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- American West Metals (AW1) discovers a stacked system of new copper targets on-site at its Storm project in Canada
- The company has visually identified copper sulphides in diamond cores
- The holes were sunk in a relatively under-explored part of the project area
- The company believes its the first to log a copper discovery further south of a well-known geological formation
- AW1 shares are up 6.9 per cent, trading at 31 cents at 2:49 pm AEST
American West Metals (AW1) has confirmed its discovery of two new mineralised copper zones at its Storm project in Canada.
One new near-surface copper zone was uncovered from analysing a diamond drill hole core sunk on-site in a relatively unexplored corner of the company’s acreage.
The second copper system is deeper underlying, with copper sulphides visually confirmed in drillcore.
The company has named its new near-surface target Thunder as diamond drilling continues on-site.
The company believes its discovery is the first to be logged south of the Southern Graben Fault, a geological formation local to the area.
Further, geological particulars replicate those at other areas where high-grade copper has been hit.
“The mineralisation style and setting are very similar to the high-grade mineralisation within the 2750N Zone … located over 1km to the east of Thunder,” AW1 Managing Director Dave O’Neill said.
“The deeper copper intersection is very significant [for] understanding the overall copper endowment at Storm … this confirms the prospectivity of the whole area around, and to the south of the southern graben fault.”
American West’s announcement was the most viewed on HotCopper this morning as attention in the copper market continues to grow among retail investors and institutions alike.
AW1 shares were up 6.9 per cent, trading at 31 cents at 2:49 pm AEST.
