BHP funds C$4 million exploration program at Storm copper project
Last updated 7/3/2016 at Noon
Aston Bay Holdings Ltd. June 28 said a C$4 million exploration program at its Storm copper project is set to begin in early July.
The program includes roughly 2,000 meters of drilling; re-logging of existing core mapping; soil sampling; and prospecting.
"As the operator of the project, Aston Bay is excited to test high-priority targets while advancing additional targets for future drill programs," said Thomas Ullrich, executive vice president, exploration, Aston Bay.
Under the terms of an option agreement finalized in May, BHP Billiton Ltd. can earn a 75 percent interest in Storm by spending a minimum of C$40 million on exploration of the property over a period up to nine years.
This year's program is to be included in the earn-in.