American West (ASX:AW1) shares on rise, here’s why

September 30, 2022 03:02 PM AEST | By Sonal Goyal

American West (ASX:AW1) shares on rise, here’s why — Image source: © 36clicks | Megapixl.com

Storm Copper Project update

On 28 September 2022, American West shared the initial assay results from a drill hole at the Storm Copper project via ASX announcement.

The company said that the discovery drill hole is related to untested and coincident geophysical anomalies. The discovery suggests the possibility of a extensive sedimentary copper system at depth.

More about the possibility of a sedimentary copper system

The style of mineralisation identified at the storm project is similar to the large deposits like Kupferschiefer deposits in Germany and Central African copper deposits.

According to ASX announcement, the geology intersected at the Storm drill hole has three components that are necessary for ‘sediment hosted ore forming processes.’ The three key elements are:

In a statement, American West said that the central garben of the project area is a perfect trap for ore-forming fluids, and it would be a centre of attention for further exploration.

The managing director of American West, Dave O’Neill commented on the initial drilling results that,

Plan ahead!

An update about the 2750N zone drilling can be expected in a few days, as per the company’s announcement. With the aim to optimise the process of direct shipping ore product production, beneficiation test work is expected to start shortly.

In addition to this, the company informed that a detailed review of gravity anomalies and induced polarisation is underway. Reportedly, the existing dataset indicates numerous anomalies centred around the central graben faults and located beneath high-grade surface mineralisation. Thus, it offers compelling targets for future exploration.

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