New World Resources says Antler copper deposit just keeps growing

New World Resources says the latest assays from three deep exploration holes at its Antler copper deposit in Arizona, USA, have further expanded the deposit 150m down dip.

Assays from the Main Shoot include 21.3m at 3.3% copper, 4.4% zinc, 1.4% lead, 64.8g/t silver and 0.72g/t gold (21.3m at 5.3% copper-equivalent).

“The Antler Copper Deposit keeps on getting better and better the more we drill,” New World Resources (ASX:NWC) MD and CEO Mike Haynes said.

“Intersecting 21m at 5.3% copper-equivalent in the deepest hole we’ve drilled yet confirms that thick, very high-grade mineralisation extends, continuously, at least 1,000m down-dip from the outcropping mineralisation at surface.

“So, we are clearly onto a very significant VMS deposit.

“And with the mineralisation remaining completely open at depth, we are continuing to drill deeper and deeper to continue to expand the resource base.”

Mineral resource updated pending

Resource extension drilling is continuing ahead of the next Mineral Resource update scheduled for later this year.

“We have assays pending for several holes drilled to test the depth extensions of the adjacent South Shoot,” Haynes said.

“We anticipate receiving those assays in the coming weeks.

“We’ll then update the JORC Resource so we can complete further mine design work on that updated Resource as part of the Pre-Feasibility Study.”

Updating project economics in the PFS

Haynes says it’s likely the company will be assessing a significantly greater production profile and/or a longer mine life in its PFS than evaluated in the recent Scoping Study.

“That is likely to further enhance what are already very robust economics for developing the project,” he said.

An IP survey over several strong soil geochemistry anomalies along strike from Antler is scheduled to commence in early October, in advance of initial drill testing – which the company says provides additional opportunities to expand the resource base at the project.

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.