- Junior explorer New World Resources (NWC) confirms some major depth extensions to key zones within its Antler copper deposit, part of the wider Antler project in Arizona
- The company says recent drilling completed at the Main Shoot and South Shoot in the area struck high-grade mineralisation down-dip from previous exploration work
- The drilling extends the Main Shoot by 80 metres to more than 900 metres of mineralisation and the South Shoot by over 250 metres to more than 700 metres of dip extent
- NWC Managing Director and CEO Mike Haynes says the extensions could have a “materially positive” impact on the Antler project’s mineral resource base
- Shares in New World Resources are trading grey at 3.1 cents per share at 11:05 am AEST
Junior explorer New World Resources (NWC) has confirmed some major depth extensions to key zones within its Antler copper deposit, part of the wider Antler project in Arizona.
The company today unveiled the results of another round of drilling in the area, flagging extensions to the depth of mineralisation at both the Main Shoot and the South Shoot within the prospect.
At the Main Shoot, NWC struck 18 metres of high-grade mineralisation in the deepest hole completed at the project to date, returning grades of up to 2 per cent copper, 3.4 per cent zinc, 0.9 per cent lead, 30.8 grams per tonne (g/t) silver and 0.2 g/t gold from 987.8 metres.
The company said this result extended the Main Shoot 80 metres down-dip.
As for the South Shoot, NWC reported “very high-grade” assay results from two holes that struck mineralisation more than 250 metres down-dip from the previous deepest drilling in the area.
The South Shoot results include a 6.8-metre hit at 3.2 per cent copper, 10.6 per cent zinc, 1.6 per cent lead, 55.6 g/t silver and 0.2 g/t gold from 794 metres.
Importantly, both the Main Shoot and the South Shoot remain open at depth.
NWC Managing Director and CEO Mike Haynes said the new drilling results “should have a materially positive impact on the mineral resource base” of the Antler project.
“We’ve extended the Main Shoot by at least another 80 metres — so it now has more than 900 metres of continuous, down-dip extent — and the South Shoot by more than 250 metres, to more than 700 metres of dip extent,” Mr Haynes said.
“The potential value of discovering additional mineralisation was clearly demonstrated when we published the results of our scoping study earlier this week.”
He said delivering further growth in the project’s mineral resource base remained a “very high priority” for the company.
The company also drilled six shallower holes at the southern end of the deposit to test potential mineralisation associated with Controlled Source Audio-frequency Magnetotelluric (CASMT) geophysics anomalism.
However, NWC said the drilling only intersected narrow mineralisation, and the company now plans to test for deeper mineralisation in this area.
Meanwhile, four “sterilisation” drill holes completed at the prospect also only returned narrow intervals of mineralisation below and around the site NWC plans to use for its crushing and processing plant.
Shares in New World Resources were trading grey at 3.1 cents per share at 11:05 am AEST.