It looks like New World’s Antler Mine has resource potential. Serious resource potential
Link copied to
High copper grades and chunky widths are providing confidence for US-focused explorer New World Resources ahead of the maiden resource estimate at its Antler copper project in Arizona.
So much so that the continuity of mineralisation uncovered will likely see many of the initial JORC resources classified as “indicated”.
Typically early stage explorers like New World Resources (ASX: NWC) will start off with inferred resources only.
That New World is already looking at the higher category is testament to the continuity of the widths and grades being seen in drill core since acquiring the historic mine in early 2020.
Its recent drill results confirm the ‘robustness’ of the Main Shoot at Antler, with some grades above a very high 4% copper equivalent, including:
While improving vertical and lateral continuity of the mineralisation was one thing, the results also point to the potential for more at depth, meaning New World expects to add to its inventory even after the maiden resource is announced.
“As we’ve continually reported since drilling commenced 17 months ago – the grades are high and the thicknesses are good, demonstrating that we have an exceptionally attractive development proposition on our hands at Antler, in a Tier-1 location,” New World managing director Mike Haynes said.
“We continue to confirm the good lateral and vertical continuity of mineralisation.
“Accordingly, we expect that a substantial proportion of the mineralisation that we have delineated to date will be classified as ‘Indicated Resources’ when we complete our initial JORC Resource estimate in the coming months.
“It’s important to note however that the high-grade mineralisation remains completely open at depth, with thicknesses appearing to improve with depth over the entire strike length of the deposit.
“We therefore expect that exploration drilling, to expand the resource base, will continue for the foreseeable future, including after our maiden JORC Resource is declared.”
Another 13 assays are still to be provided for reporting to the market with New World looking to ramp up the pace of drilling, with discussions “well-advanced” to add a third drill rig to the two already onsite.
This article was developed in collaboration with New World Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.