Excellent growth potential

Drills are currently turning 24 hours a day, seven days a week at American West Metals’ (WKN A3DE4Y / ASX AW1) Storm copper project. This is partly to take advantage of the Arctic summer and partly because American West, like its Canadian partner Aston Bay (WKN A2AUFP / TSXV BAY), is keen to build on last year’s successes as quickly as possible.

Managing Director Dave O’Neill’s company recently reported its first success in 2024 when the company announced initial drilling results from The Gap target area, where up to 7% copper was drilled.

Since American West continued its summer drill program, 4,450 metres have now been completed. The aim of this latest drilling is to better define and expand the Cyclone and Chinook deposits and to further explore and define resources in the Lightning Ridge and Thunder Prospects target areas.

Plan view of the Chinook, Corona, Thunder and Lightning Ridge areas showing the known copper deposit and interpreted footprint; Source American West Metals

Encouraging visual results received

Assay results from the lab have not yet been received for the 30 holes now completed, but visual results are already available for 16 of the holes on Lightning Ridge and the Cyclone Deposit, which show a 100% hit rate for copper sulphides! (Visual results for the Thunder and Chinook holes are pending).

In detail, American West encountered a total of 30.5 metres of visible copper sulphide mineralization in the Lightning Ridge area with drill hole SR24-014, spread over three zones from 57.9 metres downhole depth. In addition, drill hole SR24-016 has a total of 21.3 metres of visible copper mineralization within three main zones from 38.1 metres downhole. Of particular interest is a 5-metre interval of very strong copper mineralization from 44 metres downhole.

American West Metals has now defined the copper mineralization of the Lightning Ridge zone over a strike length of 150 meters. And according to the company, there is excellent potential to expand the already known mineralized zone.

Excellent expansion potential

With regard to the Cyclone deposit, visual results have been received for 13 drill holes. It is important to note that some of these are outside the area of the already defined resource of 12.2 million tons at 1.2% copper and 3.8g/t silver. And here too, American West reports a hit rate of 100%, with all drill holes having encountered visible copper sulphides.

For example, American West reported 32 metres of strong, visible copper sulphide mineralization from 85.3 metres downhole for hole SR24-009, drilled approximately 80 metres southwest of the Cyclone deposit, while holes SR24-011 and SR24-013 intersected thick intervals of semi-massive sulphides in the southern part of the existing resource.

Thus, according to the company, drilling at the Cyclone deposit continues to confirm the robust and ongoing nature of the copper mineralization, which indicates the potential for an upgrade of the resource and outstanding growth potential.

Conclusion: To date, each of the drill holes completed for which American West Metals has received visual results has visible copper sulphides. A 100% hit rate, similar to last year, which strongly demonstrates the outstanding consistency of copper mineralization at the Storm project. This is particularly true of the Cyclone deposit, where every drill hole to date has encountered thick intervals of visible copper sulphides, demonstrating continuity and growth potential. However, drilling to the southwest of the deposit, i.e. outside the known copper deposits, has also shown a thick interval of very strong copper sulphides. This is exactly what the resource geologists want to see when it comes to expanding the existing resource. Initial drilling at Lightning Ridge has also extended the extent of known copper mineralization and confirmed the geometry of the high-grade copper zones. There is therefore significant potential to convert this discovery made in 2023 into a resource and thus expand the Storm copper endowment. Visual results are not analytical results, of course, but in our opinion a good indication of possible drill success. We are looking forward to the next announcements from the Storm project, which according to American West will now be made on a regular basis.

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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.

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