American West Metals says PFS on Canada's newest copper project imminent
After spending additional time to refine a processing flowsheet, mine plan and other aspects, ASX-listed American West Metals says it is making progress on a prefeasibility study (PFS) for the Storm copper project in Nunavut, Canada.
The company is working to derisk what will be Canada's newest copper and silver project, ensuring it can deliver compelling long-term returns.
The PFS is expected to be finalised during the third quarter of the year.
The final process design confirms the unique advantages of the Storm project, demonstrating so far that its copper/silver mineralisation can be efficiently upgraded using simple, low-impact beneficiation technologies.
"The incorporation of innovative recovery solutions for the fine fraction of the ore stream has the potential to further enhance project economics while maintaining our commitment to responsible development," says American West Metals MD Dave O'Neill.
Beyond the PFS workstreams, the company is advancing permitting activities, including environmental baseline studies, and exploration to unlock the broader potential of what the company sees as an emerging world-class sediment-hosted copper district.
Having secured a strategic partnership with Ocean Partners Holdings, in which it will provide up to 80% of initial capital for the development of Storm through a senior secured loan facility, American West Metals remains well placed to fund the development of the project in future. Ocean Partners also committed to purchase 100% of the copper and silver products produced from the project.
