New World Resources strikes high-grade copper at Antler deposit
New World Resources has intercepted massive copper sulphides and a new thick offshoot of mineralisation at its Antler copper project in the US state of Arizona.
The intercepts from recent drilling are some of the best New World Resources (ASX:NWC) has encountered to date at its Antler project, managing director, Mike Haynes, said.
“Importantly, the deepest hole we have now drilled has returned an exceptional 24.5m thick intercept of copper and zinc-rich massive sulphide mineralisation, 400m down-plunge from historical workings – and we are now eagerly awaiting essays for this hole,” he said.
Drilling along strike to the south has discovered a second shoot of high-grade mineralisation with recent drilling intersecting up to 11m thick intervals.
Thick high-grade mineralisation also extends at the northern end of the Antler deposit, including a well-mineralised 7.6m interval for which assay results are pending.
“We have also successfully extended the high-grade mineralisation along strike to the north, and in another important breakthrough discovered a second, thick shoot of mineralisation along strike to the south,” said Haynes.
New World Resources has completed a further 13 holes since the January New Year holiday, and another two drill holes are in progress at the Antler project.
Antler’s outcropping mineralisation has been mapped to extend over more than 750m of strike length and coincides with induced polarisation and magnetic anomalies.
The ongoing drilling program is testing deep extensions of thick, high-grade copper mineralisation that extend down-dip from historical workings, and poorly explored strike extensions in the south of the project.
During December 2020, New World Resources reported assay results from deeper drilling that intersected 23.3m at 3.48 per cent copper, 8.84 per cent zinc, 1.2 per cent lead, and 64.4 grams per tonne (g/t) gold and 0.5 g/t silver.
“The quality of the deposit continues to improve as our multi-pronged drilling effort continues, thereby laying strong foundations for the maiden JORC mineral resource estimate targeted for completion in April this year,” added Haynes.
New World Resources expects to publish a JORC mineral resource estimate for Antler in the next few months for use in its initial mine plan and mine permit applications.
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.