American West Metals has announced a substantial resource upgrade at its flagship Storm copper project located in Nunavut, Canada. This enhancement boosts the project's contained copper metal by more than twenty percent while also increasing the overall confidence in the resource estimate.
Enhanced Resource Figures and Confidence
The updated mineral inventory now stands at 28.2 million tonnes of mineralisation, grading at one percent copper and 3.3 grams per tonne of silver. This translates to an impressive 276,000 tonnes of copper and 3.0 million ounces of silver, representing a thirty-six percent increase in silver ounces compared to previous estimates.
Perhaps more crucially, over sixty-five percent of the resource has now been elevated to the higher confidence indicated category. This provides a robust foundation for upcoming development studies, including a pre-feasibility study scheduled for completion this quarter.
Driving Factors Behind the Upgrade
The resource improvement stems from an extensive drilling campaign conducted throughout 2025 across the sprawling project area. This program yielded fresh discoveries and refined geotechnical data, opening new geological domains for exploration efforts planned for the current year.
American West Metals also strategically lowered the resource's cut-off grade, a decision made against the backdrop of record-high copper prices. As part of this comprehensive upgrade, the company has for the first time incorporated a resource from its high-grade Gap deposit. Recent intercepts from this deposit, including 12.6 metres at 5.6 percent copper and 21 grams per tonne silver from 70 metres depth, have yet to be fully included in the resource calculation.
Project Scope and Future Potential
The new mineral estimate now encompasses seven distinct deposits within the Storm project: Cyclone, Chinook, Corona, Cirrus, Thunder, Lightning Ridge, and the Gap. The Cyclone deposit features flat-lying, laterally extensive mineralisation, while other deposits demonstrate structural controls. All deposits remain open at depth and are rich with high-grade copper sulphides.
American West Metals believes the project retains substantial growth potential, with multiple untapped high-grade discoveries and large regional targets still emerging as future drilling prospects. The Storm Copper Project spans a massive 2,200 square kilometres, yet systematic exploration has covered less than five percent of the 110-kilometre prospective copper strike. Eight additional high-grade prospects, previously identified by major mining companies Antofagasta and BHP for their scale, remain undrilled.
Market Conditions and Economic Outlook
With copper prices recently reaching record territory above US$6 per pound, market conditions appear favourable for the Storm project. This pricing tailwind enhances the appeal of a near-term, low-capital expenditure development, providing American West with a rare opportunity to advance the project while both market sentiment and pricing remain supportive.
Building upon a scoping study completed twelve months ago, the project was previously estimated to carry a minimum net present value of US$149 million for an initial capital outlay of US$47.4 million, with a forty-six percent internal rate of return. Given that copper prices have since risen by more than fifty percent, the updated economic projections are anticipated to be significantly more favourable.
Parallel Developments in Critical Minerals
Beyond the Canadian copper project, American West Metals is also progressing its West Desert critical minerals project in Utah. This asset is moving toward a pivotal drilling campaign later this year. West Desert hosts the largest known indium resource in the United States, containing approximately 23.8 million ounces of indium and 119,000 ounces of gold, recently added to an existing resource base that includes 1.3 million tonnes of zinc, 49,000 tonnes of copper, and 10 million ounces of silver.
The company has identified multiple new targets for indium expansion and Apex-style gallium mineralisation in oxidised zones along hosting faults. Weathering in these areas could enrich near-surface grades, creating an environment analogous to the historic Apex mine. With domestic critical mineral supply currently a priority for Washington policymakers, American West's potential to produce indium locally has likely garnered significant attention.
As global copper demand continues to climb and supply constraints show no immediate signs of easing, the Storm project appears positioned to emerge as a significant district-scale copper opportunity, ready to contribute to meeting future metal supply needs.
