Excellent expansion potential
In 2024, Australian copper explorer American West Metals (WKN A3DE4Y / ASX AW1) plans to drill twice as many meters as last year at its Storm property in Nunavut, Canada, in which its Canadian partner Aston Bay holds a 20% stake. No wonder, as an initial resource containing more than 200,000 tons of copper metal was already proven last year! Preparatory investigations have now brought American West its first important successes.
As Managing Director Dave O’Neill’s company announced today, the preliminary interpretation of the results of an electromagnetic survey (Moving Loop Electromagnetic, MLEM) has yielded several promising exploration targets. According to American West, this once again underlines the excellent potential for growth of the known resources. This is particularly significant as in the past, almost 100% of the targets generated by EM surveys have been converted into drilling successes, i.e. the identification of (high-grade) copper mineralization!
22.7 kilometers of electromagnetic surveys completed
So far, according to the company, 22.7 line kilometres of the planned MLEM have been completed in the Storm area. This has primarily covered the southern trench area and the areas surrounding the Cyclone deposit. American West geologists are now working westward along the significant trend of the trench. After completing the western portion of the survey, they will continue eastward from the Chinook deposit to the Blizzard and Tornado prospects.
In any case, the MLEM data received and interpreted to date indicate that the high-grade copper mineralization of the Cyclone deposit – where 12.1 million tonnes of 1.2% copper have already been demonstrated in an area of 1,300 by 400 metres – is likely to continue in most directions.
In addition, American West Metals reports that new EM anomalies have been discovered over 1,000 meters along strike of the Chinook deposit, where 2.2 million tonnes of 1.5% copper have been identified, as well as in the areas of last year’s Thunder, Lightning Ridge and Gap discoveries. This indicates high potential for an extension of the known high-grade copper mineralization!
Drilling already underway
For the first time, American West is this year using track-mounted reverse circulation drill rigs, which have already started their work. The first drill rig will test the new targets as well as some historical EM anomalies. In addition, other high priority targets are being addressed targeting high grade copper mineralization near surface.
In order to be able to advance the investigation even faster, a second reverse circulation drill rig is already being prepared for transportation to the project. This means that American West would then have two reverse circulation drills and two diamond core drill rigs in operation on Storm!
Dave O’Neill, Managing Director of American West Metals stated, “[…] The initial moving loop electromagnetic (MLEM) survey data has already been received and is revealing new high-priority targets along strike of the known high-grade mineralization and near and along strike of the known copper deposits.
The extent and strength of some of the new anomalies, as well as the low false positive rate when using EM systems on Storm, make them compelling targets to drill test.
The MLEM data has reinforced our belief that the project has excellent growth potential and that additional undiscovered zones of high-grade copper mineralization exist in unexplored areas of the project. As the MLEM only detects the high-grade copper mineralization at Storm, the potential copper deposit near the EM targets could be much larger than the extent of the EM anomalies, further highlighting the possibility of resource expansion.
Drilling activities are also continuing in the Storm area, with mobilization of the second reverse circulation drill rig currently underway. Ongoing drilling is expected to test these exciting new exploration and resource targets, among others, in the coming weeks.”
Conclusion: It is already becoming apparent that American West Metals should be able to achieve its goal of significantly expanding the known copper deposits on the extremely promising Storm project in 2024. This is because the MLEM survey has identified numerous prospective drill targets – and in the past, the success rate for drilling such targets on the property has been virtually 100%. Of course, there is no guarantee that this streak of success will continue, but we firmly believe that American West will land a number of hits at the very least with this drill campaign. In any case, we are very excited to hear more!
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