American West Metals Ltd (Reserved Code ASX: AW1), an Australian company targeting major base metal mineral deposits in North American Tier-1 jurisdictions, is seeking to raise A$15M as part of its proposed listing on the ASX before the end of the year.
The company is focused on high-quality copper and zinc assets, and owns property in Canada and the U.S. At present, the company has earmarked projects at three locations for exploration: its flagship – West Desert – a zinc-copper-indium project in Utah, U.S.; Copper Warrior, a copper project also in Utah, and finally the Storm – copper and Seal – zinc-silver projects in Nunavut, Canada.
As well as its Tier-1 properties, American West is spearheaded by an experienced senior management team, including founder and non-executive chairman John Prineas, who is also the founder of St George Mining Ltd (ASX: SGQ); Dave O’Neill, American West’s managing director; and non-executive director Michael Anderson who also leads Firefinch Ltd (ASX: FFX).
Mr O’Neill says, “An attractive quality of the company is our commitment to low footprint operations and the ethical extraction of minerals. Whilst our three projects offer strong historical resources with potential for near-term low-cost and high-return development, our management team will conduct operations in a way which contributes to the sustainable development of mineral resources, with low impact to the environment, community, and regions in which we operate.”
Drilling planned
Mr O’Neill notes that once American West has successfully listed, the capital raised will initially be used to fund drilling and scoping study activities at its flagship, 100%-owned West Desert Deposit.
The West Desert Deposit is situated in Utah, U.S. (Image credit: American West Metals)
West Desert, which is a large zinc-polymetallic skarn and carbonate replacement deposit, is located within the Sevier Orogenic Belt, which includes the giant Bingham Copper Deposit. According to the company, West Desert has over 59Mt Indicated and Inferred Resources, with a higher-grade core of 16.5Mt @ 6.3 Zn, 0.3% Cu, 33g/t In for 1.03Mt Zn, 45Kt Cu and 545t indium.
American West has noted that indium, which is used in the electronics and semiconductor industries, has been identified as a critical metal by the U.S. government and is found in unusually high levels in sphalerite at the West Desert Deposit.
“Now is a very exciting time to be listing American West Metals. Our focus is on developing the resources necessary to supply the global energy transition, and our three, Tier-1-located projects are extremely well placed to enable us to do just that.
“With our experienced leadership team in place, pipeline of drill targets and Scoping Study planned for West Desert, and the fact that we are highly leveraged to the zinc and copper markets, I believe American West Metals is well positioned to attract significant interest from investors,” says Mr O’Neill.
To find out more about American West Metals, visit www.americanwestmetals.com
