How Does American West Metals Storm Project Compare to Other Global Deposits?
American West Metals Limited
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How Does American West Metals Storm Project Compare to Other Global Deposits?

Maiden Mineral Resource Estimate at Storm Project, Canada: A Comprehensive Analysis

The Storm Project, an 80% owned venture by American West Metals (American West) in Nunavut, Canada, has recently unveiled its maiden JORC 2012 compliant Indicated and Inferred Mineral Resource Estimate (MRE). This initial assessment marks a significant step in the development of what could be a globally influential copper district.

Remarkable Initial Results

The maiden MRE presents an impressive 17. 5Mt at 1. 2% Cu and 3. 4g/t Ag, with a 0. 35% Cu cut-off.

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This includes a substantial total metal content of 205Kt of copper and 1. 9Moz of silver, with 30% classified in the high-confidence indicated category. More notably, there is a higher-grade core of 11. 2Mt at 1. 5% Cu and 4. 3g/t Ag.

Potential for Low-Cost Development

A key feature of the Storm Project is its near-surface resource, suggesting the possibility of open-pit mining. The 100% fresh, chalcocite dominant copper sulphide is amenable to low-cost beneficiation processing. This, combined with the support from both Territorial and Federal Government in Canada for critical minerals projects, positions the project favorably for development.

Growth and Upside Potential

Open in All Directions: The resource remains open in all directions, highlighting the potential for significant expansion in 2024 and beyond.

Unincluded Discoveries: The 2023 high-grade copper discoveries at Thunder, Lightning Ridge, and Cyclone North are yet to be included in the MRE.

Emerging Mining Camp: The project is shaping up as a potential mining camp with multiple deposits and high-priority targets.

Expansive Belt Scale: Less than 5% of the 100km long copper-bearing horizon has been tested, including the promising Tempest Prospect.

Detailed Breakdown of the Deposits

The Storm Project comprises several key zones:

Cyclone (4100N Zone): Indicated and Inferred Sulphide resources are significant, with notable copper and silver content.

Chinook (2750N Zone): This zone also shows promising inferred sulphide resources.

Corona (2200N Zone) and Cirrus (3500N Zone): These areas contribute to the total inferred sulphide resources, albeit with lower Cu percentages.

Planned Activities for 2024

A major drilling program is planned for 2024 to expand the Mineral Resource. The focus will be on drilling out the 2023 discoveries, expanding known deposits, and testing new targets. Parallel efforts are underway for a Canadian NI 43-101 compliant MRE.

Management's Vision

Dave O’Neill, Managing Director of American West, expressed optimism about the project's potential. He emphasized the rapid definition of robust copper deposits close to the surface and the prospect of low-cost open-pit mining. O'Neill also highlighted the substantial growth potential and the company's commitment to further exploration and expansion activities.

The maiden JORC compliant MRE for the Storm Project signals the emergence of a potentially significant player in the global copper market. With its strategic location, favorable geological setting, and the aggressive exploration and development plans of American West, the Storm Project is poised to become a key asset in the world of copper mining. The anticipated expansions and exploration in 2024 and beyond will be closely watched by investors and industry experts alike, as the project continues to unfold its full potential.

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