American West Metals (ASX:AW1) said the indicated and inferred mineral resource estimate for its 80%-owned Storm copper project in Nunavut, Canada, saw a 20% increase in contained copper tonnes and 36% increase in silver ounces, according to a Wednesday Australian bourse filing.
The project's indicated and inferred mineral resource estimate stood at 28.2 million tonnes at 1% grade of copper and 3.3 g/t grams per tonne grade of silver, including 276,000 tonnes of copper and 3 million ounces of silver.
More than 65% of the contained metal in the mineral resource is classified in the indicated resource category. It defined seven high-grade, copper-silver deposits at the project, including the Cyclone deposit, Chinook deposit, Corona deposit, Cirrus deposit, Thunder deposit, Lightning Ridge deposit, and the Gap deposit.
The firm's shares rose 1% in recent trading on Tuesday.