New World Resources Identifies Gold-Rich Alteration Zone at Antler Deposit

THE DRILL SERGEANT: New World Resources (ASX: NWC) reported identifying additional gold mineralisation at the y’s Antler Copper project in Arizona, USA.

New World Resources explained the newly identified mineralisation to be associated with the footwall alteration and stringer zone, a domain of the project’s Antler deposit, which the company has previously explored for its base metal potential.

The company is conducting an exploration review, wherein sampling and analysis of drill core from outside the previously reported massive sulphide domains and in the newly identified stringer zone has revealed elevated gold grades over 550m of strike and 1000m dip extent, all of which falls outside the current mine plan.

Gold intercepts yielded to date in the alteration zone include:

ANT0023
7m at 2.03 grams per tonne gold, 3.95m at 1.53g/t gold, and 1.85m at 0.68g/t gold;

ANT0009
1.17m at 7.53g/t gold;

ANT0017
4.35m at 1.84g/t gold and 2.5m at 2.28g/t gold;

The ongoing review will involve further work to define the extent, continuity, and grade of the gold mineralisation, and how any such mineralisation may be included in future mine plans.

“As Antler rapidly proceeds to development, the identification of significant gold mineralization within the stringer zone at Antler represents an exciting potential new source of value for the company,” New World Resources managing director Nick Woolrych said in the company’s ASX announcement.

“We are currently in the process of a detailed exploration review and field work programs following the 2024 drilling programs, with one of the world’s leading VMS experts appointed to assist.

“This exciting development is a direct result of this work.

“The ongoing work at the Antler Copper project continues to generate positive results, highlighting the project’s significant exploration upside.

“The company remains committed to advancing the project through systematic exploration and evaluation alongside permitting and financing, with the goal of unlocking its full value as we finalise feasibility studies in 2025 and proceed to production in 2027.”

The JORC Mineral Resource Estimate (MRE) for the Antler Deposit currently comprises 11.4 million tonnes at 2.1 per cent copper, 5 per cent zinc, 0.9 per cent lead, 32.9g/t silver and 0.36g/t gold (11.4Mt @ 4.1% Cu-equivalent), which the company claims to make it one of the highest-grade copper deposits in the world (on a copper-equivalent basis).

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE