Thunderous copper intersections near surface at American West Metals’ Storm prospect in Canada’s remote north continue to demonstrate its incredible development potential.

Everyone is desperate for copper these days, looking far and wide for new sources of a metal key to the energy transition with a demand profile expected to double between now and 2050.

American West’s (ASX:AW1) is emerging as one of those new sources, with the latest assays from its 4100N Zone showing the proliferation of high grade copper less than 100m below the ground.

With hits ranging up to 7% copper, the deposit continues to show signs it will be amenable to low-cost open pit mining, with resource modelling, ore beneficiation test work and environmental studies under way.

Results from the latest assays back from the lab included:

  • 29m at 1.1% copper from 59.4m, including 9.2m at 2.2% Cu from 71.6m, also including 1.5m at 5.1% Cu frpm 79.3m (SR23-02).
  • 67.1m at 1.1% Cu from 54.9m, including 4.6m at 2.6% Cu from 64m, 9.1m at 2.5% Cu from 79.3m (including the 1.5m stretch at 7.1% Cu from 82.3m) and 4.6 at 2& Cu from 97.5m (SR23-03).
  • 6.1m at 1.1% Cu from 50.3m and 19.8m at 1.1% Cu from 77.7m including 3.1m at 4% Cu from 94.5m (SR23-04).
  • 21.3m at 1% Cu from 41.2m, including 3.1m a 2.5% Cu from 45.7m (SR23-05); and,
  • 7.6m at 1.1% Cu from 53.3m, including 3.1m at 2% Cu from 54.9m, as well as 6.1m at 1.2% Cu from 82.3m, including 3.1m at 2.2% Cu from 82.3m (SR23-06).

“The second batch of assays for the drilling at the 4100N Zone has continued to impress, confirming further thick intervals of copper mineralisation very close to surface,” AW1 MD Dave O’Neill said.

“Multiple high-grade assay results highlight the presence of more semi-massive and massive sulphide copper zones within the ore body, which we believe will significantly boost the overall resource grade.

“The mineralisation at Storm is quickly demonstrating the quality and scale of what we believe will become a premier, open-pit copper mining opportunity.

“We look forward to providing further updates on drilling and other exploration activities in the coming weeks.”


American West ASX AW1
AW1 continues to hit high grade, shallow copper at Storm. Pic: Supplied (AW1)


What happens next?

Located on Somerset Island in Nunavut, near the Seal base metals discovery, drilling at Storm’s 4100N zone is continuing, with AW1 focusing on the expansion of its mineralised footprint.

It will come before resource definition drilling at the 2200N and 2750N Zones, where drilling last year hit high grade copper sulphides including 41m at 4.18% Cu from just 38m downhole.

Meanwhile, processing and interpretation of MLEM and gravity data is almost done, with diamond drilling expected to follow to test new high-priority exploration targets picked up in the surveys.

Baseline enviro surveys are also due to begin in the Storm area during the third quarter of this year, with results of ore sorting and beneficiation test work for a potential DSO operation expected once the test work is complete.

The direct shipping ore model could help AW1 generate early cash flow from the high grade near surface copper mineralisation at Storm in a similar method to the one used by $2.7 billion capped Sandfire Resources in the early days of its DeGrussa copper-gold mine.

American West ASX AW1
RC chips from this stretch of chalcocite breccia and dolomite hosted veins in SR23-03 contained 3.2% copper. Picture shows how the Ore Sorter can pick and separate the high grade chips from the gangue Pic: Supplied (AW1)



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.