American West: New discovery and high copper grades
Copper explorer American West Metals (WKN A3DE4Y / ASX AW1) has proven up to 42.8% copper at its Canadian Storm project. The spectacular 0.3 meters thick mineralization intercept was encountered at a depth of only 67 meters. In addition, American West discovered a completely new mineralization zone.
The extremely high-grade discovery, from the 4100N zone of the Storm project, was part of a 46 metres thick intercept of 2.2% copper from 64 metres depth. This also included a 15.6 meters intercept of 4.2% copper from 65 meters depth.
In addition, another hole from the 2750N zone returned 27.4 meters at 1.5% copper from surface, including 7.6 meters at 4% copper from 7.6 meters. A deeper intercept from the same hole returned 27.4 meters at 1.3% copper from 30.5 meters down, including 9.1 meters at 2.15% copper from 33.5 meters.
New discovery made near the surface
American West also announced that it discovered new, near-surface mineralization in an under-explored area between the 2750N, 2200N and the Thunder zones with another reverse circulation drill hole. The company has named this new copper discovery “Lightning Ridge”. It is located in an area that outcrops massive chalcocite and large-scale faults.
American West identified a previously untested anomaly with this drill hole, which was identified using a Versatile Time-domain Electromagnetic (VTEM) survey. In total, the company added, they have discovered additional prospective structures over a distance of more than 10 kilometres.
The Nunavut Projects
Storm is part of the so-called Nunavut projects in Canada, which also include the Seal Seal zinc project. The Nunavut projects are owned by Aston Bay Holdings, but American West is the operator and has the option to secure an 80% interest in the areas. Historical drilling had also returned high copper values.
American West says it plans to establish an initial resource with drilling this year, targeting the 4100N, 2750N and 2200N zones where high-grade copper mineralization begins at surface. More results are pending from the latest phase of drilling, which should provide further clues as to what this initial resource might look like.
At the same time, the Company is continuing ore sorting, processing and process optimization on a number of ore types from the 2750N and 4100N zones. Work also continues on resource modelling and estimation. However, field activities for the drilling and exploration program have been suspended for the time being due to the Yellowknife wildfires. This is because they led to the evacuation of the city and restrictions on access to the airport, which is now only open for emergency purposes.
Conclusion: Continuity and consistency of mineralization of the 4100N zone, as American West's Managing Director Dave O'Neill explains, have been confirmed once again with the latest drill results, which of course include the extremely highly enriched zones with up to 43% copper. And the American West boss explicitly points out that this is the area that is to underpin the initial resource classification of the property.
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.