AW1 hits visual copper inside the USA’s biggest indium JORC resource
Our US critical minerals Investment American West Metals (ASX: AW1 | OTCQB: AWMLF) just hit thick intervals of visual copper, zinc and molybdenum at its critical metals project in Utah.
AW1's project is already the biggest undeveloped, fully permitted indium resource in the USA.
Indium is used to produce AI chips in next gen data centres, night vision systems, missile guidance radars and F-35 fighter jets.
Now, AW1 also has indications of copper mineralisation throughout the deposit.
Today's hole was drilled ~350m to the WEST of the existing deposit and returned:
- A combined 140m of visual copper and zinc sulphides across five main zones
- A combined 219m of strong visual molybdenite (a molybdenum sulphide) with lesser copper inside the porphyry
(A reminder that visuals are an indication only - lab assays are needed to confirm what's actually in the rock.)
AW1 expects to have assay results back inside the next 4-6 weeks - meanwhile here is a look at the core form hole #7:
(source)
The direction is what is most interesting and of note from today's news.
All of the earlier holes in this program stepped out to the EAST of the deposit, extending mineralisation across ~1.6km - which we covered in our last AW1 Quick Take.
Today's hole went the opposite way, meaning the mineral system is showing signs of extending now in BOTH directions along the >4km magnetic anomaly.
(source)
There is an old hole that was drilled out west which had some high grades within it, so fingers crossed this hole can replicate those sorts of numbers.
That historic hole hit skarn with grades of up to 20% zinc, 1.4% copper and 470g/t indium - although there's no guarantee today's zones carry similar grades until the assays land:
(source)
Today's announcement also included the first visual copper along a completely untested contact ~1km NORTH of the deposit, plus another hole from out east.
Indium was the main reason we Invested in AW1, as it’s a critical metal the US is 100% import reliant on, with China controlling ~70% of global supply and AW1 has the largest resource in the US.
China produces 70% of the world's indium, 98% of the world's gallium, and 60% of the world's germanium and AW1 has shown gallium and germanium so we wait for the assays:
AW1 has a resampling program underway for gallium and germanium.
Only ~35% of the project has been assayed for indium across historic drilling AND the project’s never been assayed for any other critical metals like gallium or germanium.
Drilling is continuing 24/7 with the eighth hole of the program already underway.
What’s next for AW1?
US indium project (West Desert, Utah)
Here we want to see AW1 run its upsized drill program, grow its resource and hopefully define a gallium & germanium resource to go with it.
Here are the milestones we are tracking:
- ✅Drilling commenced
- ✅First hole hit 108.4m at 25.2g/t indium (plus gold, silver & zinc) 430m east of resource, along the 4km magnetic anomaly
- 🔄 Historical core resampling for gallium & germanium.
- 🔄 Assays from drilling
- 🔲 Resampling assay results
Strategic / Government Engagement
- 🔄 Defence Production Act Title III funding
- 🔲 Formal US government funding deal / offtake / stockpile inclusion
- 🔲 Potential US listing
Canadian copper project
AW1 also has an advanced stage copper project - check out our deep dive into the asset here.
The next major catalyst for this project will be the PFS that is currently underway - here are the two milestones we are tracking for that project next:
- 🔄 Pre-Feasibility Study
- 🔲 Environmental studies and permitting milestones
