{australien_flagge} With two targeted diamond drill holes 680 meters apart, American West Metals Limited (ASX: AW1; OTCQB: AWMLF; FRA: R84) has confirmed its thesis of the presence of a continuous large sedimentary copper system at the Storm copper project on Somerset Island, Nunavut. The stock rose 22.5 percent to A$0.24.5 on 85 million shares traded in Australian trading after the results were announced. At the start of the drilling season, American West shares had been trading at A$0.05. Drilling success to date has been confirmed solely by stratigraphy interpretation and visual mineralogical examination. Detailed laboratory analysis of the drill core is pending.
Conclusion: American West’s spectacular copper discovery has also validated its exploration model. The gravity anomaly had been interpreted to indicate a horizon of sedimentary copper. It is precisely this continuous horizon together with the mineralogy typical of this deposit type that the drilling has now confirmed. The effectiveness of the exploration method bodes well for upcoming drilling, as Storm’s potential has not even been rudimentarily captured. To date, only the first of five gravity anomalies has been tested, and Storm’s regional potential may be even greater. Airborne data suggest gravity targets that can be traced over 10 km to the east along the trench and into the tornado/blizzard prospects where copper is exposed at surface. It is hard to overstate the advantage of the sedimentary copper deposit type. Now geologists know the target depth of the stratigraphically bound horizon and can systematically test its extent. The basis of all this is Storm’s favorable geology. It has all the elements necessary for the processes of ore formation in the sediments: permeable carbonate rock that acts as a fluid conduit and hosts the mineralization, hydrocarbons that reduce the metal-bearing fluids and force metal precipitation, a sulfur source from bitumen and sour gas, and a favorable structural environment that serves as a conduit system for the metal-bearing fluids. It may really be worthwhile for investors to improve their geological understanding on this point for once. That being said, the pipeline for news at American West is well filled. We look forward to what’s coming.
With two targeted diamond drill holes 680 meters apart, American West Metals Limited (ASX: AW1; OTCQB: AWMLF; FRA: R84) has confirmed its thesis of the presence of a continuous large sedimentary copper system at the Storm copper project on Somerset Island, Nunavut. The stock rose 22.5 percent to A$0.24.5 on 85 million shares traded in Australian trading after the results were announced. At the start of the drilling season, American West shares had been trading at A$0.05. Drilling success to date has been confirmed solely by stratigraphy interpretation and visual mineralogical examination. Detailed laboratory analysis of the drill core is pending.
Drill hole ST23-01 intersected a total of 45.5 m of visible sulphides, 15 m of which were in a visible horizon of copper sulphide from 342 m depth. Diamond drill hole ST23-02 intersected a second, even more impressive discovery intersection: 37 m of visible breccia-type copper sulphide (predominantly chalcocite) between 333 m and 370 m hole depth (see Figure 1), with localized breccias containing up to 30% of the copper mineral chalcocite (79.8% copper). Drill hole ST23-01 also intersected the known near surface 4100N copper zone again in the upper section and extended it to the north. The continuity of the mineralized horizon and the size of the gravity anomaly (>5 km long and up to 1 km wide) at depth suggest that drilling has identified a very large copper deposit. (See Figures 2 and 3). Diamond drilling on high priority copper targets continues. The third diamond drill hole is underway and will be drilled approximately 1.7 km south of ST23-02 and 1 km west of the 2750N high grade zone.
Figure 1: NW – SE longitudinal section through drill holes ST23-01 and ST23-02. The mineralized horizon is flat lying, laterally extensive and open.
Figure 2: Top view of Storm area showing gravity data interpretation, known copper deposit footprints (yellow), major faults and diamond drill hole locations as described in this report.
Figure 3: Gravity image of the 4100N area showing drill hole locations (diamond drill holes in red). The pronounced mineralized horizon encountered at depth in ST23-01 and ST23-02 correlates with the stronger copper mineralization intersected in hole ST22-10 back in 2022. The holes are located approximately 680 m apart and approximately 500 m north of ST22-10, creating a virtual triangle between the holes.
Dave O’Neill, Managing Director of American West Metals, commented, “We are very pleased to announce that the diamond drilling has had immediate success and returned spectacular results confirming the presence of a large copper system within the Storm Project. These outstanding results are the result of systematic and persistent exploration and underscore the quality and tremendous exploration potential of the property. The first two holes have discovered a new copper deposit below the near surface mineralization, with both holes intersecting thick intervals of copper sulphide in the same stratigraphic horizon. Given the wide spacing between drill holes and the size of the modeled gravity anomalies, the potential volume of mineralization is very large. This is a significant copper discovery. The scale of the opportunity is enormous, with airborne and ground-based gravity anomalies extending over 10 km to the east into our Blizzard and Tornado prospect areas.”
Figure 4: Chalcocite (dark gray) breccia fill in hole ST23-02. The section shown is approximately 352-359 m downhole. Chalcocite is typical of sedimentary copper deposits, including those of the Kalahari Copper Belt and Central African Copper Belt, and is an important and high-grade copper ore mineral.
Figure 5: Map of Storm and Tornado/Blizzard areas showing ground gravity data over Storm (2023) and Tornado/Blizzard (2015).
Copper system at Storm could still extend for kilometers
The copper mineralization and geology in holes ST23-01, ST23-02 and ST22-10 are very similar and suggest that the stratigraphy of the mineralized system is horizontally extensive. The geometry of the host package is interpreted to be relatively flat and predictable, with thick sequences of altered sediments consisting of dolomite and carbonate rocks. Most of the extensive system has not yet been tested. These gravity targets cover an area of more than 7.5 square kilometers, giving the Storm area significant potential for a world-class copper system.
Conclusion: American West’s spectacular copper discovery has also validated its exploration model. The gravity anomaly had been interpreted to indicate a horizon of sedimentary copper. It is precisely this continuous horizon together with the mineralogy typical of this deposit type that the drilling has now confirmed. The effectiveness of the exploration method bodes well for upcoming drilling, as Storm’s potential has not even been rudimentarily captured. To date, only the first of five gravity anomalies has been tested, and Storm’s regional potential may be even greater. Airborne data suggest gravity targets that can be traced over 10 km to the east along the trench and into the tornado/blizzard prospects where copper is exposed at surface. It is hard to overstate the advantage of the sedimentary copper deposit type. Now geologists know the target depth of the stratigraphically bound horizon and can systematically test its extent. The basis of all this is Storm’s favorable geology. It has all the elements necessary for the processes of ore formation in the sediments: permeable carbonate rock that acts as a fluid conduit and hosts the mineralization, hydrocarbons that reduce the metal-bearing fluids and force metal precipitation, a sulfur source from bitumen and sour gas, and a favorable structural environment that serves as a conduit system for the metal-bearing fluids. It may really be worthwhile for investors to improve their geological understanding on this point for once. That being said, the pipeline for news at American West is well filled. We look forward to what’s coming.
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://www.goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they in no way replace an individual expert investment advice, it is rather promotional / journalistic publications. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities, especially with shares in the penny stock area, carries high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors exclude any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here expressly. Please also note our terms of use.
Pursuant to §34b WpHG (Securities Trading Act) and in accordance with Paragraph 48f (5) BörseG (Austrian Stock Exchange Act) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares in American West Metals and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss American West Metals during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between American West Metals and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.
