22 August 2022
(Tuesday, 23rd August 2022) American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to announce a major copper discovery at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.
Dave O’Neill, Managing Director of American West Metals commented:
“This is a game changing discovery at the Storm Copper Project. Exploration drilling has intersected stratiform copper sulphide mineralisation at depth which supports our geological assumptions that there is a major copper system lying below the high-grade near surface mineralisation.
“The new copper mineralisation is associated with a large EM plate that is one of six untested plates, most of which are located in highly prospective positions – below or adjacent to the known high-grade copper prospects and fault system.
“The importance of this discovery for the project cannot be overstated, as it has hugely positive implications for the copper endowment within the project area.
“We look forward to reporting on further drilling results in the coming days.”
Drill hole ST22-10 has intersected a thick sequence of copper sulphide mineralisation associated with a large, previously untested EM anomaly that was defined in the fixed loop EM (FLEM) survey completed over the Storm Copper Project area in 2021 (see ASX announcement dated 14th December 2021 – Outstanding growth potential confirmed at Storm Copper Project).
Approximately 68.8m of chalcopyrite dominant mineralisation was intersected from 277m downhole in drill hole ST22-10 (approx. 230m vertical depth). The mineralisation is interpreted to be stratiform and is hosted within a vuggy, bituminous and fossiliferous carbonate unit. This geological setting is consistent with the typical mineralisation model for sedimentary copper systems where this style of permeable host rocks form chemical traps for the deposition of copper rich fluids (Figure 2).
This newly discovered mineralisation and setting at Storm shares features very similar to many large volume, sedimentary hosted copper systems. Importantly, ST22-10 is the first hole to intersect one of the deeper EM anomalies modelled from the 2021 FLEM survey with six other similar EM plates yet to be tested, indicating the potential for a large-scale mineral system.
See the full release here for more drilling details.