New World Resources (ASX:NWC) reports ‘high-grade’ mineralisation continues to be intersected with deep extensional drilling at the Antler Copper Deposit in Arizona, US.
Assay results from 11 exploration drillholes at its 100%-owned Antler Copper Deposit in northern Arizona have returned 18m of ‘high-grade’ mineralisation intersected in the deepest hole completed at the project to date.
New World reports for many months the company’s approach to drilling deep holes has been to initially drill a parent hole, usually to the south of the preferred target area, before drilling additional ‘wedge’ holes from the parent hole (by using directional drilling) to test surrounding areas.
For logistical reasons, the ‘wedges’ often (but don’t always) target areas to the north of the parent hole.
In the most recent drilling in the Main Shoot, parent hole ANT94A itself intersected very high-grade mineralisation between the Main and South Shoots, including:
- 3.8m @ 4.6% Cu, 8.0% Zn, 0.7% Pb, 40.9 g/t Ag and 0.27 g/t Au from 946.2m (3.8m @ 7.4% Cu-equivalent*)
New World’s Managing Director Mike Haynes said: “We’ve extended the Main Shoot by at least another 80 metres – so it now has more than 900 metres of continuous, down-dip extent – and the South Shoot by more than 250 metres, to more than 700 metres of dip extent.
“We’ve extended the Main Shoot by at least another 80 metres”
That should have a materially positive impact on the Mineral Resource base. And mineralisation remains completely open at depth.
The potential value of discovering additional mineralisation was clearly demonstrated when we published the results of our scoping study earlier this week.
Delivering further growth in the Mineral Resource base therefore continues to be a very high priority for the company, as it can only make the project’s potential economics look even more attractive.”
In the coming months the company will incorporate these recent assay results into an upgraded Mineral Resource Estimate (MRE).
The timing of this MRE update will depend somewhat on the turnaround-time for results from additional deep drilling, which could potentially have a materially positive impact on the Mineral Resource base and the project’s economics.
