Assays expand the extensive near-surface copper at the Storm Copper Project, Canada

5 November 2023

American West Metals, Monday, 6th November 2023

Further assay results from the summer Reverse Circulation (RC) drilling program have returned thick intervals of near-surface, high-grade copper mineralisation including:

  • Drill hole SR23-38 (4100N Zone) has intersected:
    • 24.4m @ 1.1% Cu from 48.8m, including,
      • 6.1m @ 2.8% Cu from 54.9m, including,
        • 1.5m @ 8.3% Cu from 54.9m, and,
      • 4.5m @ 1.5% Cu from 67.1m
  • Drill hole SR23-41 (4100N Zone) has intersected:
    • 12.2m @ 1.1% Cu from 118.9m, including,
      • 3m @ 4% Cu from 126.5m
  • Drill hole SR23-43 (4100N Zone) has intersected:
    • 1.5m @ 1% Cu from 51.8m, and,
    • 1.5m @ 1.6% Cu from 64m, and,
    • 3.1m @ 2.7% Cu from 76.2m, and,
    • 1.5m @ 1% Cu from 80.8m
  • High-grade, near-surface copper has now been defined at the 4100N Zone over a strike of more than 1,300m and a width of 400m, with drilling and geophysics supporting the potential to extend mineralisation at least 600m further to the north-east.
  • Drilling results continue to demonstrate the strong correlation between geophysical targets and copper mineralisation, with an extensive suite of geophysical targets remaining to be tested.
  • The latest assays are part of the 63 drill holes completed during 2023 that will support the maiden mineral resource estimation at Storm.
  • All of the known high-grade, near-surface copper zones remain open providing outstanding potential for further drilling to expand the resource.

 

American West Metals Limited (American West or the Company) (ASX: AW1 | OTCQB: AWMLF) is pleased to report further Reverse Circulation (RC) drilling assay results for the 2023 drilling program 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 year’s drilling program continues to impress with the remainder of the Reverse Circulation drilling results now received. The results continue to expand the large-scale copper footprint at the 4100N Zone with new thick zones of near-surface copper mineralisation.

“Now we have the complete picture of the resource drilling to date, it is clear is that all of the near- surface high-grade copper zones are continuous and remain open with outstanding growth potential.

“The case for a potential low-cost, high margin DSO production scenario at Storm continues to grow.

“Our exploration has also been highly successful in delivering new discoveries of near-surface copper as well as confirming the presence of high-grade sediment hosted copper sulphide mineralisation at depth. These achievements point to the significant scale potential of the Project and highlight clear similarities of Storm to the large-scale copper deposits in the Congo and Botswana.

“We look forward to reporting further news from Storm in the coming weeks, including the fourth diamond drill hole, the Tempest surface sampling and magnetic survey results, and preparations for the 2024 field season.”

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