American West Metals Limited announced further outstanding visual results for another four diamond drill holes completed by the Company at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada. Drill holes ST22-03, ST22-04, ST22-05 and ST22-06 were completed in the 2750N Zone and have all successfully intersected thick zones of breccia and massive sulphides (mostly chalcocite) hosted within much broader intervals of vein and fracture style copper mineralisation. A total of 789m of drilling has been completed to date on the shallow and high-grade 2750N Zone, with the drilling continuing to confirm the continuity and thickness of the ore system.

The mineralisation encountered within the latest drill holes and shows some similar zonation of the copper bearing minerals with chalcocite being the dominant mineral, and with chalcopyrite, bornite, cuprite and minor oxides being present within certain intervals. The 2750N Zone is the focus of initial resource definition drilling at Storm with the objective to define resources for a potential open-pit direct shipping ore (DSO) mining operation. Initial ore sorting test work on mineralisation from Storm generated a DSO product grading more than 53% Cu.

The combination of high-grade and shallow mineralisation at Storm provides a potential pathway to a very low footprint, ESG sensitive mining operation that produces an exceptionally high-value product with low capital and operating costs. ST22-03 was drilled to a downhole depth of 119m. The drill hole was designed to test the eastern continuity of mineralisation between historical drill holes ST99-22 and ST97-08.

These two historical drill holes are situated approximately 95m apart (Figure 3). Table 1 summarises the mineralisation as observed in ST22-03. Intersections are expressed as downhole widths and are interpreted to be close to true widths.

Visual estimates of sulphide type, quantity and habit should not be considered a substitute for laboratory assays. Laboratory assays are required to determine the widths and grade of mineralisation as reported in preliminary geological logging. ST22-04 and ST22-05 were drilled on the same section to test the vertical continuity of the mineralisation in the eastern portion of the ore system.

ST22-04 was drilled to 146m and ST22-05 was drilled to 89m. Both drill holes have intersected similar geology and mineralisation which provides strong confidence in the continuity of the main ore zone through this section of the 2750N Zone. Table 2 & 3 summarises the geology as observed in ST22-04 and ST22-05.

Intersections are expressed as downhole widths and are interpreted to be approximately 75-80% of true width. Visual estimates of sulphide type, quantity and habit should not be considered a substitute for laboratory assays. Laboratory assays are required to determine the widths and grade of mineralisation as reported in preliminary geological logging.

ST22-06 was drilled to a downhole depth of 152m. The drill hole was designed to test the continuity of mineralisation below historical drill hole ST99-19 which encountered 56m @ 3.07% Cu from 12.2m. Drill hole ST22-06 intersected visually similar geology and copper mineralisation to ST99-19, with mineralisation starting from 21.4m downhole.

The drill hole encountered a central zone of massive and brecciated sulphides within a broad interval of vein style, chalcocite dominant mineralisation. This drill hole confirms the continuity of the mineralisation at depth in the western part of the thick, structurally controlled mineral system. The 2750N Zone remains open to the west of drill holes ST99-19 and ST22-06 and this area is currently being drill tested.

To the west of the 2750N Zone is a large gully (Figure 2 & 3), and this may have been formed by a N-S fault orientated perpendicular to the main strike of the mineralisation. Importantly, extensive copper has been identified in outcrop across the gully to the west, which suggests that the mineralisation may continue for some distance along the strike of the 2750N Zone. Table 4 summarises the mineralisation as observed in ST22-06.

Intersections are expressed as downhole widths and are interpreted to be close to true widths. Visual estimates of sulphide type, quantity and habit should not be considered a substitute for laboratory assays. Laboratory assays are required to determine the widths and grade of mineralisation as reported in preliminary geological logging.

Figure 3 and Table 5 show details for drill holes completed at the 2750N Zone in the current program. The drill holes are part of the extensional and resource definition drilling for the 2750N Zone where historical drilling has encountered significant copper mineralisation, including 110m at 2.45% Cu from surface (drill hole ST97-08), and 56.3m @ 3.07% Cu from 12.2m (drill hole ST99-19). Significantly, the 2750N Zone copper mineralisation remains open at depth and along strike with potential for ongoing drilling to further expand the significant volume of mineralisation in this area.

Diamond drilling is continuing at the 2750N Zone with drill holes now targeting the far eastern and western extensions to the mineralisation. Further drill holes are planned to follow-up the results from this drilling. Preparations also continue for drill testing a number of high-priority electromagnetic (EM) conductors in the 2750N and 2200N Zones and deep targets that may represent the source of the near surface copper mineralisation.

These targets were identified by the 2021 fixed loop electromagnetic survey completed by American West Metals. Investors can expect regular updates on the progress of drilling as well as announcements for the assay results when they become available.