New World Resources expands strong anomaly at Antler deposit
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Special Report: Geophysical survey results have expanded the massive potential of New World Resources’ Antler copper deposit in the US state of Arizona.
An induced polarisation (IP) survey has delineated an anomaly directly over the Antler deposit that is more than 500m long and quite probably reflects a strong concentration of sulphide minerals.
IP is a geophysical surveying technique used to map the distribution and concentration of sulphide minerals such as copper.
The survey will help New World Resources (ASX:NWC) to prioritise targets along strike from thick, high-grade mineralisation recently detected down-dip from historical workings.
Drilling to date at the Antler project has concentrated on the northern end of this induced polarisation-detected anomaly.
Historical drilling in the anomaly zone has returned a number of high-grade intersections.
Mineralisation at Antler included intersections of 10.6m at 4.15 per cent copper, 8.22 per cent zinc, 0.69 per cent lead, 32.4 grams per tonne (g/t) silver, and 0.5 g/t gold from 410.65m.
Now the company intends to probe strike extensions to the deposit’s southern flank, and it has started drill testing this area of the anomaly.
Two drilling rigs are in operation at the Antler project, and the Company is looking to secure a third rig to expedite testing of numerous high-quality resource targets.
New World Resources acquired the Antler project in January, and the asset has several favourable attributes, including high grades, past production, good infrastructure and is located in a tier-one mining jurisdiction.
The company plans to complete in-fill drilling in areas with considerable historical drilling that has demonstrated the presence of mineralisation to complete a JORC resource estimate.
New World Resources has several other projects under development in western US.
They include its Colson cobalt-copper project in Idaho and Tererro copper-gold-zinc project in New Mexico.
Copper has a bright future with the red metal used in a wide range of industrial applications.
Managing director, Michael Haynes, said recently that global copper supply is waning at the same time that demand is taking off.
New World Resources is teeing up its Antler project to maximise this market opportunity.
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.