Join our daily newsletter At The Bell to receive exclusive market insights
- New World Resources (NWC) has recommenced drilling at Antler Copper Project in Arizona
- Drilling was previously suspended due to COVID-19
- In March and April, New World completed six initial drill holes at the project
- The planned drilling is expected to extend these results and drill a further 12 to 15 holes
- The drilling is expected to be completed in the next four to six weeks, with assay results to follow shortly after
- On market close, New World is up 7.69 per cent and is selling shares for 1.4 cents each
New World Resources (NWC) has recommenced drilling at the Antler Copper Project in Arizona, U.S.
The company suspended operations due to COVID-19. In March and April, New World completed six initial drill holes at the project. In May, the company reported it found high-mineralisation from its maiden drilling program.
The planned drilling is expected to extend these results and drill a further 12 to 15 holes between 2500 and 3000 metres.
The drilling is expected to be completed in the next four to six weeks, with assay results to follow shortly after.
Magnetic surveying over the Antler Project has been completed and has seen some encouraging preliminary results. Final data is expected within the next two weeks.
During the past week, a consultant has been completing a petrophysics testwork on drill samples from the initial drill holes.
“This work has highlighted that the mineralisation at the Antler Deposit is very conductive and that it should give rise to a strong electromagnetic (EM) anomaly,” the company explained.
A contractor has now been chosen to undertake ground EM surveys. The surveying is scheduled to commence in four to five weeks. The EM data will be used to refine targets at the south of the Antler Deposit.
“High‐priority anomalies from the recently‐completed magnetic survey will
also be covered with EM surveying to refine targets in advance of drilling,” the company added.
On market close, New World is up 7.69 per cent and is selling shares for 1.4 cents each.
