Dave O’Neill, Managing Director of American West Metals, provides an update on the company’s progress in 2024, including the updated Mineral Resource Estimate (MRE) for the Storm Copper Project, developments in mining and economic studies, exploration plans, and future growth strategies.
In 2024, AW1 is pursuing a targeted strategy to improve the quality of its resources, rather than pushing for rapid expansion in the less reliable ‘inferred’ category. While this approach contrasts with some investors’ expectations for accelerated resource growth and new discoveries along the largely unexplored 100 km copper-bearing horizon, it represents a deliberate step towards preparing for a Direct Shipping Ore (DSO) mining scenario at Storm.
The company has made significant progress, including detailed mining and economic studies – a key milestone for future permit applications – as well as ongoing metallurgical investigations confirming the suitability of the ores for cost-effective sorting and processing techniques.
American West continues to position itself as a leading copper explorer with the unique opportunity to develop a high-grade DSO operation in an open-pit mine with an average copper content of 1.3% – a significant opportunity for investors.
???? Key Topics:
00:00 Introduction
00:41 Presentation by AW1 Managing Director Dave O’Neill
1:26 Investment Highlights
2:27 Nunavut – Tier-1 Jurisdiction
7:26 Updated MRE for the Storm Copper Project
13:30 Rapidly Growing Copper Resource
18:41 Multiple Horizons Discovered
19:10 District-Wide Exploration Potential
20:40 Direct Shipping Ore (DSO)
25:55 Catalysts for Revaluation and Growth
30:56 West Desert Project
32:47 Q
32:55 Progress on Mining and Economic Study
34:41 Leadership and Oversight of Studies
36:06 Timeline for Study Release
37:08 Royalty Financing: Classifications to Activate the $4 Million Taurus Financing
38:00 2025 Drilling Plans: Tornado, Blizzard Targets, and New High-Grade Discoveries
39:55 Exploration Techniques
41:48 Seal Zinc Resource: Planned Work, Including Drilling and Metallurgical Tests
42:25 Ore Sorting: Potential to Expand Storm Resource with Low Cut-off Grade Material
43:14 Community Collaboration: Updates on Cooperation with Stakeholders in Nunavut
44:50 Trigger for Taurus Financing
46:40 West Desert Indium Resource: Significance of the Only JORC-Compliant Indium Resource in the USA
48:25 Share Price Movements: Commentary on Recent Developments
52:50 General Market Assessment
54:35 Market Dynamics: Storm’s Positioning in Light of Growing Global Copper Demand
56:44 Closing Remarks
American West Metals Limited (ASX: AW1) is an Australian clean energy mining company committed to the global energy transition. Through the discovery and development of significant base metal deposits in Tier-1 jurisdictions in North America, the company contributes to sustainable raw material supply.
The Storm Copper Project in Nunavut, Canada, covers 2,200 km² and represents a globally significant high-grade copper deposit in open-pit mining. As of December 2024, the Mineral Resource Estimate (JORC 2012) includes 20.6 Mt @ 1.1% Cu and 3.3 g/t Ag (0.35% Cu cut-off), equivalent to 229,000 tonnes of copper and 2.2 million ounces of silver. Over 61% of the contained metals are now classified as ‘Indicated Resources’. The resource underscores the potential for open-pit mining with shallow mineralization and significant growth potential through ongoing exploration work.
American West Metals also owns two additional projects in Utah, USA:
???? Disclaimer:
You can find the complete disclaimer in the presentation on the company’s website:
🔗 American West Metals – ASX Announcements
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