American West Metals Releases Drilling Results from Storm Copper Project in Canada
AW1 (AW1) Share Update December 2024 Sunday 15th
American West Metals Announces Drilling Results at Storm Copper Project
American West Metals Limited (ASX: AW1) has released the results of its 2024 drilling program at the Storm Copper Project on Somerset Island, Nunavut, Canada. The latest findings provide insights into the geological framework and mineral potential of the area.
Instant Summary:
- Completion of multiple Reverse Circulation (RC) drill holes in Storm area.
- Minor copper sulphide intersections in select drill holes.
- New discovery at Squall Prospect with significant copper assays.
- Updated geological model for the Storm Project.
Drilling Program Overview
The 2024 drilling program at the Storm Copper Project involved several Reverse Circulation (RC) drill holes designed to enhance the understanding of the region's stratigraphy and geological framework. The program aimed to validate geophysical surveys and assess the area's mineral potential.
Key drill holes, including SR24-046, SR24-050, SR24-060, and SR24-136, intersected minor, vein-hosted copper sulphides. These findings have contributed to refining the geological model for the updated Mineral Resource Estimate (MRE) of the Storm Project.
Squall Prospect Discovery
The newly discovered Squall Prospect was a highlight of the 2024 drilling program. Drill hole SR24-108, previously reported in September 2024, intersected breccias and vein-hosted chalcocite with assays of 2.4% Cu and 5g/t Ag. Follow-up drilling at SR24-135 confirmed additional copper mineralization, suggesting a promising new target for further exploration.
Geophysical and Geological Insights
The drilling data has improved the understanding of the Storm graben area's geological setting. The integration of geophysical survey data with drilling results has helped delineate key structural features and mineralization trends, setting the stage for future exploration efforts.
The drilling results provide valuable geological insights but indicate only minor copper sulphide intersections, which may not significantly impact the company's stock in the short term. However, the discovery at the Squall Prospect presents a potential upside for future exploration success.
Investor Reaction:
Investors and analysts may react cautiously to the minor copper intersections but could be encouraged by the new discovery at Squall Prospect. The company's strategic focus on expanding exploration in this promising area will be crucial for maintaining investor interest.
Conclusion:
American West Metals' continued exploration at the Storm Copper Project offers potential for future discoveries. Investors should watch for updates on further drilling and exploration activities, which could enhance the project's value and impact the company's market position.