New World drilling hints that Antler resource will be a sight to behold
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Drilling at New World’s Antler copper project in Arizona continues to deliver high-grade results that highlight the robustness of mineralisation.
Results such as 7.3m grading 4.2% copper equivalent from a depth of 473m and 3.1m at 6.4% copper equivalent from 487.4m in ANT69 and 5.9m at 5.9% copper equivalent in ANT67 certainly bode well for a maiden resource estimate scheduled for completion later this month.
The recent results also set the stage for future growth with New World Resources (ASX:NWC) noting that they confirm the continuity of mineralisation in the South Shoot and in the area between the Main and South Shoots – both of which remain completely open at depth.
“We are pleased to see a continued flow of outstanding high-grade assay results from the Antler Project,” managing director Mike Haynes said.
“While we still have assays pending for nine completed holes, and three rigs will continue to drill, we need to draw a line in the sand so we can establish a base case resource, to establish the foundation for our mine permitting work.
“We have no doubt that we’ll continue to expand the resource. But while we do so, we want to be securing approvals to commence mining, so we can capitalise on the prevailing high commodity prices by moving from exploration to production as quickly as possible.”
The latest results come just days after the company chose to exercise its option to acquire 100% of Antler, stating its belief that it was on the verge of delineating a critical mass of high-grade mineralisation that may be sufficient to underpin the development of a mine and standalone processing facility.
New World notes that ANT69 was one of the deeper holes completed to date to help explore the down-dip extensions of the South Shoot, where continuous high-grade mineralisation has now been defined over a down-dip extent of more than 350m.
This remains completely open at depth with depth extensions continuing to be one of the company’s highest priority targets for further drilling and resource expansion.
It added that while the results from ANT67 suggests that mineralisation between the Main and South shoots is slightly thinner than it is within the shoots themselves, they also continue to confirm that there is a high likelihood that intervening mineralisation should be recoverable in a potential mining operation.
This is due to the thickness of the intervening mineralisation making it suitable for stoping while the grades remain high.
As such, further drilling between the two shoots will be an important component of ongoing mine design work and resource-to-reserve conversion drilling.
New World first secured a four-year option to acquire a 100% interest in the Antler Project in January 2020 and has been drilling there continuously since March 2020.
It covers two patented mining claims that cover 40 acres, surrounded by an additional seven unpatented mining claims that add a further 340 acres.
The project includes the historical Antler deposit that was discovered in the late 1800s and subject to intermittent mining between 1916 and 1970 that produced about 70,000t of ore at a grade of about 2.9% copper, 6.9% zinc, 1.1% lead, 31 grams per tonne (g/t) silver and 0.3g/t gold.
Exploration by the company has consistently delivered exceptional results, leading it to exercise the option well in advance of its expiry, as part of its plans to proceed with development.
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.