Latest news with #CycloneDeeps
West Australian
10-07-2025
- Business
- West Australian
American West strikes deep, thick copper at Canadian play
American West Metals has intercepted thick copper sulphides at depth at its Storm Copper project in Nunavut, Canada, with a diamond drill hole intersecting a lengthy 47 metres of visual copper sulphide mineralisation at its high-priority Cyclone Deeps target. The result reaffirms the potential for a large-scale, stacked copper horizon beneath the company's flagship Cyclone deposit, setting the stage for significant resource growth across its massive 2200-square-kilometre tenure. The 440m deep hole was collared in the central Graben area to test the Cyclone Deeps target, a deep extension of the near-surface 13-million-tonne plus Cyclone deposit - the project's largest known resource. The hole intersected two broad zones of visual copper sulphide mineralisation between 284m and 319m, and 368m to 380m downhole, totalling 47m of sulphide-bearing intervals. Hosted within fractured dolomitic mudstones of the prospective Allen Bay Formation, the mineralisation features veinlets and matrix breccias with the sulphide-bearing copper mineralisation. The visual characteristics of the intercept mirror those seen at the edges of the Cyclone deposit, reinforcing the geological model of a fault-offset, sediment-hosted copper system that extends to significant depths. An American West hole last year was interpreted to have intercepted the Cyclone Deeps target, where it returned 10m of mineralisation running 1.2 per cent copper from 311m. The confirmation of the interpreted mineralisation will be returned from lab analysis within four to six weeks. Adding firepower to the exploration campaign, American West has completed the first phase of a mobile magneto-telluric (MMT) survey across its core Midway-Storm-Tornado corridor, covering 1320 line-kilometres. The survey was designed to detect deeper copper sulphide accumulations, having already identified six conductive anomalies at depths less than 350m, including one corresponding to the Cyclone deposit. The correlation to the company's largest deposit validates the technique. Management believes several larger anomalies at depths beyond 350m are potentially linked to very large structural or geological shifts and corresponding copper deposition. Detailed data processing and 3D modelling are underway to refine the deeper targets for drilling, while American West's reverse circulation drilling program continues to progress. The company says 12 holes have already been completed, including seven resource definition holes at its Thunder, Lightning Ridge and Corona deposits. Two holes have been plunged to test shallow extensions of the shallow Cyclone, and three wildcat holes have been drilled to investigate high-priority targets at The Gap and southern graben areas. Initial observations from these holes are expected within one to two weeks, with assays to follow in four to six weeks. American West's efforts have received a boost from the Nunavut government, which has awarded CAD$250,000 (A$280,000) through its Discover Invest Grow program to support the isolated state's resource economy. The Storm project is fast becoming a leading development opportunity for the burgeoning Nunavut, where a current mineral resource sits at 20.6 million tonnes at 1.1 per cent copper and 3.3 grams per tonne silver, equating to 228,500t of contained copper and 2.2M ounces of silver. With less than 5 per cent of the 110km copper belt systematically explored, the latest drilling and geophysical results suggest significant upside remains. The company's preliminary economic assessment recently projected a US$149 million (A$228 million) net present value and a 46 per cent internal rate of return for a low-capex, 10-year open-pit operation. Add to that, 80 per cent initial capital secured through an offtake agreement with Ocean Partners Holdings and a red-hot red metal price pushing north of US$10,000 (A$15,300) for the first time this year. As American West ramps up its 2025 program, the thick copper intercept at Cyclone Deeps, combined with promising geophysical anomalies, reaffirm the company's belief that 'every fault, every space, every gap in the rocks that we hit, has copper in it'. At the continued rate of discovery, the already 10-year mine life operation could be looking at a much bigger facelift for Storm, let alone the broader 110km prospective Central Graben. Is your ASX-listed company doing something interesting? Contact:
West Australian
12-06-2025
- Business
- West Australian
American West gears up for copper drilling deluge in Canada
American West Metals is charging into exploration season at its flagship Storm copper project in Nunavut, Canada, with the drill bits primed to probe a bevy of deep, high-grade copper targets across its massive 2200-square-kilometre tenure. Topping the company's hit list is Cirrus Deeps, a high-priority electromagnetic (EM) anomaly beneath its existing Cirrus deposit. It sits in the same stratigraphic sweet spot as the project's largest deposit, Cyclone. Cirrus is linked to the mineral-rich Southern Graben Fault. Early drilling intersected fractured zones of sporadic copper sulphides, offering an encouraging sign of a significant mineralisation host. The company also seems buoyed by its Cyclone Deeps target, where a deep diamond hole last year struck 10 metres at 1.2 per cent copper from 311m. The hit was considerably deeper than the main Cyclone deposit's depth, suggesting a faulted extension that could run for more than 5km in strike. Closer to surface, a reverse circulation drilling program will target resource expansion activities at American West's Thunder, Lightning Ridge and Corona deposits, alongside high-grade prospects such as The Gap that last year returned a stellar 20m at 2.3 per cent copper. The company says it is rolling out a regional mobile magneto-telluric survey to test for signs of deeper copper sulphide targets across the 110km copper belt. The survey promises sharper resolution than historic geophysics, potentially lighting up new drill targets in the Midway-Storm-Tornado corridor and beyond. The Storm project has a mineral resource of 20.6 million tonnes grading 1.11 per cent copper and 3.34 grams per tonne (g/t) silver, equating to 228,500 tonnes of contained copper and 2.21 million ounces of silver. With less than 5 per cent of the 110km belt systematically explored, American West is betting on a string of high-grade discoveries to elevate Storm to a district-scale copper system. A robust economic assessment already pegged Storm with a US$149 million net present value and a two-year payback time for its low-capex, 10-year mining operation. The company is flat out preparing its camp for exploration season, targeting a pipeline of prospects that could significantly expand the project's already impressive resource base. Management is pushing ahead in the meantime with pre-feasibility study work to potentially lock-in 100 per cent debt financing. It has already sewn up 80 per cent of its initial capex thanks to a 100 per cent offtake agreement with United Kingdom-based trading services company Ocean Partners Holdings. As drilling ramps up and the upcoming mobile survey delivers new targets, American West looks poised to expand its already considerable resource base at Storm. The project seems to be shaping up as a low-risk, high-reward copper development play with plenty of resource upside. Is your ASX-listed company doing something interesting? Contact:
