Resource Expansion at Risk Pending Assay Confirmations at Storm Project

Robust Drilling Results at Storm Copper Project

American West Metals Limited (ASX, AW1) has released encouraging results from its 2025 drilling campaign at the Storm Copper Project, located on Somerset Island in Nunavut, Canada. The company’s recent reverse circulation (RC) and deep diamond drilling programs have intersected thick, near-surface intervals of high-grade copper mineralisation, reinforcing the project's potential for resource upgrades and expansion.

Initial assays from ten RC drill holes across multiple deposits, including Corona, Thunder, Lightning Ridge, and The Gap, have confirmed copper grades exceeding current resource estimates. Notably, hole SR25-005 at the Corona deposit returned 12.2 meters at 1.9% copper and 77 grams per tonne silver starting from 19.8 meters depth, including a higher-grade 4.6 meters at 3.2% copper.

Deep Diamond Drilling Highlights Widespread Mineralisation

Complementing the RC results, deep diamond drilling has intersected substantial visual copper sulphide mineralisation. Drill hole ST25-04, targeting the Cirrus deposit’s deeper horizons, intersected approximately 57 meters of sediment-hosted copper mineralisation. This hole also provided valuable stratigraphic data, indicating a large-scale mineral system that remains open at depth. The consistent presence of copper sulphides across all deep drill holes to date underscores the widespread nature of the mineralisation.

American West Metals’ Managing Director, Dave O’Neill, emphasised the significance of these findings, noting the 100% copper hit rate in deep drilling and the potential for further discoveries beyond the current resource envelope.

Resource Upgrade and Expansion Prospects

The drilling results support a strong case for upgrading the existing inferred resource categories to indicated status, particularly within the initial open pit designs. The Gap prospect’s drilling has extended the known mineralisation envelope, suggesting the possibility of defining maiden resources for this satellite deposit. These developments are expected to enhance the overall copper endowment of the Storm Project.

American West Metals has also reported promising metallurgical test work, including ore sorting and flotation tests, indicating efficient copper recovery and potential for low-footprint processing methods. The company’s resource estimate, prepared under the JORC Code by independent consultants, assumes open-pit mining with a copper price of USD 3.85 per pound and a 90% recovery rate.

Ongoing Exploration and Future Outlook

With laboratory assays pending for some drill holes and further drilling underway, American West Metals is poised to refine its resource model and explore additional targets within the project area. The company’s strategic focus on ethical, low-impact mining in Tier 1 jurisdictions aligns with growing demand for responsibly sourced base metals critical to the global energy transition.

As the Storm Copper Project advances through exploration and resource definition phases, investors and stakeholders will be watching closely for assay confirmations and subsequent updates that could shape the project’s development trajectory.