AW1: Presentation - Precious Metals Summit
Original announcement by asx on
- Company
- American West Metals Limited
- Ticker
- AW1
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Copper
- Secondary commodities
- Zinc, Indium, Silver, Gold, Gallium
- Document categories
- Resource update, Drill results
- Extracted
- 2026-09-22 23:08:02 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
American West Metals Limited presented an overview of its Storm Copper and West Desert critical metals projects, highlighting significant JORC 2012 compliant resource estimates. The Storm Copper Project boasts a total resource of 28.2 Mt at 0.98% Cu and 3.27 g/t Ag, underpinning a planned low-cost open-pit operation with secured funding. The West Desert Project features the largest undeveloped indium resource in the US, totaling 33.7 Mt at 20.01 g/t In, 3.83% Zn, 0.15% Cu, 9.08 g/t Ag, and 0.10 g/t Au, with ongoing exploration continuing to deliver high-grade intercepts for multiple commodities.
Reasoning: The presentation highlights a robust and growing resource base for copper and critical metals across two projects, supported by JORC compliant estimates and ongoing high-grade exploration success. Strategic funding and a clear development pathway for Storm Copper are significant positives, while the historical nature of the Seal Zinc resource is a minor detractor.
Positive factors
- Significant copper and critical metals resource base across two key projects (Storm and West Desert)
- Storm Copper Project MRE shows substantial indicated and inferred resources, forming the basis for a low-cost open-pit operation
- West Desert Project hosts the largest undeveloped indium resource in the US, along with significant zinc, copper, silver, and gold
- Both projects have JORC 2012 compliant resource estimates signed by Competent Persons
- Ongoing exploration at both projects continues to yield high-grade drill intercepts, indicating strong growth potential
- Strategic alliance and funding secured for Storm Copper Project de-risks execution and provides capital for development
Negative factors
- Seal Zinc Project resource is historical and not JORC 2012 compliant, requiring further work for classification
- Some drill results presented are historical, reducing their novelty
Facts used in scoring: 52
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Storm Copper Project and West Desert Project resource estimates are explicitly stated to be in accordance with the JORC Code 2012.
Evidence · text
“The Mineral Resources underpinning the production target in the PEA have been prepared by a Competent Person in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code 2012).”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Competent Persons are named and have signed off on the Storm Copper Project and West Desert Project resource estimates.
Evidence · text
“The Mineral Resources underpinning the production target in the PEA have been prepared by a Competent Person in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code 2012). The Competent Persons Statements are found in the Geology and Resources section of this Study.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents updated resource estimates for the Storm Copper Project and West Desert Project.
Evidence · text
“For full details of the Mineral Resource Estimate for the Storm Copper Project, including JORC Table 1, please refer to ASX announcement dated 16 December 2024: Significant Growth for Storm MRE.”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The document refers to 'Significant Growth for Storm MRE' and 'Storm Copper MRE Continues to Grow', implying tonnage growth for the Storm project.
Evidence · text
“Significant Growth for Storm MRE”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: Drill hole SR23-089 at Storm Copper Project returned 22.9m @ 8.5% Cu, which is an exceptionally high-grade copper intercept.
Evidence · text
“22.9m @ 8.5% Cu”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: Drill hole WD22-01 at West Desert Project returned 2.1m @ 56.6g/t In, which is an exceptionally high-grade indium intercept.
Evidence · text
“2.1m @ 3.1% Cu, 1.4g/t Au, 5.6g/t Ag, 56.6g/t In”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: Drill hole WD22-19 at West Desert Project returned 4.58m @ 88.05g/t In, which is an exceptionally high-grade indium intercept.
Evidence · text
“4.58m @ 88.05g/t In”
Historical Estimate Onlynegative
Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
Why it applies: The Seal Zinc Project resource is explicitly stated as historical and reported under Canadian NI 43-101, not JORC 2012.
Evidence · text
“The estimates of minerals resources referred to in this presentation in regard to the Seal Zinc Project are historical and foreign in nature and are reported in accordance with Canadian NI 43-101 Standards and not in accordance with the 2012 JORC Code.”
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: For the Seal Zinc Project, it is stated that 'A competent person has not done sufficient work to classify these estimates as mineral resources or ore reserves in accordance with the 2012 JORC Code.'
Evidence · text
“A competent person has not done sufficient work to classify these estimates as mineral resources or ore reserves in accordance with the 2012 JORC Code.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the Storm Copper Project and West Desert Project resources are in the Inferred category, and the entire Seal Zinc Project resource is Inferred.
Evidence · text
“Inferred 12.3 0.78 2.85 96,300 1,124,500”
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: Drill hole WD26-01 at West Desert intersected significant mineralization 400m east of West Desert, indicating an extension of the known mineralization.
Evidence · text
“First drill hole of 2026 WD26-01 intersected 105m @ 25g/t In over 400m east of West Desert with <10% of project area explored”
Extracted facts
Stored fact records: 52. Some facts used in scoring do not have a stored record.
Drill Results (8)
SR24-108Storm · copperGrade: 2.4Grade Unit: %Intercept: 1.5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- SR24-108
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- canada_nu
- Ticker
- AW1
Geometry
- Grade
- 2.4
- Grade Unit
- %
- Intercept
- 1.5 m
Classification
- Sample Type
- drill
Location
- Location
- Squall
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2024-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept shows an exceptional copper grade, but its narrow width limits its overall materiality.
Positive factors
- Exceptional copper grade
Negative factors
- Narrow intercept length
Evidence · text
“1.5m @ 2.4% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
SR24-108Storm · silverGrade: 5Grade Unit: g/tIntercept: 1.5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- SR24-108
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- canada_nu
- Ticker
- AW1
Geometry
- Grade
- 5
- Grade Unit
- g/t
- Intercept
- 1.5 m
Classification
- Sample Type
- drill
Location
- Location
- Squall
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2024-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept includes silver credits, but its narrow width limits its overall materiality.
Positive factors
- Adds byproduct silver credits
Negative factors
- Narrow intercept length
Evidence · text
“5.0g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
WD22-19West Desert · copperGrade: 0.46Grade Unit: %Intercept: 4.58 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- WD22-19
- Project
- West Desert
- Commodity
- copper
- Region
- usa_ut
- Reported Region
- usa_ut
- Ticker
- AW1
Geometry
- Grade
- 0.46
- Grade Unit
- %
- Intercept
- 4.58 m
Classification
- Sample Type
- drill
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept includes copper credits, contributing to the polymetallic nature of the West Desert Project.
Positive factors
- Adds byproduct copper credits
Negative factors
- Narrow intercept length
Evidence · text
“0.46% Cu”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
WD26-01West Desert · goldGrade: 0.34Grade Unit: g/tIntercept: 108.4 mView all detailsHide details
Identity
- Hole ID
- WD26-01
- Project
- West Desert
- Commodity
- gold
- Region
- usa_ut
- Reported Region
- usa_ut
- Ticker
- AW1
Geometry
- Grade
- 0.34
- Grade Unit
- g/t
- Intercept
- 108.4 m
Classification
- Sample Type
- drill
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept includes gold credits over a significant width, adding to the polymetallic nature of the new discovery at West Desert.
Positive factors
- Adds byproduct gold credits
- Significant intercept length
- New discovery outside of existing resource
Evidence · text
“0.34g/t Au”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
WD22-19West Desert · silverGrade: 18.68Grade Unit: g/tIntercept: 4.58 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- WD22-19
- Project
- West Desert
- Commodity
- silver
- Region
- usa_ut
- Reported Region
- usa_ut
- Ticker
- AW1
Geometry
- Grade
- 18.68
- Grade Unit
- g/t
- Intercept
- 4.58 m
Classification
- Sample Type
- drill
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept includes a strong silver grade, enhancing the byproduct potential at West Desert.
Positive factors
- Strong silver grade as a byproduct
Negative factors
- Narrow intercept length
Evidence · text
“18.68g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
WD22-19West Desert · indiumGrade: 88.05Grade Unit: g/tIntercept: 4.58 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- WD22-19
- Project
- West Desert
- Commodity
- indium
- Region
- usa_ut
- Reported Region
- usa_ut
- Ticker
- AW1
Geometry
- Grade
- 88.05
- Grade Unit
- g/t
- Intercept
- 4.58 m
Classification
- Sample Type
- drill
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept shows an exceptional indium grade, further solidifying West Desert's importance as a critical metals project.
Positive factors
- Exceptional indium grade, a critical metal
Negative factors
- Narrow intercept length
Evidence · text
“4.58m @ 88.05g/t In”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
WD22-01cWest Desert · galliumGrade: 67.7Grade Unit: g/tIntercept: 3.5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- WD22-01c
- Project
- West Desert
- Commodity
- gallium
- Region
- usa_ut
- Reported Region
- usa_ut
- Ticker
- AW1
Geometry
- Grade
- 67.7
- Grade Unit
- g/t
- Intercept
- 3.5 m
- From
- 421.2 m
- To
- 424.7 m
- Hole Depth
- 418 m
- Intercept Depth
- 421.2 m
Classification
- Sample Type
- drill
- Group ID
- WD22-01c:421.2-424.7
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept shows a strong gallium grade, further diversifying the critical metals potential at West Desert.
Positive factors
- Strong gallium grade, a critical metal
Negative factors
- Narrow intercept length
Evidence · text
“67.7g/t Ga”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
WD22-19West Desert · zincGrade: 5.21Grade Unit: %Intercept: 4.58 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- WD22-19
- Project
- West Desert
- Commodity
- zinc
- Region
- usa_ut
- Reported Region
- usa_ut
- Ticker
- AW1
Geometry
- Grade
- 5.21
- Grade Unit
- %
- Intercept
- 4.58 m
Classification
- Sample Type
- drill
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This drill intercept shows an exceptional zinc grade, indicating high-grade mineralization potential at West Desert.
Positive factors
- Exceptional zinc grade
Negative factors
- Narrow intercept length
Evidence · text
“5.21% Zn”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (44)
indicatedStorm · copperTonnes: 12400000Grade: 136500Grade Unit: tonnesContained Metal: 136500Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:509cf723e46924d64e77
- Deposit or zone
- Cyclone
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 12400000
- Grade
- 136500
- Grade Unit
- tonnes
- Contained Metal
- 136500
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This indicated resource for copper at Cyclone is a substantial and high-confidence component of the overall Storm Copper Project, contributing significantly to its economic potential.
Positive factors
- Significant indicated tonnage and grade for copper
- JORC 2012 compliant and QP signed
- Forms a key part of the Storm Copper Project's resource base
Evidence · table
“136,500”
Context: 12.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · silverTonnes: 12400000Grade: 1527000Grade Unit: ouncesContained Metal: 1527000Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:509cf723e46924d64e77
- Deposit or zone
- Cyclone
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 12400000
- Grade
- 1527000
- Grade Unit
- ounces
- Contained Metal
- 1527000
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This indicated silver resource at Cyclone provides valuable byproduct credits to the Storm Copper Project, enhancing overall project economics.
Positive factors
- Significant contained silver as a byproduct
- JORC 2012 compliant and QP signed
Evidence · table
“1,527,000”
Context: 12.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 4500000Grade: 43300Grade Unit: tonnesContained Metal: 43300Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:b7fc6462369129207d51
- Deposit or zone
- Cyclone
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4500000
- Grade
- 43300
- Grade Unit
- tonnes
- Contained Metal
- 43300
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at Cyclone contributes to the project's overall scale, but its lower confidence category means further drilling is required for de-risking.
Positive factors
- Adds to the overall copper resource base
- Potential for future upgrade to higher confidence categories
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“43,300”
Context: 4.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 4500000Grade: 575000Grade Unit: ouncesContained Metal: 575000Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:b7fc6462369129207d51
- Deposit or zone
- Cyclone
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4500000
- Grade
- 575000
- Grade Unit
- ounces
- Contained Metal
- 575000
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at Cyclone provides additional byproduct potential, but its lower confidence category requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“575,000”
Context: 4.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · copperTonnes: 1000000Grade: 16900Grade Unit: tonnesContained Metal: 16900Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:fd757d294c1cb0062044
- Deposit or zone
- Chinook
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1000000
- Grade
- 16900
- Grade Unit
- tonnes
- Contained Metal
- 16900
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The indicated copper resource at Chinook, with its high grade, is a valuable component of the Storm Copper Project's overall resource base.
Positive factors
- High copper grade for an indicated resource
- JORC 2012 compliant and QP signed
Evidence · table
“16,900”
Context: 1.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · silverTonnes: 1000000Grade: 127800Grade Unit: ouncesContained Metal: 127800Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:fd757d294c1cb0062044
- Deposit or zone
- Chinook
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1000000
- Grade
- 127800
- Grade Unit
- ounces
- Contained Metal
- 127800
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The indicated silver resource at Chinook adds to the byproduct potential of the Storm Copper Project.
Positive factors
- Provides byproduct silver credits
Evidence · table
“127,800”
Context: 1.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 700000Grade: 8800Grade Unit: tonnesContained Metal: 4000Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:f943ae2ceb27d36e6dcc
- Deposit or zone
- Chinook
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 700000
- Grade
- 8800
- Grade Unit
- tonnes
- Contained Metal
- 4000
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at Chinook contributes to the project's total, but its lower confidence category indicates a need for further definition.
Positive factors
- Adds to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“8,800”
Context: 0.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 700000Grade: 112600Grade Unit: ouncesContained Metal: 59600Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:f943ae2ceb27d36e6dcc
- Deposit or zone
- Chinook
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 700000
- Grade
- 112600
- Grade Unit
- ounces
- Contained Metal
- 59600
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at Chinook offers additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“112,600”
Context: 0.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · copperTonnes: 1200000Grade: 11200Grade Unit: tonnesContained Metal: 11200Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:9f68e3eaca4cacb2740c
- Deposit or zone
- Corona
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1200000
- Grade
- 11200
- Grade Unit
- tonnes
- Contained Metal
- 11200
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The indicated copper resource at Corona is a solid contribution to the Storm Copper Project's overall resource, providing confidence for development.
Positive factors
- Contributes to the indicated copper resource base
- JORC 2012 compliant and QP signed
Evidence · table
“11,200”
Context: 1.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · silverTonnes: 1200000Grade: 112100Grade Unit: ouncesContained Metal: 112100Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:9f68e3eaca4cacb2740c
- Deposit or zone
- Corona
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1200000
- Grade
- 112100
- Grade Unit
- ounces
- Contained Metal
- 112100
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The indicated silver resource at Corona provides additional byproduct credits for the Storm Copper Project.
Positive factors
- Adds to byproduct silver potential
Evidence · table
“112,100”
Context: 1.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 1400000Grade: 8900Grade Unit: tonnesContained Metal: 8900Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:9848d8523522bb3a1f41
- Deposit or zone
- Corona
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 8900
- Grade Unit
- tonnes
- Contained Metal
- 8900
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at Corona adds to the project's total, but its lower confidence category indicates a need for further definition.
Positive factors
- Contributes to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“8,900”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 1400000Grade: 87500Grade Unit: ouncesContained Metal: 87500Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:9848d8523522bb3a1f41
- Deposit or zone
- Corona
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 87500
- Grade Unit
- ounces
- Contained Metal
- 87500
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at Corona provides additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“87,500”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · copperTonnes: 1300000Grade: 15300Grade Unit: tonnesContained Metal: 15300Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:0d67c75d246af61adb2c
- Deposit or zone
- Thunder
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 15300
- Grade Unit
- tonnes
- Contained Metal
- 15300
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The indicated copper resource at Thunder is a valuable contribution to the Storm Copper Project, providing confidence for future development.
Positive factors
- Good copper grade for an indicated resource
- JORC 2012 compliant and QP signed
Evidence · table
“15,300”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · silverTonnes: 1300000Grade: 73600Grade Unit: ouncesContained Metal: 73600Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:0d67c75d246af61adb2c
- Deposit or zone
- Thunder
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 73600
- Grade Unit
- ounces
- Contained Metal
- 73600
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The indicated silver resource at Thunder adds to the byproduct potential of the Storm Copper Project.
Positive factors
- Provides byproduct silver credits
Evidence · table
“73,600”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 1500000Grade: 8600Grade Unit: tonnesContained Metal: 8600Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:ec386861fc1d732d224a
- Deposit or zone
- Thunder
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 8600
- Grade Unit
- tonnes
- Contained Metal
- 8600
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at Thunder adds to the project's total, but its lower confidence category indicates a need for further definition.
Positive factors
- Contributes to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“8,600”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 1500000Grade: 60000Grade Unit: ouncesContained Metal: 60000Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:ec386861fc1d732d224a
- Deposit or zone
- Thunder
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 60000
- Grade Unit
- ounces
- Contained Metal
- 60000
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at Thunder provides additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“60,000”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 2700000Grade: 16700Grade Unit: tonnesContained Metal: 16700Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:d4a008257acb7175bdad
- Deposit or zone
- Cirrus
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2700000
- Grade
- 16700
- Grade Unit
- tonnes
- Contained Metal
- 16700
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at Cirrus adds to the project's total, but its lower confidence category indicates a need for further definition.
Positive factors
- Contributes to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“16,700”
Context: 2.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 2700000Grade: 122300Grade Unit: ouncesContained Metal: 122300Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:d4a008257acb7175bdad
- Deposit or zone
- Cirrus
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2700000
- Grade
- 122300
- Grade Unit
- ounces
- Contained Metal
- 122300
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at Cirrus provides additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“122,300”
Context: 2.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 800000Grade: 5900Grade Unit: tonnesContained Metal: 5900Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:151d7bc3a53512119d78
- Deposit or zone
- LR
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 800000
- Grade
- 5900
- Grade Unit
- tonnes
- Contained Metal
- 5900
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at LR adds to the project's total, but its lower confidence category indicates a need for further definition.
Positive factors
- Contributes to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“5,900”
Context: 0.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 800000Grade: 107400Grade Unit: ouncesContained Metal: 107400Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:151d7bc3a53512119d78
- Deposit or zone
- LR
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 800000
- Grade
- 107400
- Grade Unit
- ounces
- Contained Metal
- 107400
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at LR provides additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“107,400”
Context: 0.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm Copper Project · copperTonnes: 700000Grade: 1.26Grade Unit: %Contained Metal: 8800Contained Unit: tView all detailsHide details
Identity
- Project
- Storm Copper Project
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:73c6f07ccbcac32cfa6c
- Deposit or zone
- Gap
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 700000
- Grade
- 1.26
- Grade Unit
- %
- Contained Metal
- 8800
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource at Gap, with its good grade, adds to the project's total, but its lower confidence category indicates a need for further definition.
Positive factors
- Good copper grade for an inferred resource
- Contributes to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“1.26”
Context: 0.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm Copper Project · silverTonnes: 700000Grade: 4.99Grade Unit: g/tContained Metal: 112600Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm Copper Project
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:73c6f07ccbcac32cfa6c
- Deposit or zone
- Gap
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 700000
- Grade
- 4.99
- Grade Unit
- g/t
- Contained Metal
- 112600
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource at Gap provides additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds to byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“4.99”
Context: 0.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · copperTonnes: 15900000Grade: 179900Grade Unit: tonnesContained Metal: 179900Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:30fd67938617eaaf384b
- Deposit or zone
- IND Total
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15900000
- Grade
- 179900
- Grade Unit
- tonnes
- Contained Metal
- 179900
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total indicated copper resource for Storm is a strong foundation for the project, demonstrating high confidence in a substantial portion of the resource.
Positive factors
- Significant indicated copper resource, providing high confidence for development
- JORC 2012 compliant and QP signed
Evidence · table
“179,900”
Context: 15.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm · silverTonnes: 15900000Grade: 1840500Grade Unit: ouncesContained Metal: 1840500Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:30fd67938617eaaf384b
- Deposit or zone
- IND Total
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15900000
- Grade
- 1840500
- Grade Unit
- ounces
- Contained Metal
- 1840500
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total indicated silver resource for Storm significantly enhances the project's economic viability through byproduct credits.
Positive factors
- Substantial indicated silver resource, providing valuable byproduct credits
Evidence · table
“1,840,500”
Context: 15.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · copperTonnes: 12300000Grade: 96300Grade Unit: tonnesContained Metal: 96300Contained Unit: tView all detailsHide details
Identity
- Project
- Storm
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:06017c75aa99036af326
- Deposit or zone
- INF Total
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 12300000
- Grade
- 96300
- Grade Unit
- tonnes
- Contained Metal
- 96300
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total inferred copper resource for Storm provides substantial upside potential, but its lower confidence category means further drilling is required for de-risking.
Positive factors
- Adds significant tonnage to the overall copper resource base
- Potential for future upgrade to higher confidence categories
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“96,300”
Context: 12.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredStorm · silverTonnes: 12300000Grade: 1124500Grade Unit: ouncesContained Metal: 1124500Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:06017c75aa99036af326
- Deposit or zone
- INF Total
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 12300000
- Grade
- 1124500
- Grade Unit
- ounces
- Contained Metal
- 1124500
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total inferred silver resource for Storm provides additional byproduct potential, but its lower confidence requires further work.
Positive factors
- Adds significant byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“1,124,500”
Context: 12.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm Copper Project · copperTonnes: 28200000Grade: 0.98Grade Unit: %Contained Metal: 276100Contained Unit: tView all detailsHide details
Identity
- Project
- Storm Copper Project
- Commodity
- copper
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:82b04180bd00cae0cb37
- Deposit or zone
- Total
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 28200000
- Grade
- 0.98
- Grade Unit
- %
- Contained Metal
- 276100
- Contained Unit
- t
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total copper resource for Storm is a highly material asset, providing a robust foundation for the project's development plans.
Positive factors
- Large total copper resource, forming a strong basis for development
- JORC 2012 compliant and QP signed
Evidence · table
“0.98”
Context: 28.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedStorm Copper Project · silverTonnes: 28200000Grade: 3.27Grade Unit: g/tContained Metal: 2965100Contained Unit: ozView all detailsHide details
Identity
- Project
- Storm Copper Project
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls
- Resource group id
- resource:82b04180bd00cae0cb37
- Deposit or zone
- Total
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 28200000
- Grade
- 3.27
- Grade Unit
- g/t
- Contained Metal
- 2965100
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- % Cu
Prior Estimate
- Resource Date
- 2024-12-16
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total silver resource for Storm significantly enhances the project's economic viability through substantial byproduct credits.
Positive factors
- Significant total silver resource, providing valuable byproduct credits
Evidence · table
“3.27”
Context: 28.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedWest Desert Project · zincTonnes: 27400000Grade: 1037278Grade Unit: tonnesContained Metal: 1037278Contained Unit: tView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- zinc
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:76bf4ff4f632b4365f65
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 27400000
- Grade
- 1037278
- Grade Unit
- tonnes
- Contained Metal
- 1037278
- Contained Unit
- t
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This indicated zinc resource is a substantial and high-confidence component of the West Desert Project, contributing significantly to its critical metals profile.
Positive factors
- Significant indicated zinc resource, providing high confidence for development
- JORC 2012 compliant and QP signed
Evidence · table
“1,037,278”
Context: 27.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
indicatedWest Desert Project · copperTonnes: 27400000Grade: 40588Grade Unit: tonnesContained Metal: 40588Contained Unit: tView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- copper
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:76bf4ff4f632b4365f65
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 27400000
- Grade
- 40588
- Grade Unit
- tonnes
- Contained Metal
- 40588
- Contained Unit
- t
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This indicated copper resource adds to the polymetallic nature of the West Desert Project, providing additional value.
Positive factors
- Contributes to the overall copper resource base
- JORC 2012 compliant and QP signed
Evidence · table
“40,588”
Context: 27.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
indicatedWest Desert Project · silverTonnes: 27400000Grade: 8376494Grade Unit: ouncesContained Metal: 8376494Contained Unit: ozView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- silver
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:76bf4ff4f632b4365f65
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 27400000
- Grade
- 8376494
- Grade Unit
- ounces
- Contained Metal
- 8376494
- Contained Unit
- oz
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This indicated silver resource significantly enhances the economic viability of the West Desert Project through substantial byproduct credits.
Positive factors
- Significant indicated silver resource, providing valuable byproduct credits
Evidence · table
“8,376,494”
Context: 27.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · zincTonnes: 6300000Grade: 253626Grade Unit: tonnesContained Metal: 253626Contained Unit: tView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- zinc
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:af41698eabb090644dbb
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 6300000
- Grade
- 253626
- Grade Unit
- tonnes
- Contained Metal
- 253626
- Contained Unit
- t
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred zinc resource for West Desert provides substantial upside potential, but its lower confidence category means further drilling is required for de-risking.
Positive factors
- Adds significant tonnage to the overall zinc resource base
- Potential for future upgrade to higher confidence categories
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“253,626”
Context: 6.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · copperTonnes: 6300000Grade: 8465Grade Unit: tonnesContained Metal: 8465Contained Unit: tView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- copper
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:af41698eabb090644dbb
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 6300000
- Grade
- 8465
- Grade Unit
- tonnes
- Contained Metal
- 8465
- Contained Unit
- t
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred copper resource adds to the polymetallic nature of the West Desert Project, but its lower confidence requires further work.
Positive factors
- Adds to the overall copper resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“8,465”
Context: 6.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · silverTonnes: 6300000Grade: 1440285Grade Unit: ouncesContained Metal: 1440285Contained Unit: ozView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- silver
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:af41698eabb090644dbb
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 6300000
- Grade
- 1440285
- Grade Unit
- ounces
- Contained Metal
- 1440285
- Contained Unit
- oz
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The inferred silver resource provides additional byproduct potential for West Desert, but its lower confidence requires further work.
Positive factors
- Adds significant byproduct silver potential
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“1,440,285”
Context: 6.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
indicatedWest Desert Project · zincTonnes: 33700000Grade: 3.83Grade Unit: %Contained Metal: 1290904Contained Unit: tView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- zinc
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:6ff704395e13296ad393
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 33700000
- Grade
- 3.83
- Grade Unit
- %
- Contained Metal
- 1290904
- Contained Unit
- t
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total zinc resource for West Desert is a highly material asset, providing a robust foundation for the project's critical metals development plans.
Positive factors
- Large total zinc resource, forming a strong basis for development
- JORC 2012 compliant and QP signed
Evidence · table
“3.83”
Context: 33.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
indicatedWest Desert Project · copperTonnes: 33700000Grade: 0.15Grade Unit: %Contained Metal: 49053Contained Unit: tView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- copper
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:6ff704395e13296ad393
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 33700000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 49053
- Contained Unit
- t
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total copper resource for West Desert is a valuable component of the polymetallic project, enhancing its overall economic potential.
Positive factors
- Significant total copper resource, adding to project value
- JORC 2012 compliant and QP signed
Evidence · table
“0.15”
Context: 33.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
indicatedWest Desert Project · silverTonnes: 33700000Grade: 9.08Grade Unit: g/tContained Metal: 9816779Contained Unit: ozView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- silver
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:6ff704395e13296ad393
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 33700000
- Grade
- 9.08
- Grade Unit
- g/t
- Contained Metal
- 9816779
- Contained Unit
- oz
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The total silver resource for West Desert significantly enhances the project's economic viability through substantial byproduct credits.
Positive factors
- Significant total silver resource, providing valuable byproduct credits
- JORC 2012 compliant and QP signed
Evidence · table
“9.08”
Context: 33.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · indiumTonnes: 33700000Grade: 20.01Grade Unit: g/tContained Metal: 23763978Contained Unit: ozView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- indium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:92651e3305f88b4391bf
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 33700000
- Grade
- 20.01
- Grade Unit
- g/t
- Contained Metal
- 23763978
- Contained Unit
- oz
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality.
Positive factors
- Largest undeveloped indium resource in the US, a critical metal
- Significant contained indium ounces
- JORC 2012 compliant and QP signed
Evidence · table
“20.01”
Context: 33.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · goldTonnes: 33700000Grade: 118761Grade Unit: ouncesContained Metal: 118761Contained Unit: ozView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- gold
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:92651e3305f88b4391bf
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 33700000
- Grade
- 118761
- Grade Unit
- ounces
- Contained Metal
- 118761
- Contained Unit
- oz
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This gold resource provides additional value to the polymetallic West Desert Project, enhancing its overall economic potential.
Positive factors
- Adds to the overall gold resource base
- JORC 2012 compliant and QP signed
Evidence · table
“118,761”
Context: 33.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredSeal Zinc Project · zincTonnes: 1000000Grade: 10.2Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Seal Zinc Project
- Commodity
- zinc
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- No
- Resource group id
- resource:ecedab958da368399d64
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1000000
- Grade
- 10.2
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-10-21T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Seal Zinc Project shows promising historical zinc grades, but its non-JORC compliant and historical nature means it cannot be relied upon for current resource classification without further work.
Positive factors
- Indicates potential for a high-grade zinc resource
Negative factors
- Historical estimate, not JORC 2012 compliant
- No Competent Person has done sufficient work to classify as JORC resource
Evidence · text
“Inferred resource of 1Mt @ 10.2% Zn, 46.5g/t Ag”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredSeal Zinc Project · silverTonnes: 1000000Grade: 46.5Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Seal Zinc Project
- Commodity
- silver
- Region
- canada_nu
- Reported Region
- Nunavut, Canada
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- No
- Resource group id
- resource:ecedab958da368399d64
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1000000
- Grade
- 46.5
- Grade Unit
- g/t
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-10-21T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Seal Zinc Project shows promising historical silver grades, but its non-JORC compliant and historical nature means it cannot be relied upon for current resource classification without further work.
Positive factors
- Indicates potential for significant byproduct silver
Negative factors
- Historical estimate, not JORC 2012 compliant
- No Competent Person has done sufficient work to classify as JORC resource
Evidence · text
“Inferred resource of 1Mt @ 10.2% Zn, 46.5g/t Ag”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredWest Desert Project · zincTonnes: 33700000Grade: 1290904Grade Unit: tonnesView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- zinc
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:92651e3305f88b4391bf
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 33700000
- Grade
- 1290904
- Grade Unit
- tonnes
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Largest undeveloped indium resource in the US, a critical metal
- Significant contained indium ounces
- JORC 2012 compliant and QP signed
Evidence · table
“1,290,904”
Context: 33.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · copperTonnes: 33700000Grade: 49053Grade Unit: tonnesView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- copper
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:92651e3305f88b4391bf
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 33700000
- Grade
- 49053
- Grade Unit
- tonnes
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Largest undeveloped indium resource in the US, a critical metal
- Significant contained indium ounces
- JORC 2012 compliant and QP signed
Evidence · table
“49,053”
Context: 33.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
inferredWest Desert Project · silverTonnes: 33700000Grade: 9816779Grade Unit: ouncesView all detailsHide details
Identity
- Project
- West Desert Project
- Commodity
- silver
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- AW1
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Allan Schappert
- Resource group id
- resource:92651e3305f88b4391bf
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 33700000
- Grade
- 9816779
- Grade Unit
- ounces
- Cutoff Grade
- 3.5
- Cutoff Unit
- % Zn equivalent
Prior Estimate
- Resource Date
- 2023-12-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Largest undeveloped indium resource in the US, a critical metal
- Significant contained indium ounces
- JORC 2012 compliant and QP signed
Evidence · table
“9,816,779”
Context: 33.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.8 years before this release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.