New, large-scale copper target identified at the Storm Project, Canada

24 April 2025

Thick interval of visual copper sulphide identified in historical drilling supports potential for new discovery and highlights significant untapped regional potential 

April 23, 2025: American West Metals Limited (American West Metals or the Company) (ASX:AW1) is pleased to provide an update on the 2025 drilling and exploration plans for the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

  • More than 58m of visual copper sulphides identified in historical drill hole. Drill hole AB18-04 was drilled in 2018 approximately 5km west of the Storm Mineral Resource Estimate (MRE) in an area now named the “Midway Prospect’. The drill hole was logged as intersecting more than 58m in total of visual copper sulphides – but has yet to be sampled and assayed. •
  • New Midway Prospect could significantly expand the graben-related copper endowment. The 20km stretch of the 110km-long Storm copper belt that hosts the Midway, Storm and Tornado prospects is located along the Storm Graben Faults, a known conduit for copper fluids and confirmed setting for high-grade copper mineralisation.  
  • Expansion of regional targets. Midway presents as another highly prospective regional target that will be tested in 2025 in addition to other priority regional targets including the Tornado and Blizzard Prospects.
  • Review of historical geophysics delivers new large-scale targets. Reinterpretation of historical electromagnetic (EM) surveys and induced polarization (IP) surveys – including the GeoTEM completed by Noranda in 2000 – has identified numerous large-scale targets for potential copper mineralisation. • Regional scale Mobile Magneto-Telluric (MMT) Survey. New helicopter-borne MMT survey, designed to see deeper and detect a broader EM spectrum than previous geophysical surveys, is planned to generate additional geophysical targets within the Storm and regional exploration areas.
  • 2025 multi-faceted drill program. In addition to testing priority regional targets, the 2025 drill program will include follow-up drilling at copper discoveries made in 2024 – such as Squall and The Gap – and near-mine expansion drilling.
  • Drilling preparations are well advanced. All fuel, salt, and other supplies for this year’s program are already on site, delivered via Sealift in 2024.

Dave O’Neill, Managing Director of American West Metals commented: “Our 2025 work program will aim to build on the foundations set during 2024 and will include a dual strategy that advances both the exploration and development aspects of the Project. “As part of the regional assessment, we have continued to identify numerous underexplored targets within the highly prospective 110km strike length of the Storm copper belt. With a growing pipeline of regional drill targets, continued regional exploration in 2025 will aim to demonstrate the belt-scale opportunity at the Project. “An area of immediate priority for the 2025 regional exploration program will be the Midway-Storm-Tornado corridor – a highly prospective section of the copper belt with all the ingredients of a large-scale mineralised system. We believe there is strong potential to discover more copper deposits in this corridor and to quickly build on the resource base of the Storm mining camp.” “We look forward to providing further updates, including the other aspects of this year’s program, including the near-mine drilling and development activities.” 

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