New World Resources Limited (ASX: NWC) announced that a recent Induced Polarisation (IP) geophysical survey has delineated a strong, +500m-long chargeability anomaly directly over the Antler Copper Deposit in Arizona, USA, further expanding its potential.
NWC said that it’s drilling to date has focused primarily on the northern end of this IP anomaly, including on the fringes of the strong anomalism – returning exceptional thicknesses of high-grade VMS mineralisation.
The company said that these results reinforce the considerable potential to extend the strike of the Antler Deposit at the southern end of the IP anomaly – where limited previous shallow drilling has intersected high-grade massive sulphide mineralisation in multiple holes.
NWC said that the initial drill testing of the IP anomalism has commenced, with a Reverse Circulation (RC) and a diamond core rig both currently operating at the Project. The Company said that it is seeking a third drilling rig to expedite drill testing of its numerous high-quality targets.
Antler copper project
The Antler Copper Project is located in a sparsely populated region of north-western Arizona in the USA. The Antler Deposit lies within a NE-trending belt of Precambrian gneissic and schistose rocks thought to have originally been volcanic in origin. The Deposit comprises a stratabound, pyrrhotite-rich, copper-zinc volcanogenic massive sulphide (VMS) body.
The Antler Deposit lies within two patented (private) mining claims that cover 40 acres. The Deposit is surrounded by an additional seven unpatented (BLM) mining claims that cover a further 340 acres.
Intermittent production from the Deposit between 1916 and 1970 totalled approximately 70,000 tonnes of ore at a grade of around 2.9% Cu, 6.9% Zn, 1.1% Pb, 31 g/t Ag, and 0.3 g/t Au.
Between 1970 and 1975, a total of 19 holes were drilled from the surface and underground with the objective of increasing confidence in the known mineralisation immediately below the mined levels in advance of anticipated resumption of mining; and exploring for additional mineralisation.
Historical (1975) Mineral Resource estimate for the Antler Deposit comprised of 4,660,000 tonnes of ore at a grade of around 1.95% Cu, 4.13% Zn, 0.94% Pb, and 35.9 g/t Au.
The historical workings at the Antler Deposit includes intersections of 30.5m @ 1.99% Cu, 4.85% Zn, 0.09% Pb, 11.1 g/t Ag and 0.46 g/t Au from 408.0m in ANTRCDD202017; 17.4m @ 2.63% Cu, 6.72% Zn, 0.64% Pb, 26.9 g/t Ag and 0.26 g/t Au from 382.3m in ANTRCDD202014; and 10.6m @ 4.15% Cu, 8.22% Zn, 0.69% Pb, 32.4 g/t Ag and 0.50 g/t Au from 410.65m in ANTRCDD202016.
The Company said that its immediate objective was to delineate a JORC-Code Indicated Resource that could be used in mining studies to evaluate the potential to bring the Antler Deposit back into production in the near-term.
IP survey at Antler
The company had successfully completed an Induced Polarisation (IP) geophysical survey at Antler deposit recently. IP is a well-established geophysical technique that can be used to map the distribution and concentration of sulphide minerals.
The IP survey was commissioned to help expedite prioiritisation of targets along strike from the thick high-grade mineralisation the Company had discovered recently directly down-dip from the historical workings at the Antler Deposit.
Strong IP anomaly delineated
NWC announced that the IP survey has delineated a strong, +500m-long chargeability anomaly directly over the Antler Deposit.
Significant intersections from historical drilling
The Company said that its recent drilling primarily tested the northern end of this anomalism, with strong intersections of massive-sulphide mineralisation returned even on the fringes of this anomaly.
NWC said that several, predominantly shallow and widely-spaced holes were drilled historically where the strong IP anomaly extends to the south.
The company said that historical drilling had returned a number of significant intersections of high-grade mineralisation, including 2.1m @ 1.81% Cu, 9.57% Zn, 1.13% Pb, 9.8 g/t Ag and 0.10 g/t Au from 92.0m, and 2.7m @ 1.82% Cu, 4.07% Zn, 4.24% Pb, 48.0 g/t Ag and 0.11 g/t Au from 109.3m in DDH4; 1.65m @ 4.20% Cu, 4.13% Zn, 1.25% Pb and 66.9 g/t Ag from 318.4m in B-4; and 1.22m @ 5.90% Cu, 3.41% Zn, 0.88% Pb, 59.8 g/t Ag and 0.28 g/t Au from 204.2m in B-9.
Results reinforce potential to extend the strike
The company reported that the results of drilling to date confirm the presence of high-grade mineralisation in the vicinity of the new IP anomalism.
The company noted that the results reinforce the considerable potential to extend the strike of the Antler Deposit at the southern end of the IP anomaly, where limited previous shallow drilling had intersected high-grade massive sulphide mineralisation in multiple holes.
Deeper drilling warranted
NWC announced that on the basis of these results, further deeper drilling is warranted, as the IP data indicates that additional thick, high-grade mineralisation may be present in close proximity to, and/or down-dip from, the mineralisation intersected in these historical holes.
Updates and next steps
New World Resources said that the initial drill-testing of the IP anomalism has commenced to test strike extensions of the Antler Deposit to the south. The company said that two drilling rigs, an RC, and a diamond core rig, currently in operation at the Antler Project.
The Company said that it is seeking a third rig to expedite drill-testing of the numerous high-quality exploration and resource expansion targets it has delineated recently.
New World announced that it intends undertaking further drilling around and below the areas where stoping has historically been undertaken, with this drilling ongoing.