High-powered electromagnetics set to commence at Storm Copper Project, NU

26 March 2024

Geophysical program designed to deliver a pipeline of priority drill targets for resource expansion and new copper discoveries

American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to provide details on the upcoming electromagnetic surveys and exploration program at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

  • Field crew have arrived at Storm with final preparations underway for the commencement of detailed, high-powered surface electromagnetic (EM) surveys
  • Moving loop EM (MLEM) will initially be deployed around the areas of the existing Storm copper deposits to identify targets for resource expansion both along strike and beneath known high-grade copper mineralisation with over 50 line-km initially planned
  • MLEM surveys will then focus on regional exploration with over 40 line-km planned to screen the regional Blizzard, Tornado and Tempest Prospects
  • Multiple strong indicators of potential copper mineralisation have already been identified at the regional targets – including extensive gossans and chalcocite boulders with grades up to 38% copper and 30% zinc – making these areas compelling exploration targets
  • The high-powered EM survey gives excellent potential to look deeper and deliver game changing results with drilling of historical EM anomalies indicating a 100% correlation between EM targets and high-grade copper sulphides
  • Preparations for commencement of drilling at Storm are also being finalised with Reverse Circulation (RC) drilling planned to begin shortly

Dave O’Neill, Managing Director of American West Metals commented:

“With boots now on the ground, the start is imminent for an exciting 2024 field program at Storm with a schedule of geophysics and drilling on a scale that is designed to significantly grow the copper resources at Storm.

“The field work will kick off with high powered Moving Loop Electromagnetic surveys to define the key areas for resource expansion of the known copper mineralisation. With a total of 90 line-km of surveys planned, we believe the EM work will generate a pipeline of new targets for drill testing and demonstrate the outstanding discovery potential of our underexplored Project.

“The drill program for 2024 is a significant expansion on last year and will commence in about two weeks with RC drilling to immediately build the copper inventory around the known deposits and high- grade prospects, and to explore the emerging, large-scale sedimentary copper system.

“There are numerous underexplored targets within the highly prospective, 100km strike length of the copper belt within our project tenure. The expansion of the exploration along this trend will aim to demonstrate the belt scale opportunity that we believe exists at the project. The Tempest, Blizzard and Tornado areas are particularly exciting as they host large volumes of outcropping copper and high- priority geophysical targets.

“We look forward to reporting regular news and updates on the progress of the program.”