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

THE DRILL SERGEANT: New World Resources (ASX: NWC) has added a third drill rig to accelerate the drilling program it has underway at the company’s Antler copper and Javelin VMS projects in northern Arizona, USA.

New World Resources has had the exploration drilling program in operation for some time, during which it has defined more than 16 high-priority targets it considers to hold potential to discover high-grade volcanogenic massive sulphide (VMS) mineralisation at the two projects.

The third drill rig is scheduled to arrive at the Antler project later this month and is expected to be used for both ore reserve-definition drilling as well as resource expansion drilling.

Last year, NWC completed an Updated Scoping Study that outlined healthy economics around the potential development of the high-grade Indicated and Inferred Resource base at the Antler copper project, which currently comprises:

11.4 million tonnes at 2.1 per cent copper, 5 per cent zinc, 0.9 per cent lead, 32.9 grams per tonne silver and 0.36g/t gold (11.4Mt at 4.1 per cent copper-equivalent).

The company is close to finalising a Pre-Feasibility Study on the development of the project targeted for completion in June 2024.

“We are pleased to be committing to a third rig to accelerate our ongoing drilling program,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“We have now defined more than 16 high-priority, untested exploration targets across our Antler and nearby Javelin VMS projects.

“These warrant concerted drilling in their own right.

“And with the mine schedule for the PFS all but finalised, we also want to be in a position to advance Ore Reserve definition drilling concurrently.

“Having a third drill rig on site gives us the flexibility both to get ore reserve definition drilling underway while also being able to swing that rig to help advance exploration drilling, as appropriate.

“This will help us further de-risk the project from a technical standpoint as we continue to move towards production – so that we convert Mineral Resources to Ore Reserves and, at the same time, work to expand the Resource base so we can continue to be confident that we are optimising the ultimate scale of the project development.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

THE DRILL SERGEANT: New World Resources (ASX: NWC) reported delineation of a coincident IP chargeability/magnetic anomaly directly along strike from the company’s Antler copper deposit in Arizona, USA.

New World Resources identified the Bullhorn target via a drone magnetic survey and a ground Induced Polarisation (IP) survey over its 2023 acquisition of 1,000 acres of mineral rights along strike from the 11.4 million tonnes Antler copper deposit.

The company explained magnetic and IP anomalies of 400 metres length were revealed by the survey to be in the same geological sequence of metavolcanics that hosts the Antler copper deposit – which is a volcanogenic massive sulphide (VMS) deposit.

New World consider Bullhorn as a very-high priority target that warrants immediate drilling.

“The delineation of a 400m-long coincident magnetic/IP anomaly – our new Bullhorn Target – just 350m along strike from the Antler copper deposit, is a very exciting development,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“Bullhorn has many similarities to the Antler deposit.

“And given that VMS deposits typically occur in clusters, this undrilled target – which is located in the same geological sequence as the Antler deposit – represents an exceptional opportunity to make a new discovery in the near-mine environment.

“We are very fortunate to have so many quality exploration targets to test.

“In order to expedite our exploration efforts, we intend mobilising a second drill rig as quickly as possible – so we can continue to test our other high-priority targets while also commencing testing of the very high-priority Bullhorn target.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

THE DRILL SERGEANT: New World Resources (ASX: NWC) reported a maiden JORC Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Antler copper deposit in Arizona, USA.

New World Resources had the MRE prepared by an independent consultant that at a 1 per cent copper-equivalent cut-off, comprises:

7.7 million tonnes at 2.2 per cent copper, 5.3 per cent zinc, 0.9 per cent lead, 28.8 grams per tonne silver and 0.18g/t gold (7.7Mt at 3.9% copper-equivalent).

The company declared a high-level of confidence in the resource, with 74 per cent of the mineralisation classified in the Indicated category giving rise to potential for conversion to Ore Reserves.

“We are extremely pleased to have exceeded our expectations for both the tonnes and the grade of our maiden JORC Mineral Resource Estimate for the Antler copper deposit,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“With 74 per cent of the Resources classified in the “Indicated” category, and the Resource holding together really well at increasingly rigorous cut-off grades, we are confident we have a very sizeable and robust resource that is likely to underpin development of a high-grade mining operation that should have a long and profitable life, regardless of metal prices.

“But we also see that there’s a lot more mineralisation to be discovered at Antler.

“So, while we work to advance the project to production as quickly as practicable, we’ll concurrently work on expanding the Resource as quickly as possible – as these should both be huge value drivers.”

Based on the above and results to date, New World considers there to be potential for Resource expansion and so has set a new Exploration Target, which is to endeavour to expand the MRE at the Antler deposit in the next 9-12 months to around 10-12Mt of high-grade mineralisation at grades between 3-4 per cent copper-equivalent.

The company sees potential for further Resource growth beyond that and in order to convert this Exploration Target into JORC Mineral Resources, three drill rigs are continuing to operate at the project targeting extensions.

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@newworldres.com

Web: www.newworldres.com

THE DRILL SERGEANT: New World Resources (ASX: NWC) reported high-grade assay results from four recently completed drill-holes at the company’s Antler copper project in Arizona, USA.

Results include those from one of the deepest holes New World has drilled to date in the Main Shoot, delivering one of the best intersections returned from the project to date.

ANTDD202144
25.4 metres at 3.13 per cent copper, 8.91 per cent zinc, 0.27 per cent lead, 19.6 grams per tonne silver and 0.26g/t gold from 559.2m (25.4m at 5.2 per cent copper equivalent).

“ANTDD202144 is one of the best holes we have drilled to date at Antler in value terms,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“Importantly, it’s also one of the deepest holes we have drilled – and continues to demonstrate improving grade and particularly thickness of the mineralisation as we drill deeper below the historic workings.

“We are also continuing to discover additional thick, high-grade mineralisation with exploratory drilling along strike from the Main Shoot, which continues to expand and add confidence to the resource base.

“With drilling consistently delivering substantial thicknesses of very high-grade mineralisation at Antler, the project is continuing to emerge as one of the highest-grade undeveloped copper deposits globally and a very real near-term development proposition.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@newworldres.com

Web: www.newworldres.com