{"id":9158,"date":"2024-05-07T05:55:12","date_gmt":"2024-05-07T05:55:12","guid":{"rendered":"https:\/\/economicherald.net\/?p=9158"},"modified":"2024-05-07T05:55:12","modified_gmt":"2024-05-07T05:55:12","slug":"new-mlem-data-shows-aw1-just-cant-stop-clocking-copper-in-canada","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9158","title":{"rendered":"New MLEM data shows AW1 just can\u2019t stop clocking copper in Canada"},"content":{"rendered":"

Special Report: Meanwhile in Canada, the globe-trotting, Aussie-listed American West Metals has clocked onto another string of \u201coutstanding\u201d new copper targets during the team\u2019s latest exploration activities at the Storm Copper Project on Somerset Island in Nunavut \u2013 the largest and northernmost territory of Canada. <\/p>\n

That\u2019s somewhere around here\u2026<\/p>\n

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Pic: Getty Images<\/em><\/p>\n

\u00a0<\/p>\n

The latest update from Storm follows American West Metals (ASX:AW1)<\/strong><\/a> successful and ongoing 2024 high-powered Moving Loop Electromagnetic survey, which has already identified a growing collection of conductive anomalies.<\/p>\n

They include multiple anomalies adjacent to known copper deposits and mineralisation, adding further prospective targets untested by drilling.<\/p>\n

AW1 says the latest hits have \u201coutstanding potential for rapid resource growth.\u201d<\/p>\n

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Pic: AW1<\/em><\/p>\n

\u00a0<\/p>\n

The maiden Mineral Resource Estimation (MRE) for Storm, announced earlier this year, and included 17.5Mt at 1.2% Cu and 3.4g\/t Ag and the new targets only add to the prospect of an MRE well beyond those numbers.<\/p>\n

American West Metals MD Dave O\u2019Neill, said initial data from the MLEM has brought into stark relief the new set of high-priority targets both along strike of known high-grade mineralisation, and also around and along strike from the known copper deposits.<\/p>\n

\u201cThe scale and strength of some of the new anomalies, and the low false positive rate when using EM systems at Storm, make them compelling targets that are ready to be tested with drilling,\u201d O\u2019Neill said.<\/p>\n

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Resource expansion<\/strong><\/h2>\n

\u201cGiven the MLEM only detects the higher-grade copper mineralisation at Storm, the potential copper endowment in the vicinity of the EM targets may be much more than the scale of the EM anomalies, further highlighting the resource expansion opportunity,\u201d O\u2019Neill added.<\/p>\n

\u201cThe survey results reinforced our belief in the outstanding growth potential of the project and that further, undiscovered zones of high-grade copper mineralisation exist in unexplored areas of the project.\u201d<\/p>\n

The MLEM data indicates that the high-grade copper mineralisation at the Cyclone Deposit \u2013 already defined as a JORC compliant 12.1Mt at 1.2% Cu over a zone of 1300m by 400m \u2013 \u201clikely extends in most directions.\u201d<\/p>\n

\u00a0<\/p>\n

Extensions on extensions<\/strong><\/h2>\n

What\u2019s also got the AW1 team pumped with the latest MLEM returns is the string of new EM anomalies that have also been identified over 1000m along strike from the Chinook Deposit (2.2Mt at 1.5% Cu), as well as in the areas of the 2023 discoveries at the Thunder, Lightning Ridge and Gap Prospects.<\/p>\n

O\u2019Neill says the signs scream of the strong indicative potential for extensions to the already known high-grade copper mineralisation.<\/p>\n

Track-mounted Reverse-Circulation (RC) drilling is underway and will test these new targets as well as several historical EM anomalies and other high-priority targets for near-surface high-grade copper mineralisation.<\/p>\n

O\u2019Neill says that drilling activities are also continuing in the Storm area, with the mobilisation of a second reverse circulation rig currently underway.<\/p>\n

Ongoing drilling will aim to test \u201cthese exciting new exploration and resource targets, amongst others, in the coming weeks.<\/p>\n

\u201cWe look forward to providing regular updates as the drilling and MLEM programs continue,\u201d he said.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with American West Metals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post New MLEM data shows AW1 just can\u2019t stop clocking copper in Canada<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Special Report: Meanwhile in Canada, the globe-trotting, Aussie-listed American West Metals has clocked onto another string of \u201coutstanding\u201d new copper targets during the team\u2019s latest [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9159,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nNew MLEM data shows AW1 just can\u2019t stop clocking copper in Canada - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=9158\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New MLEM data shows AW1 just can\u2019t stop clocking copper in Canada - 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