U.S. Battery Metals Analysis Results Trigger US West Stock Rush
ASX-listed American West Metals shares jumped more than 70% in intraday trading at the highest volume this year on the company’s improved analytical results at its West Desert project in Utah, US -United.
The results come from the fourth diamond drill hole at the site which aimed to test the continuity of strong zinc and copper mineralization to the east of the main deposit area.
During the trading day, shares of American West rose as low as 0.265 cents at a volume of over 18 million on June 8 after closing at 0.155c the previous day.
Assay analysis of the 549.83 m hole showed over 105 m of high grade zinc and copper intersected in four main intervals, in addition to high grade indium and silver.
The intervals included 10.82 m at 1.41% copper, 1.51% zinc, 0.23 grams per tonne gold, 59.41 g/t silver and 40.63 g/t silver. indium from 224.63 m including 6.09 m at 2.04% copper, 1.09% zinc. 0.33 g/t gold, 12 g/t silver and 47.98 g/t indium from 224.63 m.
The next interval showed 47.4 m grading 4.3% zinc, 0.08% copper, 12 g/t silver and 34.75 g/t indium from 234.07 m including 10 .36 m at 6.56% zinc, 0.05% copper, 10.35 g/t silver. and 36.06 g/t indium from 263.03 m.
The third intercept intersected 26.52 m at 8.46% zinc, 0.17% copper, 10.61 g/t silver and 55.63 g/t indium from 313.47 m including 16.47 m at 10.22% zinc, 0.26% copper, 16.24 g/t silver. and 48.63 g/t of indium from 315.91 m.
The deepest span reached 18.59 m at 13.24% zinc, 140.96 g/t indium from 367.88 m including 9.75 m at 21.7 per zinc and 192.75 g/t of indium from 369.4 m.
The company says the diamond drill program continues to define high-grade mineralization in the eastern part of the West Desert deposit.
The assay results and the location of the drill holes are strategically favorable and provide additional support for possible future underground development. We look forward to reporting further strong pending assay results for the remaining drill holes completed in the coming weeks.
The latest exploration has identified higher metal volumes and grades in several lenses, enhancing mineralization in the Western Desert resource envelope.
Assays from the remaining five drill holes of the current program are pending and expected over the next few weeks.
These results will be used to estimate an initial JORC-compliant resource for the West Desert deposit which is wholly owned by American West and contains a historical resource base of over 59 million tonnes, with a high-grade core of 16.5 million tonnes. tonnes at 6.3 percent zinc, 0.3 percent copper and 33 g/t indium.
The company says it will evaluate several different development options for West Desert, including a proposal focused on extracting high-grade core through open pit mining that will transition to deep underground mining.
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