• Drilling returns up to 42.8% copper at Storm project in Canada
  • A new copper discovery in Lightning Ridge grows mineralisation footprint
  • Potential for high-grade, near-surface deposit for a starter pit

Summer drilling at American West Metal’s Storm project on Somerset Island in Canada has returned “outstanding” near surface high-grade results ranging from 1.3% to a whopping 42.8% copper.

AW1 continues to be a copper-toned success story and has gained a massive 333% since first announcing two big hits at the project back in June.

Earlier this month former geologist and experienced stockbroker Guy Le Page said “Storm’s Tier 1 potential could make AW1 bigger than Elvis,” and he could be on to something, with the company also announcing today a new discovery in an underexplored area of the project now called ‘Lightning Ridge.’

American West Metals (ASX:AW1) MD Dave O’Neill says more high-grade mineralisation confirmed in the 2750N and 4100N Zones further emphasises the “outstanding resource potential” at Storm.

“The continuity and consistency of mineralisation at the 4100N Zone has been confirmed by the latest drilling results, including extremely rich zones with assays up to 43% copper,” he said.

“This is the highest-grade assay result to date at the 4100N Zone.

“Importantly, it is located in a key area that will underpin the resource classification of this prospect.

“As expected from the 2750N Zone, the drilling also continues to highlight the very high grades of the prospect.

“Significantly, the latest drilling has also shown that the very strong mineralisation continues to surface, which supports the potential for a high-grade, near-surface deposit suitable as a starter pit.”

 

Bonanza near-surface copper hits

Results from the 2750N and 4100N Zones included:

  • 46m at 2.2% coper from 64m, including 15.6m at 4.2% copper from 65m, including 0.3m at 42.8% copper from 67m (Drill hole SM23-02:4100N Zone);
  • 4m at 1.5% copper from surface, including 7.6m at 4% copper from 7.6m (Drill hole SR23-21:2750N Zone); and
  • 4m at 1.3% copper from 30.5m, including 9.1m at 2.15% copper from 33.5m (Drill hole SR23-21:2750N Zone).

Drill hole SR23-52 also delivered the Lightning Ridge discovery, intersecting a total of 19m of strong visual copper sulphide mineralisation in two zones from 32m downhole.

AW1 interprets the discovery to be fault related. It’s also located between the high-grade 2750N and 2200N Zones, which are located approximately 1km apart.

Several other EM anomalies and more than 10km of prospective strike of similar faults have been identified in the southern graben area and remain untested by drilling.

“The new discovery has been named Lightning Ridge due to the exposure of massive chalcocite near the gully ridge, and continues to highlight the exploration and growth opportunities within the Storm area,” O’Neill said.

 

Plan view of the southern Storm area showing the known copper prospects, newly discovered copper prospects (Thunder and Lightning Ridge), interpreted copper mineralisation footprint (defined by drilling, MLEM and VTEM), and drilling overlaying regional geology. Source: AW1.

 

Assays pending and resource modelling underway

The field activities for the drilling and exploration program have now been suspended due to the Yellowknife fires, which have evacuated the town and placed restrictions on airport access other than for emergency purposes.

However, assays for the outstanding drill holes are still pending and will continue to be received over the coming weeks.

The ore sorting, beneficiation and process optimisation is continuing on a range of ore types from the 2750N and 4100N Zones along with resource modelling and estimation work for the Storm project.

 

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.

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