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American West Metals Limited (American West or the Company) (ASX: AW1 | OTCQB: AWMLF) is pleased to provide an update on the drill program at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut.
- Thick and high-grade near surface copper intervals continue at the 4100N Zone with intervals over 5% Cu and a peak value of 8% Cu
- Drill hole SR23-13 has intersected:
- 29m @ 1.2% Cu from 62.5m, including,
- 3m @ 5% Cu from 86.9m, including,
- 1.5m @ 8.2% Cu from 86.9m
- 29m @ 1.2% Cu from 62.5m, including,
- Drill hole SR23-14 has intersected:
- 25.9m @ 1.3% Cu from 61m, including,
- 9.1m @ 2.1% Cu from 76.2m, including,
- 3m @ 3.7% Cu from 82.3m
- 25.9m @ 1.3% Cu from 61m, including,
- Drill hole SR23-07 has intersected:
- 10.7m @ 1.3% Cu from 76.2m, including,
- 4.6m @ 2.9% Cu from 76.2m, including,
- 1.5m @ 6.5% Cu from 76.2m
- 10.7m @ 1.3% Cu from 76.2m, including,
- Drill hole SR23-09 has intersected:
- 10.6m @ 1% Cu from 67.1m, including,
- 4.6m @ 2% Cu from 71.6m
- 10.6m @ 1% Cu from 67.1m, including,
- Copper mineralisation remains open in all directions
- These results continue to expand the volume of the near-surface mineralisation, and provide further support for the potential of the large gravity anomaly located below the 4100N Zone
Dave O’Neill, Managing Director of American West Metals commented:
“Further outstanding results have been received for the current drilling program at the 4100N Zone, with assays continuing to show the consistency and scale of the high-grade near-surface copper mineralisation.
“We continue to see thick intervals of copper mineralisation hosted within predictable stratigraphic horizons. Copper grades of 8% Cu highlight the quality of the mineralisation, and there is opportunity to expand the higher-grade zones with the mineralisation open in all directions.
“Our drilling this year has significantly increased the volume of the near surface mineralisation at Storm, and the scale of this alone is quickly shaping up to be what we believe will be a globally significant, low cost copper project.
“The continued drilling success at the 4100N Zone provides further encouragement for the potential of the recently defined and exceptional exploration targets at depth. The largest of the geophysical targets is located directly below the 4100N Zone, and immediately adjacent to the large fault that we interpret as the main conduit for the copper mineralisation coming to surface.
“We look forward to providing further updates on drilling and other exploration activities in the coming weeks.”
Figure 1: Plan view of the 4100N Zone showing interpreted copper mineralisation footprint (defined by historical drilling and EM), historical and recent drilling details, overlaying regional geology.
HIGH GRADES AND THICK INTERVALS CONTINUE
Assay results have been received and interpretation has been completed on drill holes SR23-07, SR23- 08, SR23-09, SR23-13, SR23-14, and SR23-15. The drill holes are located within the central part of the 4100N Zone and have been prioritised to allow resource modelling to continue on drill sections with complete data sets.
The drilling results continue to demonstrate consistent copper grades and the excellent lateral continuity of the known copper mineralisation. The mineralisation is open along most sections and is defined by broad intervals of vein and fracture style chalcocite, bornite and lesser chalcopyrite hosted within a distinct, horizontally extensive dolomite.
Multiple very high-grade lenses are located within the broader zones of mineralisation, and these targets and further expansion of the mineralised footprint will be a focus for follow-up drilling.
This article includes content from American West Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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