The Storm Copper Project is located on Somerset Island, Nunavut, Canada, and spans over 2,200 square kilometres in the well-established Polaris mineral district. The Project benefits from proximity to Aston Bay, a deep-water port on the Northwest Passage, providing reliable seasonal shipping routes. With key infrastructure in place, including a 50-person camp, the site is well-prepared for ongoing operations.
Ownership and Partnership
American West Metals owns 80% of the Storm Copper Project, in partnership with Aston Bay Holdings (TSX: BAY), which holds the remaining 20%. This joint venture is focused on the long-term development of an emerging copper district.
Resource Potential
The maiden JORC-compliant Mineral Resource Estimate (MRE) for the Storm Project, delivered in early 2024, outlines 17.5Mt @ 1.2% Cu and 3.4g/t Ag, including 205,000 tonnes of copper and 1.9Moz of silver. This estimate provides a solid foundation for future resource expansion. Importantly, copper mineralisation is located near-surface, and remains open in all directions, indicating significant upside potential for both lateral and vertical growth.
Exploration and Growth Strategy
Our exploration activities are focused on expanding and upgrading copper resources within the known deposits, while simultaneously exploring new targets in areas such as Tornado, Blizzard, and Tempest. The copper system has shown extensive lateral continuity and is believed to host substantial high-grade copper deposits at depth.
In 2024, exploration efforts have been intensified with ongoing drilling, revealing new areas of mineralisation and confirming the vast scale of the Storm copper system. Recent copper discoveries during 2024, including the Gap and Squall Prospects, demonstrates the potential for additional near-surface copper resources, underscoring the growth prospects of this project.
Direct Shipping Ore (DSO) Potential
A key advantage of the Storm Project is the Direct Shipping Ore (DSO) potential.
Metallurgical test work has demonstrated a simple and low-cost process that can upgrade typical Storm mineralisation into high-grade DSO products with a copper content ranging from 16 – 22%. This environmentally friendly process will eliminate the need for a conventional flotation processing plant, chemicals, and associated tailings treatment facilities, minimising the project’s operational footprint. The ability to produce DSO with strong ESG credentials positions Storm as one of the very few high-grade, DSO copper opportunities globally.
Future Outlook
With its existing resources and ongoing exploration success, the Storm Copper Project is poised to become a significant player in the copper industry. American West Metals continues to focus on rapidly expanding the copper resource base, while seeking new discoveries that support a high-margin, low-cost open-pit mining scenario.
Our aim is to deliver strong returns for investors, driven by efficient, cost-effective production and a rapidly growing resource.
