Special Report: 22m thick mineralised interval discovered from maiden hole drilled in testing of strike extension at Antler Copper Deposit
The discovered interval was 291m down-hole and includes 7.8m of massive and semi-massive sulphide which was intersected at the southern extension of the deposit, where drilling has just begun.
New World Resources (ASX: NWC) secured the rights for 100% ownership of the Antler Copper Deposit in March 2020 and were able to immediately target deep drill holes at an interpreted zone of thicker mineralisation directly down-plunge from historical workings.
The new mineralisation intersected was approximately 250m below surface and 120m down-dip from the closest previous drill hole. Mineralisation remains open and untested down-dip, but the initial finding strongly suggests that mineralisation may be thicker with depth.
New World managing director Michael Haynes said: “Intersecting a thick zone of sulphide-rich mineralisation in our first hole outside the area we have been drilling recently is a fantastic result.”
“While more drilling is required, this new intersection provides further evidence that there is a lot more mineralisation to be discovered at Antler. Our ongoing exploration success should continue to enhance the economic viability of recommencing mining operations at the project.”
Follow-up drilling to test for extensions of the mineralisation has already commenced, with two rigs currently operating and a third scheduled to be at the site next week.
Drilling at southern extension
Until now, New World had targeted a strike of approximately 200m at the northern end of the Antler Deposit, based on results of historical drilling which suggested thick mineralisation may be present at depth there.
This interpretation has been validated over recent months with exceptional results from drilling in the area, and the company will continue to explore depth and strike extensions as part of its overall drilling program.
New World Resources are also looking at expanding beyond the target of 200m, aware that the deposit outcrops over more than 750m of strike. To aid with further discovery, the company has acquired new geophysical, geochemical and geological data over the entire 750m range and integrated this information with historical data.
That work culminated in drilling their first hole in this new area, ANTDD202026 – the results of which were announced today.
Near-term plans at Antler
No drilling has previously been undertaken down-dip of ANTDD202026, which presents considerable potential for further discoveries of thick mineralisation. As has been previously found in the northern end of the Antler Deposit, the latest results show that thickening mineralisation could be located within the southern range.
New World aims to aggressively explore the deposit, with a third rig soon to be operating at the project. The company will continue to test for extensions of the continuous thick, high-grade mineralisation more than 300m down-dip from the historical workings at the northern end of the Deposit, while also testing for extensions of the Antler Deposit to the south.
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.