American West Metals has unveiled a wave of new copper targets at its Storm project in Nunavut, Canada. The latest slew of greenfield copper prospects underscores the “vast greenfield potential” the company says is remaining at its 110km long copper belt on Somerset Island.
Geological mapping, geochemical and geophysical sampling by American West has defined two new prospective areas in its Seabreeze and Hailstorm prospects.
The newly defined Seabreeze prospect, at the northwestern extent of the copper belt, spans an impressive 10km by 2km.
Sampling and gravity surveys identified anomalous copper and dense features within what management believes to be the Allen Bay rock formation - the host rock formation for the company’s existing copper resources at Storm.
The Hailstorm prospect, immediately adjacent to the existing deposits of Chinook, Thunder and Corona, has raised eyebrows with the discovery of chalcocite gossans returning lab busting grades exceeding 50 per cent copper – the upper most limit for the lab testing technique.
Covering a 250 metre by 250m anomaly along a fault structure, the setting mirrors Storm's highest-grade deposits. With massive copper sulphides and compelling structural indicators, Hailstorm will be a priority for drill testing in the new year.
At the previously identified Tornado prospect, 5km along strike from the resource at Storm, deep-searching electromagnetic (EM) surveys have pinpointed two new conductors below the limits of previous drilling. The company believes the anomalies also exist within the interpreted Allen Bay formation and represent deeper copper sulphide targets for future wildcat diamond drilling holes.
“Drilling and geophysics have demonstrated that the style and setting of the base metal mineralisation within the regional target areas show similarities to the known copper deposits of the Storm area and are typical of sedimentary hosted copper systems. Whilst this is not surprising, given we know that a district-scale mineralisation event has taken place on Somerset Island, it gives us further confidence that the project has significant untapped potential.”
Further afield at the Tempest prospect, about 40km south of the main Storm deposits, historic surface grab samples up to 38.2 per cent copper and 30.8 per cent zinc prompted American West to conduct reconnaissance drilling to test for Storm-style stratigraphy and copper mineralisation.
Although the initial drill holes have yet to replicate these stellar surface grades, the company says Storm-style stratigraphy and thick intervals of the Allen Bay formation were intercepted.
Management say the latest findings may indicate the current drill holes have intersected the lower and less prospective part of the Allen Bay sequence and require follow-up EM for confirmation.
American West says significant news remains to be released to the market in the coming months. Assay results from recent drilling is expected to feed into an updated resource model at Chinook and Cyclone, while ongoing economic studies at Storm are also anticipated to be delivered in the new year.
The company tabled a sizable maiden resource estimate for its regional copper play in January this year, reporting 17.5 million tonnes at 1.2 per cent copper and 3.4g/t silver – equating to 205,000t of copper and 1.9 million ounces of silver.
It has since completed 23,000m of drilling, uncovering additional high-grade satellite discoveries at the nearby Thunder, Lightning Ridge, Cyclone North and Cyclone South-west prospects. Notable hits include 48.6m grading 3 per cent copper, 15.2m at 2.3 per cent, 27.4m running at 1.1 per cent and 15.4m at 1.4 per cent – which are all yet to be included in the resource estimate.
Expanded EM surveys are expected to test American West’s more regional targets along the belt as the company continues preparations for its fully funded 2025 drilling programs.
With these new discoveries adding depth to an already promising portfolio, American West is on a fast track towards unlocking potentially more aggressive weather phenomenon-based copper deposits. Sitting on a bevy of cash and a big resource that will soon grow, it looks like next year could be as eventful as this one for American West shareholders.
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By Andrew Todd
