American West Metals has continued its unbroken run of hitting thick copper intervals at its Storm project in Canada, with its latest batch of eight holes all showing strong visual sulphides from reverse-circulation (RC) drilling. Management says assays received from its resource definition program include 15.2m at 1.2 per cent copper containing 4.6m going 2.8 per cent copper from 54.9m.
American West Metals has continued its unbroken run of hitting thick copper intervals at its Storm project in Canada, with its latest batch of eight holes all showing strong visual sulphides from reverse-circulation (RC) drilling.
Management says assays from the resource definition program at its first hole have also been received, unveiling 28.9m of high-grade copper mineralisation, which was broken down into 15.2m at 1.2 per cent copper containing 4.6m going 2.8 per cent from 54.9m; 7.6m grading 1.2 per cent copper including 3.1m running 2.4 per cent from 79.3m; and 6.1m at 1.1 per cent copper containing 3.1m going 1.4m from 120.4m.
The company is awaiting further assays from the other eight holes that have been completed at its 4100N zone. Adding to management’s excitement is the fact that all of its drill holes hit thick intervals of strong visual copper sulphides.
The latest success with drill bit, which defined strong near-surface copper mineralisation through an 850m-by-300m patch and remains open along strike, has seen the explorer add further drill holes to the program as it seeks to get a more accurate understanding of what treasures might be lying under the surface.
American West Metals managing director Dave O’Neill said: “Whilst we have only received the assays for the first drill hole of the current program, the results validate and exceed our initial visual estimates. This is a fantastic outcome and gives us confidence in our geological interpretations and assumptions on continuity of the mineralised zones.”
With an upcoming maiden resource estimate on the horizon, the company has also been busy running a moving loop electromagnetics survey across its 4100N, 2750N West and Tempest prospects. The results of the surveys will feed into further drilling.
American West has already enjoyed success in the area with results from its maiden probe at its 2750N zone identifying an extensive package of near-surface copper and doubling the volume of the area’s mineralisation. Headline results include a 2m section going 15.98 per cent copper from 70m, inside a larger 19m intercept at 2.08 per cent copper from 58m downhole.
The Storm project lies within a 4145-square-kilometre land package that also includes the Seal zinc project on Somerset Island in the Canadian territory of Nunavut. Together, Storm and Seal constitute the Nunavut projects and are currently owned by Aston Bay Holdings.
American West became the project operator under an option agreement that also gives it the opportunity to acquire an 80 per cent interest in the Nunavut projects.
The area has undergone extensive historical drilling and two separate copper sulphide systems have been discovered with multiple near-surface high-grade copper zones identified at several target zones in drilling across 15sq km. The area’s historical drill highlights include 19m at 3.41 per cent copper from surface and 110m at 2.45 per cent copper from surface.
Earlier this month, the International Copper Study Group argued the global copper market was facing another year of supply deficit. The group's updated April forecast for the year was for a supply shortfall of 114,000 tonnes, following on from last year’s 431,000-tonne deficit.
Last October, it predicted a shift to surplus this year to the tune of 155,000 tonnes. However, with usage, particularly in China, appearing to be grow faster than previously forecast, the market turnaround has been pushed out by a year.
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