New World Resources Limited (ASX: NWC) announced that new high-grade assay results were received from nine drill-holes drilled recently over 500m of strike at the Antler Copper Project in Arizona, USA.
The company said that high-grade assays were returned from all holes, with outstanding intercepts in both the new “South Shoot” and the “Main Shoot”.
Important hits included 6.2m @ 4.05% Cu, 12.13% Zn, 1.59% Pb, 50.9 g/t Ag and 0.24 g/t Au from 343.4m from the new “South Shoot” and 7.1m @ 5.85% Cu, 15.20% Zn, 0.93% Pb, 47.8 g/t Ag and 0.55 g/t Au from 289.0m from the “Main Shoot”.
NWC said that assays are pending for 12 additional completed drill holes, with the results expected over the coming weeks.
The company said that two rigs continue drilling at the Antler Project, with 10 RC pre-collars yet to be completed with diamond core tails. NWC reported that the CSAMT ground geophysics survey has commenced this week to help refine targets for deep extensional drilling.
Drilling at Antler project
The company had recently completed nine RC drill-holes at the Antler Copper Project.
The drilling targeted extensions of the very thick, high-grade mineralisation that extends down-dip from the historical workings, which remains completely open at depth – the “Main Shoot”; and the poorly explored strike extensions of the Antler Deposit, particularly to the south, where, exploratory drilling in late 2020 discovered a new shoot of thicker mineralisation that remains open at depth – the “South Shoot.”
The first hole the Company drilled to the South of the Historical Workings area (ANTDD202026) had intersected a thick zone of mineralisation. Subsequently, the company drilled a series of follow-up holes to explore for the extensions of this thick, high-grade mineralisation.
NWC has now reported encouraging assay results for six of the initial holes drilled around ANTDD202026 (ANTRCDD202028, ANTRCDD202029, ANTDD202030, ANTDD202031, ANTDD202033, and ANTDD202136).
The company said that it has been drilling deeper holes below the historical workings at the Antler Deposit to further evaluate the “Main Shoot”. The company has now reported the assay results for drill hole ANTRCDD202025 and ANTDD202135 and two deeper holes targeting extensions of the mineralisation downdip from ANTRCDD202025 – ANTDD202144 and ANTDD202153.
High-grade hits from South Shoot
The company said that significant mineralisation was intersected in all six holes. These were exploratory holes that have successfully facilitated the discovery of a second thicker shoot of high-grade mineralisation – the “South Shoot”, located only about one hundred metres south of the “Main Shoot”.
The company said that exceptional results were returned from ANTDD202030, which intersected two very high-grade zones of mineralisation only 8m apart, comprising 6.2m @ 4.05% Cu, 12.13% Zn, 1.59% Pb, 50.9 g/t Ag and 0.24 g/t Au from 343.4m; and 6.7m @ 5.87% Cu, 13.74% Zn, 0.18% Pb, 41.1 g/t Ag and 0.30 g/t Au from 357.8m.
ANTRCDD202029, ANTRCDD202028, ANTDD202136
Other significant assay results included 3.9m @ 0.98% Cu, 5.36% Zn, 0.86% Pb, 23.2 g/t Ag and 0.06 g/t Au from 348.5m; and 1.6m @ 3.05% Cu, 14.13% Zn, 1.28% Pb, 41.5 g/t Ag and 0.17 g/t Au from 355.2m in ANTRCDD202029; 1.6m @ 5.09% Cu, 15.09% Zn, 0.78% Pb, 42.6 g/t Ag and 0.23 g/t Au from 353.9m in ANTRCDD202028; and 0.3m @ 0.16% Cu, 4.34% Zn, 1.09% Pb, 50.0 g/t Ag and 0.02 g/t Au from 319.0m; and 0.95m @ 0.13% Cu, 0.11% Zn, 3.12% Pb, 112 g/t Ag and 0.16 g/t Au from 327.7m and 1.8m @ 3.12% Cu, 8.19% Zn, 1.07% Pb, 38.6 g/t Ag and 0.15 g/t Au from 329.9m in ANTDD202136.
Visual results – ANTDD202156
The company also reported visual results from subsequent follow-up drilling which intersected a 17-metre interval of predominantly massive and semi-massive sulphide copper and zinc-rich mineralisation in drill hole ANTDD202156 – the deepest hole drilled to date in the new “South Shoot”.
NWC said that the down-dip extent of the South Shoot now stands at around 250m, with the mineralisation remaining completely open at depth. Assay results for ANTDD202156 and several other proximal holes are pending.
High-grade results from Main Shoot
The company said that assay results have now been received for ANTRCDD202025, with significant results including 19.3m @ 1.56% Cu, 5.87% Zn, 1.13% Pb, 34.4 g/t Ag and 0.17 g/t Au from 465.0m; and 3.3m @ 2.72% Cu, 4.80% Zn, 0.09% Pb, 10.4 g/t Ag and 0.14 g/t Au from 494.5m.
NWC also reported 24.5m of copper and zinc- rich massive sulphides in ANTDD202144 (assays pending). This intersection is approximately 70m down plunge from the mineralization intersected in ANTRCDD202025; and a total of more than 17 metres of very well mineralised material within an overall 30m-thick mineralised interval in ANTDD202153.
The Company also reported assay results for ANTDD202135 – which was drilled earlier this year as part of the evaluation of the shallower parts of the Main Shoot. Assays included 7.1m @ 5.85% Cu, 15.20% Zn, 0.93% Pb, 47.8 g/t Ag and 0.55 g/t Au from 288.95m.
NWC said that the Main Shoot now extends, continuously, more than 600m down-dip from surface. It remains completely open at depth. The company said that follow-up drilling is in progress to continue to evaluate its depth extents.
New World said that further drilling in the shallow levels of the Main Shoot will be planned following assessment of the maiden JORC Resource estimate for the Project, which is scheduled to be completed in the coming months.
Latest updates and next steps
The company reported that assay results are currently pending for a further 12 completed drill holes.
NWC said that two diamond core rigs continue operating at the Antler Project. The company said that 10 RC pre-collars have been drilled in advance of completion, through target zones, with diamond core drilling. New World noted that the completion of these holes is being prioritised, in conjunction with drilling new diamond core holes from surface to test new targets arising from the ongoing drilling and other exploration activities.
The Company had completed an Induced Polarisation (IP) ground geophysics survey at the Antler Project in September 2020, which had aided in the discovery of the new, thick, high-grade South Shoot that continues to grow with further drilling.
However, as the IP survey had limited depth penetration, the Company is currently undertaking a Controlled Source Audio-Frequency Magnetotellurics (CSAMT) geophysical survey over, and along strike from, the Antler Deposit in order to delineate responses from deep extensions of the sulphide-rich mineralisation, both in the Main Shoot and the new South Shoot.
The company said that the surveying commenced this week, with data acquisition expected to be completed within two weeks. NWC said that results are expected in April 2021.
New World Managing Director, Mike Haynes, said: “We are really pleased to have received these outstanding assay results that reaffirm we have a really prospective, very-high-grade near-term development proposition in Antler.
The exceptionally high grades returned from one of the discovery holes drilled into the new South Shoot is a particularly encouraging development. In that hole, a 6.2m thick interval averages 7.2% copper-equivalent and only 8m further down the same hole a different 6.7m thick interval averages almost 9% copper-equivalent. This adds extremely valuable high-grade tonnes to our resource base, in a newly discovered area.
Additionally, we now have assays for a new 7.1m thick intersection in the shallower part of the Main Shoot that averages almost 10% copper-equivalent. While one of the deepest holes we now have assays for in the Main Shoot has returned a 19.1m-thick intersection that has assayed 3.3% copper-equivalent. We continue to add substantial and valuable high-grade tonnes there as well.
Antler continues to emerge as one of the highest grade undeveloped copper deposits globally. It is a very exciting discovery and very real near-term development proposition.”
*Image Source: New World Resources Limited