American West Metals (ASX:AW1) says assay results from the Storm Project have confirmed further near-surface, high-grade copper.
During 2024, 100 reverse circulation and 12 diamond drillholes have been completed at the project, which lies in Somerset Island, Nunavut, Canada.
At the Cyclone deposit, drilling results include 19.8m @ 1.2% copper, 3 grams per tonne (g/t) silver, including 4.6m @ 3% copper, 7g/t silver and 3m @ 3.2% copper, 8.5g/t silver.
At the Chinook deposit, drilling results include 3.1m @ 1.3% copper, 6g/t silver, including 1.5m @ 2.3% copper, 10g/t silver.
Managing Director Dave O’Neill says the first assays confirm further intervals of “high-grade” copper mineralisation within and around the Cyclone and Chinook deposits.
“The drilling within the Cyclone deposit continues to demonstrate the exceptional continuity and upgrade potential of the resource, with very high-grade copper intersected within a number of drillholes,” O’Neill says.
“The drilling also highlights growth potential of Cyclone, with thick intervals of copper sulphides intersected in step-out drilling to the south of the Southern Graben Fault.
“With the assays snow starting to be received, resource drilling progressing rapidly, and exploration drilling ramping up, investors can look forward to regular news flow over the coming weeks.”
American West, which has a market capitalisation of $72.47 million, says the discovery of the copper mineralisation at depth has implications for the potential copper endowment of the Storm Project by increasing the number of potential prospective horizons, and increasing the potential for lateral extension of the horizons that have already been intersected.
Meanwhile, drilling is continuing at Storm with two reverse circulation rigs and one diamond drill rig.
Resource definition and exploration drilling is progressing at Storm, and will expand into the regional areas with reverse circulation drilling currently underway at the Tempest prospect.
The diamond drill rig has begun deep exploration drilling targeting the extensive copper horizon at depth, where previously drilling intersected copper grades up to 2.7% copper below the known near-surface copper deposits.
Pending assays for the summer drilling program are expected within the next two to four weeks.
American West Metals is an Australian clean energy mining company focused on growth through the discovery and development of base metal mineral deposits in tier one jurisdictions of North America.
Write to Aaliyah Rogan at Mining.com.au
Images: American West Metals
