16 December 2024
American West Metals Limited (American West or the Company) (ASX: AW1) is pleased to announce significant growth in the JORC Code 2012 compliant Indicated and Inferred Mineral Resource Estimate (MRE) for its 80% owned Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.
Dave O’Neill, Managing Director of American West Metals commented:
“The updated JORC compliant MRE for the Storm Project has delivered what we believe will be the foundations for Canada’s next copper mining camp. “This year’s drilling has significantly derisked the Storm resource and moved a lot of the copper metal at the Cyclone and Chinook Deposits into the Indicated JORC category. This classification is essential for permitting and the ongoing assessment of the Project, and allows us to develop robust mine plans and economic models.
“The updated JORC MRE also highlights the strong growth potential of the Storm area with the known copper deposits remaining open. Additionally, the high-grade Gap and Cyclone Deeps discoveries of 2024 are not yet included in the MRE. Accelerating the definition of further copper resources within Storm and the regional areas will be a focus of future drilling programs.
“The updated JORC MRE is already being incorporated into a revised mine plan and development scenario which we believe will underline the exceptional opportunity at Storm. We look forward to updating investors via a Webinar on 17 December 2024, and through further news updates in the coming weeks.”