A copper Storm’s brewing in Canada as AW1 intersects new zones of the red metal
Mining
Mining
Special Report: Large-scale copper targets within American West’s Storm project are beginning to take shape as diamond drilling intersects the target horizon with copper in all holes.
American West’s (ASX: AW1) Storm copper project in Canada’s northern Nunavut region holds a resource of 17.5Mt at 1.2% copper and 3.4 g/t silver with mineralisation occurring near surface.
This month, the company has had three drill rigs on site working round the clock to convert the 2023 discovery into further high-grade resources in a bid to quickly grow Storm’s copper endowment.
AW1 says a potential resource upgrade and extension is on track with recent RC drilling having intersected multiple high-grade copper intervals at both the Cyclone and Chinook deposits.
The explorer has since begun diamond drilling with the first two holes hitting very thick intervals of visual copper mineralisation, which contain thinner intervals of very strong visual copper.
A 100% hit rate has been achieved, meaning copper was returned in all holes while seven out of seven deep drill holes intersected the prospective target horizon at depth.
Drilling has confirmed the large lateral extent of the Storm copper system at depth – now intersected over 10km2 – and highlights the potential of Storm to host large-scale stratigraphic and structurally hosted high-grade copper deposits similar to those found in the Central African copper belt.
Drill hole ST24-01 intersected a combined total of 21.3m of visual copper mineralisation while drill hole ST24-02 hit a combined total of 99.2m of visual copper sulphide.
AW1 says drilling continues at the project with 100 RC holes and 13 diamond holes as well as over 15,500m completed.
Meanwhile, a deep search EM survey has identified a 1,300m x 500m anomaly below the Cirrus deposit and The Gap prospect, which will be the subject of upcoming target drilling.
“Every fault, every space, every gap in the rocks that we hit within the deep horizon has copper in it,” AW1 managing director Dave O’Neill says.
“The scale of the target horizon is now very impressive with these drill holes covering an area of over 10 square kilometres.
“The success rate and volume of copper mineralisation is telling us that this is a long-lived mineral system with potential for Tier 1 scale,” he says.
“Zeroing in on the strongest parts of the mineralisation will be the focus of the deep exploration going forward.”
AW1 says the assays for the completed deep drill holes have been prioritised.
Together with the ongoing Tempest and Storm resource drilling, investors can look forward to exciting news flow over the coming weeks.
This article was developed in collaboration with American West Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.