with conventional processing technologies.
With more than 22,000 meters of drilling already completed and only a fraction of the mineral system tested, Empire is aggressively advancing Pitfield towards a maiden JORC-compliant mineral resource estimate, targeted for H2-2025. Alongside this work, the company is also undertaking bulk sampling and metallurgical processing to advance flowsheet design and optimize product specifications. It is also engaging with industry players to assess product suitability for premium pigment and titanium sponge markets. Empire is planning to finalize, during the current calendar year, a mining study to evaluate the potential for a low-cost strip mining approach, utilizing continuous mining techniques.
The company is supported by a seasoned leadership team with deep expertise in exploration, resource development, mining, metallurgy and capital markets — ensuring that strategic decisions are guided by both technical excellence and a strong track record of value creation.
Company Highlights
- The flagship Pitfield project is the world’s largest known titanium discovery. It’s a district-scale “giant” titanium mineral system, characterised by high-grade, high-purity titanium mineralisation exhibiting exceptional continuity.
- Titanium is in a global supply deficit and recognized as a critical mineral by the EU and US.
- Drill intercepts at Pitfield include up to 202 meters at 6.32 percent titanium dioxide (TiO2) from surface, confirming vast scale and grade.
- Empire Metals operates in one of the world’s most secure, mining-friendly jurisdictions: Western Australia.
- The company is led by an experienced, agile team, with proven expertise in exploration, mine development, and value creation across multiple commodities.
- With a number of key development catalysts planned for 2025, including a maiden resource estimate, bulk sampling for scale-up of metallurgical testwork, and product optimisation, Empire remains significantly undervalued relative to its peers.
Key Projects
Pitfield Project – A World-Class Titanium Discovery
Located in Western Australia, the Pitfield project is Empire Metals’ flagship asset and represents one of the most exciting titanium discoveries globally. Spanning an area of approximately 1,042 sq km, the project has revealed a colossal mineral system measuring 40 km in length and up to 8 km in width, with geophysical indications of mineralization extending to at least a depth of 5 km.
Pitfield’s prime location in Western Australia
Extensive drilling across the project has intercepted thick, laterally continuous zones of high-grade titanium dioxide mineralization, highlighting the system’s enormous scale and consistency.
The titanium at Pitfield occurs predominantly in the minerals anatase and rutile within a weathered, in-situ cap that begins at surface. These minerals are exceptionally pure, often exceeding 90 percent titanium dioxide. They are free from harmful amounts of contaminants like uranium, thorium, chromium and phosphorus — qualities that are likely to make the deposit uniquely suitable for premium, high-purity titanium applications in aerospace, defense and clean technologies.
Pitfield is strategically located near the town of Three Springs, approximately 150 km southeast of the port city of Geraldton. The project benefits from direct access to essential infrastructure, including sealed highways, rail lines and an available water supply. This connectivity significantly enhances development potential by reducing logistics costs and simplifying future project build-out. Moreover, the Western Australian government actively supports critical mineral development, and Empire is operating within a stable, mining-friendly jurisdiction known for streamlined permitting and investment security.
Empire has completed more than 22,000 meters of drilling, confirming standout titanium dioxide (TiO2) results such as 154 meters at 6.76 percent TiO2, 148 meters at 6.49 percent TiO2, and 150 meters at 6.44 percent TiO2. Notably, mineralization remains open at depth in all tested zones, and to date, only around 5 percent of the interpreted system has been drilled. This underscores the immense upside potential for resource expansion.
The project’s development advantages are equally compelling: the mineralization is near-surface and amenable to simple, bulk mining methods with conventional processing. Its location in a tier-one mining jurisdiction offers access to infrastructure, a skilled workforce and strong regulatory support.
The Pitfield project presents a scalable processing pathway. Photo shows a gravity flotation test in process (left) and a close-up of a flotation test (right)
Pitfield is advancing toward a maiden JORC-compliant mineral resource estimate, expected by H2-2025. The project is already being recognized as a potential cornerstone asset in the global titanium supply chain.
Other Projects
In addition to Pitfield, Empire Metals maintains a portfolio of early-stage exploration assets offering optionality and exposure to other strategic and precious metals. Empire holds interests in two Western Australian projects — the Walton and Eclipse gold projects — both situated in historically productive mineral belts. While these assets are not the current focus, they contribute exploration upside and optionality within the company’s broader strategy.
Board and Management Team
Neil O’Brien - Non-executive Chairman
Neil O’Brien is the former SVP exploration and new business development at Lundin
Mining, until he retired in 2018. He has an extensive global mining career as a PhD economic geologist, exploration leader and board executive.
Shaun Bunn - Managing Director
Shaun Bunn is a metallurgist based in Perth, Western Australia, with expertise in international exploration, mining, processing and development. He has a successful track record managing mining projects through all stages of development.
Greg Kuenzel - Finance Director
Based in London, Greg Kuenzel is a chartered accountant, and corporate finance and financial management expert. He has extensive experience working with resources-focused AIM listed companies.
Peter Damouni - Non-executive Director
With more than 20 years of corporate and finance experience focused in the natural resources sector, Peter Damouni holds executive and director roles in TSXV and LSE listed companies where he has played key roles in significantly enhancing shareholder value.
Phil Brumit - Non-executive Director
Phil Brumit is a veteran mining engineer and operations expert, delivering major global operations. His previous roles include international leadership positions at Freeport-McMoRan, Lundin Mining and Newmont Corporation.
Narelle Marriott - Process Development Manager
Narelle Marriott is a former BHP senior process engineer. Most recently, she was the general manager for process development for Hastings Technology Metals.
Andrew Faragher - Exploration Manager
Andrew Faragher is a former Rio Tinto exploration manager with more than 25 years of experience working across multiple commodities.
Arabella Burwell - Corporate Development
Arabella Burwell is a former Senior Director Corporate Development at NASDAQ-listed GoDaddy and a Partner, Capital Raising and Strategic Partnerships, at Hannam & Partners in London and South Africa.
Carrie Pritchard – Environmental Manager
Carrie brings over 20 years of international experience in environmental management, project development, regulatory approvals, and impact assessment. Her expertise spans mine closure and reclamation, stakeholder engagement, and the remediation of contaminated sites. She has led projects across Australia (Western Australia and Victoria) and New Zealand and has also contributed to initiatives in Malawi and Greenland.
David Parker – Commercial Manager
David Parker brings over 20 years of experience in equity capital markets, with a strong focus on the mining, industrial, and technology sectors. He has held senior roles as director and company secretary for several ASX-listed companies, providing strategic leadership and commercial oversight across diverse corporate environments.
175m @ 2.5% Copper from 7.6m, Hole Ends in 4.46% Copper & Open at Depth Danvers Drilling Delivers a Globally Significant Copper Intersection
- Further assay results confirm and validate the strategy to explore previously untested high-grade zones and vertical depth extension of mineralisation at Danvers
- Highlights from DAN25008:
- 175m @ 2.5% Cu & 8.66g/t silver (Ag) from 7.6m, including 14m @ 7.55% Cu & 25.8g/t Ag from 138m
- the last 60m of the hole averaged 3.9% Cu & 14.96g/t Ag to final depth of 182.88m
- hole ended in mineralisation with the last 1.5m sample recording 4.46% Cu & 11.58g/t Ag, open at depth
- DAN25001 returned 52m @ 1.16% Cu & 3.43g/t Ag from surface, including 7.6m at 3% Cu & 9.5g/t Ag from 18.28m
- Drilling demonstrates potential for significant expansion to historic non-compliant resource. With the initial objectives of Danvers drilling achieved, to begin to understand the significance of this discovery, new drilling data will feed into a maiden JORC compliant mineral resource
- Mineralisation remains open in all directions. Follow up diamond drilling now being planned to drill out the mineralisation boundaries at Danvers and begin testing of the massive sedimentary structure at Hulk
- The next five (5) assays along strike from DAN25008 are due in the coming weeks
“DAN25008 was prioritised for assay due to the abundance of visual sulphides observed during drilling, and these results have underpinned our confidence in those visuals prevalent in the Company’s prior work. We believe this drill hole ranks among the most significant copper intersections globally within the last 50 years and comfortably sits within the top 10 globally reported “grade-metre” copper results.
This discovery and outstanding results from Danvers is a clear testament to our technical team’s expertise and geological understanding, in particular the professionalism and persistence of Olga Solovieva and Sam Vaughan.
Our improved geological understanding of the Danvers area indicates a mineralised system that extends from surface over more than 175m vertically and potentially 7km in strike length - both to the northeast and southwest, providing scope for further high-impact intercepts from upcoming drilling. With our work updating the geological understanding at Danvers, we adapted our drill targets and DAN25008 resulted in mineralisation at least 30 metres below historical limits, with the hole terminating in high-grade copper mineralisation - suggesting considerable additional potential at depth. The increase in grade toward the bottom of the hole is encouraging and is validation of our methodology.
To illustrate the magnitude of this result, the DAN25001 intercept of 52m at 1.2% Cu - a strong result in its own right - now appears modest when viewed alongside the 175m @ 2.5% Cu from DAN25008. In the context of global copper supply constraints, the Company is well positioned to leverage these results with mineralisation from surface, supporting potential open pit mining activities and an open water port less than 80km from the deposit.
Troy Whittaker - Managing Director
FURTHER INFORMATION
Figure 1 - White Cliff’s Rae Copper Project Area.
Figure 2 - Danvers Project. High grade historic copper occurrences present along a regional NE/SW trending fault zone for 7.5km’s. Inset map shows drillhole collars, covering only a fraction of the wider prospective corridor. See ASX announcement dated 23 April 2025 “Extensive sulphides observed in step out drilling at Rae Copper Project” for observations relating to the field samples/rock chips.
Table 1 - Table of rock sample locations in Figure 2 for pending rock chip assay results. See ASX announcement dated 23 April 2025 “Extensive sulphides observed in step out drilling at Rae Copper Project” for observations relating to the field samples/rock chips.
Figure 3 - Drill section of DAN25008. Reported intervals are considered drilled thicknesses until true thickness can be proved.
Drillhole DAN25008 is an important step in the development of the Danvers copper deposit. An intercept of 175.26m at 2.5% copper is an outstanding result illustrating the continuous mineralisation which commences just below surface at 7.62m downhole. The final 30m of DAN25008 which averages 2.37% Cu and 10.51g/t Ag exists below the trace of historic drilling, effectively extending the known high-grade mineralisation.
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This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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