American West Metals

Overview

The transition to clean energy is already happening. We’ve seen the European Union commit to lowering its carbon footprint, US President Joe Biden signs an executive order “catalyzing” the shift to a clean energy economy, and the recent IPO of LG Energy Solution — which solidified the company as South Korea’s second most valuable company.

Supplying this exponentially growing global demand for the clean energy minerals needed to to support this transition remains a significant challenge. Since 2010, the demand for these critical minerals has increased by 50 percent, with zinc and copper demand alone expected to double between 2021 and 2050. The majority of these minerals are produced in China, the Democratic Republic of Congo, South Africa, Russia and Australia. If North America and Europe wish to meet their lofty goals, stable domestic production of clean energy metals like copper, lithium, and cobalt is essential.

When it comes to mining, long-term success and stable operations require both the right location and favorable social and environmental factors. Nunavut and Utah are among many tier 1 mining jurisdictions that have robust opportunities for high-value mineral production. The mineral resource industry is Nunavut’s largest private sector contributor to its economy. As a result, its government has taken a pro-mining stance to help maintain its tier 1 status. Additionally, Utah enjoys a long history of mining that dates back to 1862, with thousands of active mines scattered across the state.

American West Metals (ASX:AW1) is an Australian company that focuses on the rapidly growing clean metal sector in tier 1 mining jurisdictions within North America. The company is working to support global clean energy initiatives by developing low-footprint mines that can supply the minerals needed for global electrification. The company’s portfolio of projects remains focused on producing copper and zinc in Utah and Nunavut to support the increasing global demand.

American West Metals features an all-star management team led by experienced leaders Dan Lougher, Dave O’Neill, John Prineas and Michael Anderson, with decades of combined expertise in global mine development, mineral exploration and corporate finance. The company is building the foundation for continued success in delivering economic benefits to all stakeholders and high-multiplier returns on shareholder investment. American West Metals currently has three high-value base metal projects geared toward supplying future resource needs: West Desert, Copper Warrior and Storm and Seal.

American West Metals recently delivered its maiden JORC-compliant Mineral Resource Estimate for the West Desert Deposit in Utah. The resource has outlined over 33 million tonnes (Mt) at 3.83 percent zinc, 0.15 percent copper and 9 grams per ton (g/t) silver (1.3 Mt of zinc, 50 kiloton (Kt) copper and 10 million ounces (Moz) of silver). This large resource is broken down into an open-pit with 18.7 Mt at 2.8 percent zinc, and a proposed higher-grade underground operation with 15 Mt at 5.2 percent zinc, 0.18 percent copper and 7 g/t silver. With less than 10 percent of the prospective areas explored, West Desert presents as a compelling growth story with a large existing metal endowment.

The company is also set to commence exploration at the Storm Copper Project in Canada. Drilling by the company at Storm during 2022 produced spectacular results, including 41 meters @ 4.18 percent copper from 38 meters downhole (drill hole ST22-05). Other thick intervals of high-grade copper during the program confirmed the company’s assumptions that significant, and potentially mineable volumes of copper exists in the near-surface, and could form the basis of a direct shipping ore (DSO) type operation.

Exploration drilling away from the known copper areas also made a significant discovery during 2022. A new type of copper mineralisation was discovered at depth, below the near-surface high-grade copper ores, and shows similarities to the large sedimentary style copper deposits of the DRC. This is considered a breakthrough for the project and points to the potential for an emerging copper system with significant regional endowment.

This year’s exploration and drilling program will aim to expand the volume and define resources of the known, near-surface copper mineralisation, whilst also following up the exciting exploration discovery.

Company Highlights

• American West Metals is a mineral exploration and mining company focused on critical metals, offering investors exposure to high-value projects in tier 1 mineral districts in Nunavut and Utah.
• The company has an experienced management team with decades of expertise in developing mines, mineral exploration and corporate finance.
• The advanced stage West Desert zinc-copper-silver deposit in Utah contains a JORC-compliant resource base of more than 1.3 Mt of zinc, 50 Kt of copper and 10 Moz of silver.
• American West Metals’ Storm Project contains two distinct styles of copper mineralization, and has demonstrated the potential to produce a > 53 percent copper direct shipping ore (DSO) product.
• The Copper Warrior project is located 15 kilometers from the second largest copper mine in Utah, is fully permitted for drilling, and hosts widespread occurrences of outcropping copper.