Aston Bay Unveils Pre-Feasibility Study Results for Storm Copper Project

Aston Bay Holdings Ltd. disclosed its Pre-Feasibility Study (PFS) outcomes for the Storm Copper Project in Nunavut, Canada. The project is a collaboration with American West Metals Limited, the primary stakeholder. Held on Somerset Island, the study evaluates an open-pit mine operated by contractors. Ore processing includes sensor-based sorting and flotation, producing copper-silver concentrate for summer shipments. The project timeline spans from 2030 to 2040.

The PFS highlights include Probable Mineral Reserves of 12.58 Mt with 1.20% copper and 3.7 g/t silver, amounting to roughly 151,400 tons of copper and 1.5 million ounces of silver. The project targets US$5.30/lb for copper and US$50/oz for silver, projecting an IRR of 32.8% and a 3.6-year payback. Additional economic analysis, reserve estimations, and cash cost evaluations support project viability.

Potential community benefits are anticipated, focusing on employment and economic growth for local Inuit and northern communities, contingent on further engagement and studies.