Drill Results
Ameriwest to Advance Its Bornite Copper Project by Re-Logging and Re-Assaying Historical Drill
Ameriwest Advances Historical Core Re-Logging at Bornite Copper Project Amidst Price Correction
Executive Summary
- Core Relocation & Re-logging: Ameriwest has moved approximately 41,702 feet of historical drill core from Liberty Mine (Tonopah) to a secure facility in Reno, Nevada.
- Re-Assaying Plan: The company intends to use multi-element assay approaches on specific historical holes (CC03, CC09, CC15, etc.) to modernize the database and support future NI 43-101 resource estimation.
- Corporate Governance: Granted 1,525,000 incentive stock options to directors, officers, and consultants at $0.40 per share with immediate vesting and a five-year term.
- Project Status: The Bornite Property is a copper-gold-silver breccia pipe (~450 feet diameter) open at depth, located 50 miles east of Salem, Oregon.
Material Impact
- Execution Validation: This news confirms the execution of the work program outlined in the February 2026 financing update ("Transfer historic drill core to secure storage... re-log and selectively re-sample"). It validates management's progress toward a resource estimate but does not introduce new upside beyond previously communicated plans.
- Dilution Impact: The issuance of 1,525,000 options at $0.40/share matches the current market price ($0.40 on May 19). While immediate dilution is low (options are not shares), it increases future float and signals management confidence in the stock trading above this level.
- Market Context: The stock has corrected significantly from its March 2026 high of $0.72 to current levels around $0.40. This news serves as a stabilizer, preventing further negative sentiment regarding stalled exploration activities, but lacks the catalyst strength (e.g., drill results) to reverse the downtrend immediately.
- Risk Mitigation: Re-assaying historical data is a lower-risk step than new drilling, reducing capital burn while building confidence in the geological model before committing to expensive infill drilling.
AWCM · Price
Company Overview
- Ameriwest Critical Metals Inc.: A diversified critical metals explorer focused on North American assets.
- Flagship Project: Bornite Copper-Gold-Silver Property (Oregon).
- Type: Breccia pipe mineralization.
- Dimensions: ~450 feet diameter, extending from surface to ~1,000 feet depth.
- Historical Resource Estimate (Pre-NI 43-101): 3.2 Mt @ 2.2% Cu, 0.017 oz/t Au, 0.54 opt/t Ag.
- Status: Early exploration/Resource definition phase; no compliant resource defined yet.
- Secondary Assets: Xeno Rare Earth Project (BC), Thompson Valley Lithium (AZ).
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Jun 22, 2026 · 19:55