Highlights

• American West defines a conceptual exploration target of about 110–214 million tonnes at the Storm Copper Project.

• The estimated target grades range from 0.59% to 1.02% copper across seven priority areas.

• Storm already contains a 28.2 million tonne mineral resource and a 12.58 million tonne ore reserve.

• Drilling and surface geophysics are planned for 2027 to investigate the identified exploration areas.

An exploration target at the Storm Copper Project has set out a much larger area of potential mineralisation for future testing. American West Metals Limited (ASX:AW1) has defined a JORC 2012 exploration target of approximately 110–214 million tonnes grading 0.59%–1.02% copper. This estimate is conceptual: the target areas do not yet have sufficient exploration to support a mineral resource estimate.

How Large Is the Exploration Target?

The announced range equates to approximately 646,000 tonnes to 2.2 million tonnes of contained copper in conceptual target material. It sits outside the existing mineral resource and is not an addition to established mineral resources or ore reserves. Storm, on Somerset Island in Nunavut, Canada, is 80%-owned by American West and already hosts a resource of 28.2 million tonnes at 1.0% copper and 3.3 grams per tonne silver. The project also has a reserve of 12.58 million tonnes at 1.2% copper and 3.71 grams per tonne silver.

Where Could Exploration Focus First?

The target comprises seven areas: resource expansion, the Deeps Zone, Central Graben, southeast stratabound mineralisation, southeast structural mineralisation, Tornado and Chevron. The areas were selected using the geological and deposit models developed through earlier resource estimation and exploration. Tonnages and copper grades vary among them; each will require testing before the interpreted material can be evaluated as a mineral resource. Their combined range reflects uncertain geological dimensions and grade continuity, rather than a declared inventory.

How Does This Fit Into the Existing Project?

The new exploration target follows work associated with the Storm resource and a positive pre-feasibility study. It covers only a limited section of the project’s broader 110-kilometre copper belt. That distinction is important: the exploration target addresses specific interpreted zones, while the wider belt remains a larger geological setting. The project’s established resource, reported ore reserve and conceptual exploration target are different classifications and should not be combined into one resource figure.

What Must Happen Before the Estimate Can Change?

American West plans drilling and surface geophysics beginning in 2027 to investigate the identified areas. Such work can test whether copper mineralisation is present at the interpreted scale and whether sufficient evidence exists for future resource estimates. The company cautions that the potential quantity and grade are conceptual and that it is uncertain whether further exploration will deliver a mineral resource. The disclosed range establishes a basis for exploration planning, not a guaranteed conversion into reportable resources.

What Comes Next?

The seven targets give the planned 2027 field programme a defined set of geological questions to test. Of particular importance will be whether drilling supports the interpreted continuity, size and copper grades across the nominated zones. Results may refine the conceptual ranges or change exploration priorities. Until further work is completed, the target figures should be read alongside, but kept separate from, Storm’s already reported mineral resource and ore reserve.