American West Metals Claims Canadian Copper Discovery

THE DRILL SERGEANT: American West Metals (ASX: AW1) has claimed a new copper discovery at the company’s Storm copper project on Somerset Island, Nunavut, Canada.

American West Metals announced the discovery on the back of recent diamond drilling activities at the project that intersected thick intervals of copper sulphides demonstrating similarities to other sediment-hosted copper systems.

A total of 45.5 metres of visual sulphides intersected in drill hole ST23-01 comprising:

o 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

o 15m of visual breccia and vein-style copper sulphide (dominantly chalcopyrite) between 332m and 347m downhole – which was the first discovery intersection.

A second diamond drill hole, ST23-02, intersected a second and more impressive discovery intersection of:

o 37m of visual breccia-style copper sulphide (dominantly chalcocite) between 333m and 370m downhole.

“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,” American West Metals managing director Dave O’Neill said in the company’s ASX announcement.

“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 10 kiloetres 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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE