Join our daily newsletter At The Bell to receive exclusive market insights
- New World Resources (NWC) has intersected massive-sulphide mineralisation in all six holes at the Antler Copper Project in Arizona
- The company began its maiden drilling program in mid-March to outline a JORC compliant mineral resource
- The holes have confirmed that mineralisation spans a 250 metre length and depth of at least that
- Further drilling is planned to outline a JORC complaint indicated resource which can be used in future drill programs
- However, this may be pushed back as New World has suspended operations as COVID-19 infections have recently increased in the region
- New World has skyrocketed 61.1 per cent and shares are trading for 1.5 cents each
New World Resources (NWC) has intersected massive-sulphide mineralisation in all six holes of the maiden drilling program at the Antler Copper Project.
The Antler Copper Project is located in north-western Arizona, U.S, and lies between two private mining claims that cover 40 square kilometres.
Exploration at Antler stopped in 1975 after a historical mineral resource estimate was defined. It sits at 4.66 million tonnes at 1.95 per cent copper, 4.13 per cent zinc, 0.94 per cent lead and 35.9g/t silver.
New World began its 2500 metre maiden drilling program at Antler in mid-March, with the primary aim of outline a JORC compliant indicated resource.
Based off results received from this program, Antler could potentially be brought back into production.
These six holes were broadly spaced and this has confirmed that mineralisation spans a length of 250 metres and a depth of at least 250 metres.
Laboratory assays results are required to determine the widths and grades of the mineralisation and New World will update the market when the assays have been analysed. This is expected during May 2020.
Further drilling along strike, at depth, and between the holes is planned to outline a JORC complaint indicated resource which can be used in future drill programs.
However, this may be pushed back as New World has suspended operations at Antler for the time being as COVID-19 infections have increased in the region during the past week.
Operations will be suspended until health and safety risks are deemed to be at an acceptable level.
New World has skyrocketed 61.1 per cent and shares are trading for 1.5 cents each at 12:51 pm AEST.
