American West Metals

Major Copper Discovery At The Storm Copper Project, Canada

American West Metals Ltd (American West or the Company) (ASX: AW1 | OTCQB: AWMLF) is pleased to provide an update on the diamond drilling activities at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut.


  • Diamond drilling of large gravity target intersects thick intervals of copper sulphides
  • The discovery drill holes show similarities to many of the world’s major sediment-hosted copper systems, including the deposits of the Kalahari Copper Belt and Central African Copper Belt.
  • Total of 45.5m of visual sulphides intersected in drill hole ST23-01 comprising:
    • 30.5m of breccia-style visual copper sulphide (dominantly chalcocite) within three zones associated with the shallow copper mineralisation of the 4100N Zone between 45m and 86m downhole, and
    • 15m of visual breccia and vein-style copper sulphide (dominantly chalcopyrite) between 332m and 347m downhole – the first discovery intersection
  • Diamond drill hole ST23-02 has intersected a second and more impressive discovery intersection:
    • 37m of visual breccia-style copper sulphide (dominantly chalcocite) between 333m and 370m downhole
  • The two diamond drill holes are located 680m apart – the continuity of the mineralised horizon and the size of the gravity anomaly (>5km long and up to 1km wide) suggests that drilling has potentially identified a very large copper deposit
  • Mineralisation was intersected in both holes at the top of the modelled gravity anomaly, highlighting the effectiveness of the technique for exploration targeting
  • Gravity targets similar to that intersected by these initial diamond drill holes cover an extensive area at Storm and remain untested by drilling, supporting the potential for a major, regional-scale copper system
  • Diamond drilling continues on high-priority copper targets with first assays expected in the next 4 weeks
  • Reverse circulation resource definition drilling is also underway on near-surface copper targets with results from the 2750N and 2200N Zones expected shortly
Dave O’Neill, Managing Director of American West Metals commented:

“We are very excited to announce that the diamond drilling has had immediate success and produced spectacular results confirming the presence of a major copper system within the Storm Project.

“These outstanding results are the product of systematic and persistent exploration, and further highlight the quality and huge exploration potential of the landholding.

“The first two drill holes have discovered a new copper deposit below the near-surface mineralisation with both holes intersecting thick intervals of copper sulphide at the same stratigraphic horizon.

“The drill holes were targeting the first of a series of extensive gravity anomalies that were defined earlier this year, and have intersected a thick, sulphide and organic- rich unit. We believe this to be the source of the gravity anomalism, and given the large spacing between drill holes and size of the modelled gravity anomalies, the potential volume of mineralisation is very significant. This is a major copper discovery.

“The scale of the opportunity is enormous, with airborne and ground gravity anomalies that extend for over 10km to the east into our Blizzard and Tornado Prospect areas.

“The RC drilling on the high-grade near surface deposits is also advancing rapidly, and we plan to give an update on the 2750N and 2200N Zone results shortly.

“We look forward to providing regular news flow on this exciting drilling program.”

Figure 1: Strong chalcocite (dark grey) breccia fill and veining in drill hole ST23-02 from approximately358.2m downhole. Chalcocite is a copper sulphide mineral and contains approximately 79.8% copper.

Visualestimatesofmineralabundanceshouldneverbeconsideredaproxyorsubstituteforlaboratory analyses where concentrations or grades are the factor of principal economic interest. Laboratory assays are required to determine the presence and grade of any contained mineralisation within the reported visual intersections of copper sulphides. Portable XRF is used as an aid in the determination of mineral type and abundance during the geological logging process.


Click here for the full ASX Release

This article includes content from American West Metals, 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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Figure 1. New JJB Property location and expanded SAY Property boundary. (CNW Group/Finlay Minerals Ltd.)

JJB PROPERTY:

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SAY PROPERTY:

Lying 4 km south of Finlay's new JJB Property, work continues on the SAY Property, which has recently been expanded with additional staking to the north and south. The SAY Property now totals 26,202 hectares. The SAY Property was acquired in 2024, and an inaugural field program focused on chip sampling and mapping along the 4.3-kilometer-long SPUR Trend. This led to the discovery of the AG Zone and confirmed the continuity of high-grade Cu-Ag mineralization in the East Breccia Zone.

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Details on the SAY Property, can be found in the SAY Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .

References:

*

Refer to finlay minerals ltd. News Release # 11-24 dated October 3, 2024 entitled: " Finlay Minerals has completed its Inaugural Field Program at the High-Grade Copper-Silver SAY Property " available on SEDAR at www.sedarplus.ca.

Qualified Person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100%-owned and operated properties in northern British Columbia . In addition to the JJB & SAY Properties, the Company holds the:

  • PIL Property , which covers 13,374 ha in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. Exploration on the PIL Property is fully funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan (Refer to news release FYL NR03-25 entitled: "Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties ". ) The PIL is neighboured by Amarc Resources and Freeport-McMoRan's joint venture JOY Project and TDG Gold Corporation's Shasta/Baker and Sofia Properties. The PIL Property is also 25 km northwest of Centerra Gold's past-producing Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

  • ATTY Property covers 3,875 ha of sub-alpine terrain in the southern Toodoggone region. Exploration on the ATTY Property is also full-funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan in April 2025.The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Project and the joint-venture JOY Project held by Amarc Resources and Freeport-McMoRan. The ATTY Property KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.

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Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown
President, CEO & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the JJB and SAY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

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