American West Metals Ltd successfully raised A$7.0 million to advance its Storm Copper Project in Canada, focusing on resource upgrades and development initiatives.

Information on the Target

American West Metals Ltd (ASX: AW1) is advancing its Storm Copper Project, located in Canada, through a successful capital raising of A$7.0 million. This funding aims to enhance various activities, such as upgrading the Mineral Resource Estimate, conducting Preliminary Economic Assessment (PEA) and Preliminary Feasibility Study (PFS) level studies, and facilitating a comprehensive project development and exploration program planned for 2025.

With a strong commitment to exploration and development, the American West Metals team, including Dan Lougher, John Prineas, Tom Peregoodoff, and Dave O'Neill, are poised to utilize this capital to unlock the project's potential further.

Industry Overview in Canada

Canada is recognized as a Tier-1 mining jurisdiction, boasting a dominant regional land package spanning over 2,200 square kilometers within an established