AW1 management believe Storm Copper Project is a Global...

AW1 management believe Storm Copper Project is a Global significant copper deposit. Why?

Statements from Dave two months ago,

Storm Copper Project:

• All holes drilled during 2023 struck copper sulphides,
• Vast majority of Storm is economic,
• Confirmed to be a Camp Scale copper deposit,
• Comparable to Central African Sedimentary Copper Deposits with mine life in the order of 30+ years,
• Storm contains a high grade copper system at depth,
• Only 5% of the copper belt has been explored on Somerset Island by AW1 & Aston Bay Holdings,
• MRE - targeting a shallow open pit, 1% - 3% Cu grade, Quarry Mining Operation with Jigs - Ore Sorting, exporting to smelter customers (Simple Streamlined Processing)
• Believe they will become the next ASX copper miner,
• Copper smelters happy with only 25% copper final product grade although they can make 50% Cu grade if required.
• Storm is going to be a bigger miner than management originally envisaged!!!!

Statistically, the median sedimentary copper deposit is 10.6 million metric tonnes, grading 1.71% Cu, 31 g/t Ag, & 0.16% Co.



Therefore, to be better than your average global sedimentary copper deposit, Storm needs to contain more than 10 million tonnes of copper. The overall exploration margins of the 4100N, 2200N & 2750N zones are still considered to be open hence plenty of upside coming. It is encouraging the company has placed a stake in the ground so early, after such a small drilling program and to be confident a Mineral Resource Estimate (MRE) for the shallow aspects the Storm deposit will please the market and rank it as a new and upcoming Tier 1 copper project. Similarities to Mt Isa (Cu/Zn) or Congo style (Cu) deposits indicate the resource will scale up with more drilling.

For the initial guestimate of the maiden MRE for Storm, I am anticipating it will be 8.5 million tonnes at 2.0% Cu, ~ $2 billion metal value (relating to shallow zones only and limited overall drilling). Hence more upside to come in 2024 with further drilling and inclusion of Thunder, Lightning Ridge, Tempest, Tornado, Blizzard, Typhoon and Storm deeps in future MRE's!!!!

Share Price Upside - Once AW1 breaches $100 million market capitalisation with the release of the initial MRE then the larger institutions will be pumping money into the project, It's all about timing.

Reference: (2 months ago)
Dave O'Neill - American West Metals (ASX: AW1) | Presentation at Market Insights Adelaide

Sediment-Hosted Copper Deposits of the World: Deposit Models and Database