New copper system confirmed at the Storm Project, Canada

28 September 2022

American West Metals, Wednesday, 28th September 2022

  • Initial results from drill hole ST22-10 have confirmed sediment hosted copper and zinc sulphide mineralisation below the near-surface high-grade deposits at Storm
  • The discovery drill hole is associated with a series of untested large and coincident geophysical anomalies identified across a zone that extends for more than 5km, indicating the potential for a large-scale sedimentary copper system at depth
  • These results validate our geological model that interprets the extensive near-surface high- grade copper mineralisation at Storm to be associated with a much larger sedimentary copper deposit at depth
  • Early observations suggest the deeper copper system at Storm is analogous to Central African copper deposit styles

American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to report that initial assay results from drill hole ST22-10 have confirmed a significant 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:

“I am very pleased to be able to report that initial assays from drill hole ST22-10 confirm the presence of sediment hosted type copper and zinc sulphide mineralisation, with huge implications for the potential metal endowment of the project.

“These results demonstrate that – in addition to the near-surface high-grade copper deposits – we have a second type of copper deposit at Storm. This sedimentary copper mineralisation style is typically associated with very large deposits, such as the large-scale copper deposits in the Congo and the Kupferschiefer deposits in Central Europe.

“The discovery drill hole at Storm is associated with a series of large IP, EM and gravity anomalies that sit below or adjacent to the known high-grade copper prospects and major faults. These features occur across a zone more than 5,000m long, supporting the potential for a very large sedimentary copper system.

“This is a tremendous exploration opportunity and we are already planning follow-up exploration and drilling.

“Further assays from the Storm drill program are due soon and we look forward to reporting on these as they come in.”

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