New World’s high-grade Antler copper mineralisation just keeps getting deeper

Things are getting deep for New World Resources at its Antler copper deposit in Arizona, with 13.3m of high-grade mineralisation struck in the deepest hole drilled to date.

The latest intersection by New World (ASX:NWC), which hit 13.3m at 2.8% copper 2.2% zinc, 1.4% lead, 58.3 grams per tonne silver and 1.13g/t gold from 881m, came more than 75m down-plunge of previous deepest drilling in the project’s main shoot.

Ongoing drilling is testing for extensions of the “Main Shoot” of the orebody at depth and has so far confirmed that the mineralisation here extends more than 730m down-dip from the mineralisation that outcrops at surface.

Mineralisation here remains completely open at depth and extensional drilling continues, with the company confident of the potential to further expand the resource base at Antler.

The latest standout assay was just one of a bevy of promising results reported recently by New World from the project.

“Our exceptionally high strike rate as we continue to drill deeper and deeper under the very high-grade Antler copper deposit is extremely encouraging,” New World managing director Mike Haynes said.

“This latest intercept of more than 13m of high-grade mineralisation in the deepest hole we have completed to date at Antler is expected to deliver further growth in the resource base, which in turn bodes very well for the economics of re-starting mining operations.”

Antler already has an Indicated and Inferred mineral resource of 7.72 million tonnes at 2.23% copper, 5.32% zinc, 0.9% lead, 28.8g/t silver and 0.18g/t gold when estimated using a 1% copper-equivalent cut-off.

The latest hits suggest that figure could grow significantly.

Shallow holes increase confidence

A series of 12 shallow holes were also drilled at Antler late in 2021, designed to improve the understanding of shallow mineralisation which would potentially be developed early in a mine schedule at the project.

Assays from four holes in that program have been returned, with each hole hitting significant mineralisation.

Better results include:

3.8m at 1.2% copper, 6.2% zinc, 0.7% lead, 25.8g/t silver and 0.2g/t gold from 45.2m;
2.5m at 1.9% copper, 6.9% zinc, 2.6% lead, 52g/t silver and 0.2g/t gold from 139.1m, and;
2.5m at 1.2% copper, 5.3% zinc, 2.5% lead, 57.1g/t silver and 0.33g/t from 37.9m.

The company said the results were in line with expectations and added confidence to the resource base which would facilitate more accurate mine design work during the project’s mine study.

What now?

After the initial mineral resource for Antler was announced in November last year, ongoing mine studies has been exploring the potential to recommence mining at the project for the first time in more than 50 years.

Initial results from the studies are expected in the coming months and are a critical step in the preparation of mine permit applications.

In the meantime, three diamond core rigs continue to drill to expand the Antler resource, particularly at depth. Assay results are also currently pending for 14 additional holes.

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.