New World Resources (ASX:NWC) reports significant assay results have been returned from 3 deep exploration holes drilled recently to test for extensions of the ‘Main Shoot’ at its 100% owned Antler Copper Deposit in northern Arizona, USA.
The Main Shoot comprises a steeply plunging zone of thicker, ‘very high-grade’ mineralisation that the company discovered over the past 2 years, since it started exploring for extensions of the mineralisation below the historical underground workings at Antler, which were most recently operational in 1970.
All three holes intersected ‘thick, high-grade’ mineralisation.
The best results were returned from the deepest hole drilled at the project to date, and ‘significant’ results include:
- 21.3m @ 3.3% Cu, 4.4% Zn, 1.4% Pb, 64.8g/t Ag and 0.72g/t Au from 1057.2m in ANT98W1
This interval included an ‘extremely high-grade’ at the base of that intercept, which comprised:
- 7.8m @ 7.6% Cu, 10.6% Zn, 0.1% Pb, 38.2g/t Ag and 1.20g/t Au from 1070.7m in ANT98W1
‘Thick high-grade’ mineralisation was also intersected in the two other deep extensional holes, including:
- 7.8m @ 1.6% Cu, 3.7% Zn, 0.8% Pb, 35.3g/t Ag and 0.19g/t Au from 987m in ANT94AW2
- 8.7m @ 0.3% Cu, 0.02% Zn, 2.4% Pb, 138.7g/t Ag and 1.93g/t Au from 1010.7m in ANT98
These results extend the depth of the known mineralisation by a further 150m (from previously announced results, from ANT94AW1 which intersected 18.2m @ 2% Cu, 3.4% Zn, 0.9% Pb, 30.8g/t Ag and 0.20g/t Au or 18.2m @ 3.4% Cu-equivalent), thereby increasing the down-dip extent of the Antler Copper Deposit to more than 1,000m.
The mineralisation remains completely open at depth, and extensional drilling continues.
Assays have been returned from three very shallow holes drilled recently to sterilise shallow levels below and around the site New World anticipates using for crushing and processing plant (drillholes ANT101, ANT105 and ANT106).
Significant mineralisation was intersected in one of these holes, comprising:
- 2.8m @ 1.8% Cu, 3.8% Zn, 1.9% Pb, 31.2g/t Ag, and 0.07g/t Au from 84.9 in ANT105.
This coincides with the upper extension of the South Shoot, and the implications of these results will be assessed during the ongoing Pre-Feasibility Study.
Following receipt of these results, the JORC Mineral Resource Estimate (MRE) will be updated for incorporation into the Pre-Feasibility Study.
“we are clearly onto a very significant VMS deposit”
New World Managing Director and CEO Mike Haynes said the Antler Copper Deposit keeps on getting better the more the Company drills.
“Intersecting 21m @ 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 the mineralisation remains completely open at depth, we are continuing to drill deeper and deeper to continue to expand the resource base.
“We have assays pending for several holes drilled to test the depth extensions of the adjacent South Shoot.
“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.
“It is highly likely we’ll be assessing a significantly greater production profile and/ or a longer mine life in our PFS than we evaluated in the recent Scoping Study.
“This is likely to further enhance what are already very robust economics for developing the Project.”.
New World recently delineated extensive soil geochemistry anomalies along strike from and within the same geological sequence that hosts the Antler Copper Deposit.
Given that Antler is a VMS-type deposit, and in light of previous success, the Company has had using induced polarisation (IP) geophysics to discover extensions of the deposit, New World has commissioned a geophysical survey contractor to undertake IP surveying over the geochemical targets.
New World expects that coincident geochemical and IP targets will be tested as high-priority targets during an initial drilling program later this year.
The IP survey is scheduled to commence in early October.
The Antler Copper Project is located in a sparsely populated region of northwestern Arizona, 30km from Kingman, and it lies within 2 patented mining claims that cover over 40ha.
The Deposit is surrounded by an additional 67 unpatented mining claims covering a further 1,340ha.
New World Resources is an Australian company focused on the exploration and development of mineral resources projects in North America.
The Company also owns the Tererro Copper-Gold-Zinc VMS Project in New Mexico, USA, located 120km northeast of Albuquerque, New Mexico.
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