New World Resources spots high-grade copper and potential resource growth in Arizona

NWC reports up to 5.1% copper at Antler and Javelin projects in Arizona
The company is eyeing resource growth at Antler with satellite deposit potential
Assays pending for 6 holes

Special Report: New World Resources’ latest round of drilling has intersected up to 5.1% copper at its Antler and Javelin projects in Arizona, USA.

Earlier this month the company released a pre-feasibility study for Antler, which outlined the technically and financially robust development of a 1.2Mtpa underground mining operation with a 12.2-year life, including the construction of a new processing plant.

Now, resource expansion drilling at the recently acquired Pinafore and Red Cloud deposits at the Javelin project returned:

3m at 2.64% copper, 5.62% zinc, 0.14% lead, 20.2g/t silver and 0.15g/t gold (Pinafore deposit)
1.3m at 2.08% copper, 2.27% zinc, 11.5g/t silver and 0.38g/t gold (Pinafore deposit); and
2.2m at 0.92% copper, 1.65% zinc, 5.5g/t silver and 0.25g/t gold (Red Cloud deposit).

Ore reserve definition drilling at Antler returned:

5.3m at 4.12% copper, 8.64% zinc, 1.55% lead, 51.3g/t silver and 0.72g/t gold (5.3m at 6.8% copper-equivalent)
2.4m at 4.5% copper, 4.2% zinc, 0.33% lead, 31.3g/t silver and 0.08g/t gold (2.4m at 5.3% copper-equivalent); and
1.6m at 5.07% copper, 1.68% zinc, 0.30% lead, 20.5g/t silver and 0.47g/t gold (1.6m at 5.3% copper-equivalent) and 1.7m at 1.18% copper, 3.71% zinc, 0.75% lead, 23.4g/t silver and 0.09g/t gold (1.7m at 2.3% copper-equivalent).

Assays are pending for six remaining holes.

Exploring satellite deposit potential

The aim of the drilling at Antler is to increase the confidence in the components of the mining inventory that are scheduled to be mined in the first 3-4 years of operations – and to obtain a composite sample to use in advanced metallurgical testwork.

“It is very pleasing to be intersecting high-grade mineralisation at new prospects as we accelerate our exploration drilling program to expand the resource base at our very high-grade Antler copper project in Arizona,” New World Resources’ (ASX:NWC) managing director Mike Haynes said.

“The high-grade results from initial drilling at the Pinafore and Red Cloud deposits, including an intersection of 3 metres at 4.3% copper-equivalent, confirm that there is considerable potential to delineate additional high-grade resources at satellite deposits that could potentially be trucked to the processing plant we intend building at the Antler deposit.”

Pic: Location of the Antler and Javelin projects in northern Arizona, USA. Source: NWC.

Building on the 11.4Mt resource

With more than 17 high-priority exploration targets defined at the Antler and Javelin projects, the company has progressively added drilling rigs to accelerate its exploration program.

“With three rigs now drilling around the clock to test a multitude of targets across the Javelin and Antler projects, we expect to continue to expand the resource base, which already stands at a very impressive 11.4Mt at 4.1% copper-equivalent, over the coming months,” Haynes said.

VMS deposits such as Antler tend to occur in clusters; and the company has multiple targets for further drilling within its 5,000 acre project area.

And at Javelin, Induced Polarisation (IP) and ground electromagnetic (EM) surveys will be completed in the coming months to help target extensions of mineralisation.

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.