{australien_flagge}Immediately following the completion of its oversubscribed capital round of an additional A$3 million (at A$0.105), Australian copper explorer American West Metals Limited (ASX: AW1; OTCQB: AWMLF, FRA: R84) is taking action on its Storm Project in Nunavut. The company is preparing a series of diamond drill holes to test recently discovered geophysical targets directly beneath known copper deposits.
CONCLUSION: Recent drill results from the 4100N Zone have also failed to define the limits of horizontal, near-surface copper mineralization. Rather, they show that this part of the project is growing and can continue to grow in all directions. However, what currently has market participants much more concerned than the almost expected good results from the RC drilling is the upcoming diamond drilling into the underlying gravity anomaly. Dren’s geophysical signature is spatially consistent with the interpreted trench fault architecture and known copper sulfide mineralization at Storm. The known geological features suggest a typical sedimentary copper model found in major copper deposits in central and southern Africa. The first copper target is a large and dense body located below the 4100N zone, interpreted as a potentially major accumulation of copper sulphides. The target starts at about 200 m depth, is about 2.3 km long and is intersected by a strong IP anomaly at its upper contact. Drilling success in this target would definitively be a game-changer for American West. Exploration could hardly be more exciting.
{australien_flagge}Immediately following the completion of its oversubscribed capital round of an additional A$3 million (at A$0.105), Australian copper explorer American West Metals Limited (ASX: AW1; OTCQB: AWMLF, FRA: R84) is taking action on its Storm Project in Nunavut. The company is preparing a series of diamond drill holes to test recently discovered geophysical targets directly beneath known copper deposits.
The Company has selected five main targets (see Figure 1) and plans to drill approximately 2,500 m of holes to drill depths ranging from 400 m to 600 m. In parallel, the Company continues to report high grade results from ongoing reverse circulation drilling from the prolific 4100N Zone. Four of the total six drill holes now released confirm additional thick and high-grade near-surface copper intercepts. The best hole, SR23-17, returned 15.3m @ 1.6% Cu from 59.4m, inclusive, 7.6m @ 2.9% Cu from 64m, including 3.1m @ 4.8% Cu from 64m. So far this season, a total of 18 holes have already been drilled in the 4100N zone. Drilling results indicate that copper mineralization at the 4100N Zone is open in all directions (Figure 2). American West is also receiving CAD 250,000 in financial support from the Government of Nunavut for its drilling on the large-scale sediment-hosted copper targets.
Figure 1: Geophysical interpretation map showing focus areas (numbered) for diamond drilling.
Figure 2: Plan view of the 4100N Zone showing the interpreted footprint of copper mineralization (defined by drilling, MLEM and VTEM), historical and current drilling details, and overlaying regional geology. Drill hole SR23-10 is the most westerly drill hole to date on the project.
Dave O’Neill, Managing Director of American West Metals, commented, “The 4100N Zone has developed into a significant copper project. Results from the recent assay series and geophysical interpretation indicate that copper mineralization is now over 1.3 km long, 300 m wide and open in all directions. Additional extension and resource drilling is underway to further expand the footprint. We are also pleased to announce that diamond drilling will commence in the coming days to test geophysical targets below the known near surface copper deposits. These new targets are an important breakthrough in the exploration of the sedimentary copper system, which is interpreted to be the potential source of the high-grade copper discovered at surface. The largest of the geophysical targets is located directly beneath the 4100N zone and is immediately adjacent to the large fault that we interpret to be the main conduit for the copper mineralization reaching surface. The target is seen in both gravity and IP data. It is an extremely significant association indicating a body that is both dense and electrically chargeable. The only known dense and chargeable geologic feature at depth in the Storm area is sulfides.”
CONCLUSION: Recent drill results from the 4100N Zone have also failed to define the limits of horizontal, near-surface copper mineralization. Rather, they show that this part of the project is growing and can continue to grow in all directions. However, what currently has market participants much more concerned than the almost expected good results from the RC drilling is the upcoming diamond drilling into the underlying gravity anomaly. Dren’s geophysical signature is spatially consistent with the interpreted trench fault architecture and known copper sulfide mineralization at Storm. The known geological features suggest a typical sedimentary copper model found in major copper deposits in central and southern Africa. The first copper target is a large and dense body located below the 4100N zone, interpreted as a potentially major accumulation of copper sulphides. The target starts at about 200 m depth, is about 2.3 km long and is intersected by a strong IP anomaly at its upper contact. Drilling success in this target would definitively be a game-changer for American West. Exploration could hardly be more exciting.
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