Base Metals: New World Resources hits high-grade copper in Nevada
Link copied to
While analysts are increasingly bullish about the prospects for copper as China continues its road to recovery from the COVID-19 pandemic, explorers are still returning some encouraging results.
New World Resources (ASX:NWC) has received very high-grade results from all three initial holes at its Antler copper project in Arizona that confirm that the zone of unmined mineralisation extends over a vertical distance of more than 150m.
The three holes returned mineable intersections of 5.45m grading 2.49 per cent copper, 11.83 per cent zinc from 193.5m, 393m at 4.18 per cent copper, 11.13 per cent zinc from 112.5m and 5.15m at 1.13 per cent copper, 8.53 per cent zinc from 308.3m.
Significant lead and silver credits were also noted in all three holes.
Managing director Mike Hayes said the third hole confirmed that mineralisation extended from surface to a depth of more than 250m, providing encouragement for ongoing exploration and evaluation of the project.
Assays from a further three holes are expected in May 2020.
Meanwhile, step-out drilling at Empire Resources’ (ASX:ERL) Yuinmery project in Western Australia’s Mid-West region has hit broad copper-gold sulphide mineralisation within the newly identified southern horizon at the YT01 prospect.
Notable results are 30m at 0.5 per cent copper and 0.07 grams per tonne (g/t) gold from 108m to end of hole including 12m at 0.73 per cent copper and 0.1g/t gold from 112m, 4m at 0.61 per cent copper and 0.37g/t gold from 152m and 4m at 0.82 per cent copper and 0.11g/t gold from 56m.
Downhole electromagnetic geophysical surveys are planned for the June quarter to test for massive sulphide mineralisation.
And follow-up drilling at the Smith Well prospect continues to demonstrate the potential for it to host substantial copper-nickel sulphide mineralisation.
This returned a top result of 12m at 0.49 per cent copper, 0.28 per cent nickel and 0.03 per cobalt from 86m including 4m at 0.61 per cent copper, 0.32 per cent nickel and 0.04 per cent cobalt from 94m.