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American West Metals Limited (ASX:AW1)

ALERT: Price-sensitive ASX Announcement for AW1
Current share price for AW1 : $0.030 -0.007 (-19.18%)+
Announcement
Release
15 Sep 2026 8:56AM
Price at Release
$0.037
Full Release
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Summary
American West Metals Limited (ASX: AW1) announced strong visual drilling results from its 100%-owned West Desert Project in Utah, highlighting expanding copper, zinc and molybdenum mineralisation along a 4km magnetic trend around a large quartz-monzonite porphyry system. The standout hole, WD26-07, drilled about 350m west of the existing West Desert Deposit, intersected very thick intervals including a combined 140m of CRD-style exo-skarn with visible chalcopyrite, bornite, chalcocite and sphalerite across five main zones, plus a combined 219m of strong visual molybdenite with lesser copper sulphides in endo-skarn and altered porphyry, supporting the interpretation of a large multi-phase mineral system comparable in style to major regional deposits; the hole is near historical hole WD22-19, which previously returned up to 20% zinc, 1.4% copper and 470g/t indium. Additional holes expanded the system’s footprint, with WD26-06 on a previously untested northern contact intersecting 11m total visual malachite within altered porphyry and quartzite breccia plus broad magnetite skarn zones, and WD26-05 to the east confirming prospective contact positions with minor sphalerite veinlets and molybdenite veining. The company said assays are pending and expedited for release in 4-6 weeks, follow-up drilling is underway with hole WD26-08, and the results build on the existing JORC resource at West Desert of 33.67Mt at 3.83% Zn, 0.15% Cu and 9.08g/t Ag, plus an inferred indium and gold resource of 23.76Moz In and 118,761oz Au, reinforcing West Desert’s potential as a significant US critical minerals project.
Key Points
  • ASX release dated 15 September 2026 from American West Metals Limited about the West Desert Project in Utah.
  • WD26-07, drilled about 350m west of the West Desert Deposit, intersected very thick visual copper, zinc and molybdenum mineralisation.
  • WD26-07 contained a combined 140m of CRD-style exo-skarn mineralisation across five main zones with visible chalcopyrite, bornite, chalcocite and sphalerite.
  • WD26-07 also contained a combined 219m of strong visual molybdenite with lesser bornite and chalcopyrite in endo-skarn and altered monzonite porphyry.
  • The presence of chalcocite with magnetite in WD26-07 suggests multiple mineralising events, considered encouraging for a large ore system.
  • WD26-07 is near historical hole WD22-19, which previously intersected up to 20% zinc, 1.4% copper and 470g/t indium.
  • WD26-06, drilled about 1km north along a previously untested contact, intersected 11m total visual malachite hosted in altered porphyry and quartzite breccia.
  • WD26-06 also encountered thick weak to moderate magnetite exo-skarn and endo-skarn along the porphyry-sediment contact.
  • WD26-05, drilled east of WD26-01, intersected minor sphalerite veinlets and a molybdenite vein, helping define the prospective contact and extend molybdenum mineralisation.
  • American West said zinc and copper sulphides at West Desert are commonly associated with indium, silver, gold and other critical metals, subject to assay confirmation.
  • The mineralised system is being traced along an approximately 4km magnetic trend and is interpreted as a large magmatic-hydrothermal skarn and carbonate replacement system related to a quartz monzonite intrusive complex.
  • Assays for the reported visual mineralisation were expected within 4 to 6 weeks and follow-up drilling was continuing with hole WD26-08.
  • The announcement reiterates that visual estimates are not a substitute for laboratory assays and cannot be used as a proxy for grade.
  • The release also references the existing JORC-compliant West Desert resource of 33.67Mt at 3.83% zinc, 0.15% copper and 9.08g/t silver.
  • It also cites an inferred indium and gold resource at West Desert of 23.76 million ounces of indium and 118,761 ounces of gold.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.