Storm Copper
American West Metals’ Storm Copper Project is located on Somerset Island, Nunavut, Canada. The Project covers an area of over 4,000 square kilometres within the Polaris mineral district, and is just 120km south of Resolute Bay, the regional community and logistics hub.
Storm is owned by Aston Bay Holdings Ltd (TSX-V: BAY). American West has an exclusive option to acquire 80% under the Storm Option Agreement.
Geology
The Storm Copper Project is a sediment hosted copper discovery consisting of two distinct styles of mineralisation:
- Widespread, high-grade copper mineralisation near surface;
- And a significant new discovery of stratiform copper sulphides at depth.
Highlights
- Scale: Regional scale potential with over 40Ha of high-grade copper mineralisation across 4 main prospects
- High Grade: Drilling has returned an averaged mineralised interval thickness of 24m and average mineralised interval grade of 2.15% Cu; with standout intercepts including 41m @ 4.18% Cu, and 110m @ 2.45% Cu
- Near Surface Mineralisation: Multiple near surface high-grade copper zones identified indicating large scale, open pit potential
- Major Copper System At Depth: In 2022, American West Metals discovered evidence of a major sedimentary copper system at depth associated with an 800m x 300m EM plate, which bears similarities to other large scale global copper deposits.
- Exploration Upside: Excellent expansion potential with untested geophysical anomalies within a large land package
- Expediated Production Timeframe via Direct Shipping Ore (DSO) Potential: DSO potential confirmed with initial ore sorting test work returning a spectacular >53% copper product with further scoping studies underway.
- Low Environmental Footprint: Storm has the potential to be a low capital, low footprint mining operation with strong ESG credentials.
Large Exploration Program Underway
Exploration is currently underway at Storm to define maiden resources of the near-surface mineralisation, and to follow-up the exciting discovery of a major sediment hosted copper system at depth.
To date, drilling of the near-surface mineralisation at Storm has returned an average mineralised interval thickness of 24m and average mineralised interval grade of 2.15% Cu. There is outstanding potential to grow the mineralised footprint with numerous surface gossans and geophysical anomalies currently untested.
Exploration is also focused on the discovery of copper sulphides at depth, below the near-surface mineralisation. A ground gravity survey is underway which will aim to define targets, in conjunction with electromagnetics, for diamond drilling.
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Direct Shipping Ore (DSO) potential
The near-surface mineralisation at Storm is high-grade and amenable to simple beneficiation techniques. Test work using a full scale Steinert ore sorter has produced spectacular results from typical Storm mineralisation by generating a >53% copper product.
This technology and process pathway has the potential to remove the need for a traditional floatation plant and associated tailings facility, reducing the operating footprint and significantly lowering capital.
Scoping level activities are currently underway to optimise and refine the process further and is expected to be completed by Q4 2023.
American West Metals believes there is an outstanding opportunity to define copper resources at Storm that will support a high margin, low cost open pit mining scenario.
