AW1 - American West Metals

[System]

American West Metals Limited (AW1) is a mining company that has secured an interest in three base metal projects, focused on copper and zinc, in North America

The Company currently has an interest in the following three projects:

a. West Desert Project: which is located in Utah, USA - a state with a rich mining history and home to North America’s largest copper mine, Rio Tinto’s (ASX: RIO) Bingham Canyon. The West Desert Project comprises a large porphyry related, zinc-copper-indium skarn/carbonate replacement deposit (West Desert Deposit) plus underexplored tenure that has potential for further mineral resources to be discovered. A historical resource under Canadian NI-43-101 standards has been established at the West Desert Deposit. American West will undertake work to define a 2012 JORC resource as well as carrying out regional exploration to search for more discoveries. At this stage there has been insufficient work to confirm a JORC Code resource and there is no certainty that such a mineral resource will be established.

b. Storm Copper Project and Seal Zinc Project: in Nunavut, Canada. Thick intervals of high-grade copper and zinc mineralisation have been intersected from surface. The discoveries lie within a mineralised trend that has a strike of 120km with less than 10km explored. American West will undertake drilling and exploration programs to support the definition of a JORC Code resource for each of the copper and zinc deposits as well targeting the discovery of further deposits. At this stage there has been insufficient work to confirm a 2012 JORC resource and there is no certainty that such a mineral resource will be established.

c. Copper Warrior Project: in Utah, USA - located within the Paradox Basin that is known for its world-class endowment of copper. Large volumes of outcropping copper are present across the project tenure, which is located a short 20km from the operating Lisbon Valley copper mine (privately held). American West will undertake drilling and exploration programs to determine the full extent of the mineralisation at the Project.

It is anticipated that AW1 will list on the ASX during December 2021.

American West Metals Ltd

American West Metals an Australian company with a strategy to achieve growth in shareholder wealth through the discovery and development of major mineral deposits.

www.americanwestmetals.com

 

[Dona Ferentes]

Listing date	07 December 2021 12:30 PM AEDT ##
Contact details	https://www.americanwestmetals.com/ Ph: +61 8 6109 6653
Principal Activities	Mining (identifying prospective mineral exploration grounds within its projects and exploration and development of those prospective areas).
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	AW1
Capital to be Raised	$15,000,000
Expected offer close date	19 November 2021
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager).

 

[frugal.rock]

Thursday, 1 st September 2022

41m at over 4% copper intersected at Storm, Canada

• Drill hole ST22-05 from the 2750N Zone has intersected:
• 41m @ 4.18% Cu from 38m downhole, including;
• 15m @ 10.05% Cu from 47m downhole, and including;
• 5m @ 24.28% Cu from 48m downhole
• Further assays for Storm are pending with more results expected in the coming days

 

[Dona Ferentes]

come alive

 

[The Triangle]

AW1 released a MRE today for a deposit in Utah. For anyone following the FFX saga, I would note Dr. Michael Anderson is on the board of AW1... Not sure I would want to put my dollars into a company he is involved with until we understand what happened to FFX. AW1 also has a few ex-Western Areas people on the board... Western Areas hardly covered themselves in glory over the past decade. On paper though the board looks very highly qualified...

Roughly I get about $90/tonne and $160/tonne revenue multiplying out spot rates and listed recoveries. Add in things like taxes, royalties, additional refinery costs and all of a sudden, I'm not very excited. AW1 also saying there is indium there as well, but don't have any numbers yet. I think those grades are questionably to justify mining - but they aren't terrible if there is any value in the indium - but with regards to that I found this below from the prospectus. A few fingers in the cookie jar already...

Company had 0.2 quarters of funding left as of the quarterly, so a capital raising must be coming up very soon. SP today is below 7 cents. Market not too pleased it seems!

 

[frugal.rock]

Tuesday, 13rth June 2023

Breakthrough results identify ‘Mother Lode’ copper target at the
Storm Copper Project, Canada

• High-resolution ground gravity survey completed by American West Metals at Storm identifies
significant new anomalies that support the potential for a large-scale sediment-hosted copper
system as predicted by geological modeling
• Strong gravity anomalies identified below and adjacent to the known near-surface copper
mineralisation extend for several kilometres and are interpreted to represent dense bodiesthat
are consistent with copper sulphide deposits
• The outer periphery of a large gravity anomaly was intersected by a 2022 drill hole that terminated in 68m of copper-bearing sulphide mineralisation (remaining open at depth) from 277m downhole
• Gravity anomalies are coincident with historical electromagnetic (EM) and induced-polarisation (IP) anomalies indicating both dense and electrically chargeable bodies which are interpreted to be consistent with copper sulphides

 

[Swervin Mervin]

This looks to good to be true! Got in on Thursday at 8.5c and some 20c Sep24 oppies at 2.6c. Nice to be in on the start of a run for a change. These guys have super high grade copper sulphide in thick interesections. Market asleep on this one

 

[houtman]

This looks to good to be true! Got in on Thursday at 8.5c and some 20c Sep24 oppies at 2.6c. Nice to be in on the start of a run for a change. These guys have super high grade copper sulphide in thick interesections. Market asleep on this one

Nice work Mervin,

Good result at the cricket.

I bought into these late January at 1/2 cent higher than today's close, only to watch it plummet to <5c, then a crappy cap raise.

It read too good to be true to me back then and looking back, it was obvious that waiting for a period was the best option.

I'm hoping they just concentrate on Storm and minimal spend on the rest.

The latest gravity results have certainly increased interest and the associated announcement is worth a good read.

See what comes of it.

 

[Swervin Mervin]

Nice work Mervin,

Good result at the cricket.

I bought into these late January at 1/2 cent higher than today's close, only to watch it plummet to <5c, then a crappy cap raise.

It read too good to be true to me back then and looking back, it was obvious that waiting for a period was the best option.

I'm hoping they just concentrate on Storm and minimal spend on the rest.

The latest gravity results have certainly increased interest and the associated announcement is worth a good read.

See what comes of it.

Goodonya for holding mate! Another nice rise today. Might be back to the IPO price in a few days at this rate. Talk of it being one of the highest grade resources in the world. No wonder its getting some more interest now. Good luck mate

 

[Swervin Mervin]

What a day, almost finished on the high of the day with volume through the roof. Maybe 20c by the end of the week?

 

[Dona Ferentes]

What a day, almost finished on the high of the day with volume through the roof. Maybe 20c by the end of the week?

Issue Price

AUD 0.20

 

[Swervin Mervin]

Tried its best but not quite. Oh well there’s always next week

What a day, almost finished on the high of the day with volume through the roof. Maybe 20c by the end of the week?

 

[houtman]

It's been an interesting fortnight of news for AW1 holders.

-A couple of "please explains" from the ASX,
-An 8% copper intersection.
- A 9.5c/share cap raising.

And now, 6 trading days after the 9.5c cap raise, we are at a share price of 19.5c with no additional news.

I don't know what to make of it all.
Maybe they just aren't very good at maximizing cap raisings.

 

[Swervin Mervin]

It's been an interesting fortnight of news for AW1 holders.

-A couple of "please explains" from the ASX,
-An 8% copper intersection.
- A 9.5c/share cap raising.

And now, 6 trading days after the 9.5c cap raise, we are at a share price of 19.5c with no additional news.

I don't know what to make of it all.
Maybe they just aren't very good at maximizing cap raisings.

People are gambling on the diamond drilling of the motherlode anomaly starting anyday now

 

[frugal.rock]

Has travelled nicely from that first bar pop on 13th June.
Chart update.

 

[Barnouste]

load up in the next month they're keeping it down and you may get in cheaper and keep your eye on it because it leaks as seen last may and june with the asx asking questions and then sell the lot before winter sets in. last winter it dropped 70% so expect more of the same the ultimate pump and dump stock

 

[debtfree]

Quick chart update.

 

[peter2]

Researching this little copper explorer as price is sneaking higher.

AW1 has one exploration site in North Canada, way up north!

Exploring way up north is not about kicking over a few rocks. It's cold up there.

 

[peter2]

Thick new copper zones defined in drilling at the Storm Copper Project, Canada.

That's the latest news. Oh, and I've selected it in the June 2024 monthly comp.

Brrr, that's cold work up in Nunavut.