Direct Shipping Ore (DSO) development potential confirmed at the Storm Copper Project, Canada

13 August 2024

Industry-leading ore sorting and beneficiation results highlight low-cost and low-footprint production potential

(August 12, 2024) American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to report the results of the recent scoping level test work completed on mineralisation from the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

  • Metallurgical study and test work program on representative Cyclone and Chinook Deposit mineralisation has successfully generated commercial grade Direct Shipping Ore (DSO) products
  • The two-circuit, ore sorting and Inline Pressure Jig (IPJ) stream is capable of a range of DSO concentrate grades with excellent yields of copper
  • Production modelling with a nominated 1.5 million tonnes per annum throughput delivers:
    • Deposit at 1.2% Cu to 1.5% Cu feed grades,
      • 16-22% Cu concentrate, 10-14ktpa Cu metal
    • Chinook Deposit with 1.5% Cu feed grade,
      • 16-22% Cu concentrate, 15-16ktpa Cu metal
    • Estimated capital of US$18-23M DSO plant costs and US$4/tonne processing costs
  • DSO process can be easily optimised to suit increased mining production rates and selective concentrate grades
  • Ongoing test work has shown further upside potential and includes continuing variability, comminution and optimisation studies on the Cyclone, Chinook, and Thunder Deposits
  • The development opportunity has excellent ESG outcomes with a very small environmental footprint and zero deleterious elements
  • Resource infill and expansion drilling continues toward delivering an upgraded Mineral Resource Estimation – significantly building on the current JORC Code 2012 MRE of 17.5Mt @ 1.2% Cu, 3.4g/t Ag (205Kt Cu, 1.9Moz Ag)1

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

“We are extremely pleased to announce a major milestone for the Storm Copper Project with spectacular results from the DSO processing study. The program has produced commercial grade DSO products from typical copper ores through an uncomplicated and low-cost process. This is game changing for the Storm project and world leading in terms of copper processing innovation and performance.

“The process of generating DSO at Storm is amazingly simple and highlights our Company’s focus on generating ESG sensitive and low capital development solutions. Storm Copper now stands out as one of the very few, and highest-grade DSO copper opportunities globally.

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