New World Resources Completes Antler Deposit Reserve Upgrade Drilling Program
THE DRILL SERGEANT: New World Resources (ASX: NWC) reported final assay results from recently drilled Reserve in-fill holes at the company’s Antler copper deposit in Arizona, USA.
New World Resources completed 10 Ore Reserve definition drill holes within the Antler deposit aiming to test portions of the deposit the company considers likely to be mined in the first 3-5 years of operations according to a Pre-Feasibility Study completed earlier this year.
The final hole from the Reserve definition drilling intersected exceptionally thick and high-grade mineralisation in the Main Shoot, with assay results including:
18.6 metres at 2.8 per cent copper, 9.4 per cent zinc, 0.9 per cent lead, 41 grams per tonne silver and 0.29g/t gold from 390m (18.6m at 5.9 per cent copper-Equiv.); and
2.4m at 0.69 per cent copper, 3.34 per cent zinc, 0.89 per cent lead, 23.5g/t silver, and 0.1g/t gold from 428.9 (2.4m at 1.9 per cent copper-Equiv.)
New World said the results had exceeded its expectations from the current Resource model and, as a result, both the tonnes and the grade of the corresponding part of the Mineral Resource are expected to be enhanced because of this drilling.
“Antler continues to consistently deliver high-grade mineralisation with recent in-fill drilling yielding one of the thickest and highest-grade intercepts seen to-date, being 18.6 metres at 5.9 per cent copper-equivalent,” New World Resources managing director Nick Woolrych said in the company’s ASX announcement.
“This spectacular hole is the culmination of a drilling program aimed at increasing Resource classification confidence in the first 3-5 years of the Antler mine life.
“Overall, the Reserve definition drilling program exceeded our expectations, which allows New World to proceed confidently to DFS and into development.
“We have started work on an updated Resource, which is expected to be finalised in Q1 2025, with the outcomes expected to include a sizeable component upgraded to Measured.
“In parallel, New World has commenced other key DFS workstreams, including metallurgical testing and detailed mine and infrastructure design.
“The State and Federal permitting processes are also proceeding well, and the company has received exceptional support from both the local and Federal governments, including recent site visits from Congressman Paul Gosar – the recently re-elected representative of Arizona’s 9th Congressional District and therefore, our representative in Washington.
“New World is firmly on track to rapidly advance one of the world’s highest-grade and most economically robust copper development projects into production in 2027!”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE