The Conversation (0)
American West Metals Limited (American West or the Company) (ASX: AW1 | OTCQB: AWMLF) is pleased to provide an update on the exploration and drilling activities at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut.
- Assays confirm further thick and high-grade near-surface copper intervals at the 4100N Zone
- Drill hole SR23-17 has intersected:
- 15.3m @ 1.6% Cu from 59.4m, including,
- 7.6m @ 2.9% Cu from 64m, including,
- 3.1m @ 4.8% Cu from 64m
- 15.3m @ 1.6% Cu from 59.4m, including,
- Drill hole SR23-10 has intersected:
- 9.1m @ 1.1% Cu from 62.5m, including,
- 1.5m @ 2.8% Cu from 62.5m, and,
- 1.5m @ 2.1% Cu from 65.5m
- 3.1m @ 1.4% Cu from 76.2m, including,
- 1.6m @ 2.1% Cu from 77.7m
- 9.1m @ 1.1% Cu from 62.5m, including,
- Drill hole SR23-12 has intersected:
- 7.6m @ 1.1% Cu from 106.7m, including,
- 3.1m @ 2.1% Cu from 109.7m
- 7.6m @ 1.1% Cu from 106.7m, including,
- Drill hole SR23-18 has intersected:
- 7.7m @ 1% Cu from 59.4m, including,
- 4.6m @ 1.4% Cu from 62.5m, including,
- 1.5m @ 2.6% Cu from 64m
- 7.7m @ 1% Cu from 59.4m, including,
- Drill results continue to expand the footprint of copper mineralisation at the 4100N Zone, which remains open laterally in all directions
- Diamond drilling of the large gravity anomalies located below the high-grade near- surface deposits will commence shortly with preparations well advanced
- American West granted funding by the Nunavut Government to support the drilling of the large-scale sediment hosted copper targets at Storm
Dave O’Neill, Managing Director of American West Metals commented:
“The 4100N Zone has grown into a significant copper story. The results from the latest batch of assays, along with geophysical interpretation, shows that the copper mineralisation is now over 1.3km long, 300m wide and open laterally in every direction. Additional extension and resource drilling will be completed to expand the footprint further.
“We are also pleased to announce that diamond drilling will begin shortly to test the geophysical targets below the known near-surface copper deposits. These new targets are an important breakthrough in the exploration of the sediment-hosted copper system that is interpreted to be the potential source of the high-grade copper discovered at surface.
“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. The target is seen in both the gravity and IP data. This is a highly significant association and indicates a both dense and electrically chargeable body. The only known dense and chargeable geological feature at depth in the Storm area is sulphides.
“With our recent capital raise completed and strong support from the Nunavut Government, our focus remains to aggressively advance exploration and resource definition at the Storm Copper Project.
“We look forward to reporting on the results of this exciting next phase of exploration.”
Figure 1: Plan view of the 4100N Zone showing interpreted copper mineralisation footprint (defined by drilling, MLEM and VTEM), historical and recent drilling details, overlaying regional geology.
COPPER FOOTPRINT GROWING
The data validation and interpretation has been completed on drill holes SR23-10, SR23-11, SR23-12, SR23-16, SR23-17, and SR23-18. Most of the drill holes are extensional to the known mineralisation, significantly increasing the surface footprint of the 4100N Zone and, importantly, demonstrate that the mineralisation is open laterally in all directions.
The drilling results continue to show consistent copper grades and the excellent lateral continuity of the known copper mineralisation. The mineralisation is defined by broad intervals of vein and fracture style chalcocite, bornite and lesser chalcopyrite hosted within distinct, horizontally extensive dolomite layers.
The potential for further expansion of the high-grade, near-surface mineralisation at the 4100N Zone is supported by strong Moving Loop Electromagnetic (MLEM) and Vertical Time domain Electromagnetic (VTEM) anomalism in areas outside of the current drilling (Figure 1).
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.
AW1:AU
