- New World Resources (NWC) has begun its first drilling program at the Antler Copper Deposit in Arizona
- This program is expected to cover between 12 and 16 holes for approximately 2500 metres
- The primary objective of this maiden drill program is to outline robust JORC compliant indicated resources
- Results will be used in mining studies if there’s potential to bring Antler back into production
- New World has ended the day 14.3 per cent in the red with shares trading for 0.6 cents each
New World Resources (NWC) has announced its first drilling program at the high-grade Antler Copper Deposit in Arizona, USA.
This initial diamond core drilling program is expected to cover between 12 and 16 holes for approximately 2500 metres.
Around 70,000 tonnes of ore was intermittently mined from Antler between 1916 and 1970 at a grade of around 2.9 per cent copper, 6.9 per cent zinc, 1.1 per cent lead, 31g/t silver and 0.3g/t gold.
In 1975 any subsequent exploration came to a halt after the definition of a historical resource estimate for the remaining mineralisation of 4.66 million tonnes at 1.95 per cent copper, 4.13 per cent zinc, 0.94 per cent lead and 35.9g/t silver
New World’s primary objective during this maiden drill is to outline robust JORC compliant indicated resources that can be used to evaluate if there’s potential to bring Antler back into production.
The company will undertake an appropriate amount of confirmatory drilling within an area of high confidence, high-grade mineralisation immediately below areas that have been drilled and sampled from underground.
Initial production is expected to be focused on this area.
Significant intersections include 5.55 metres at 4.39 per cent copper, 6.34 per cent zinc, 0.53 per cent lead, 20.6g/t silver and 0.56g/t gold.
The second step is to undertake in-fill drilling between the more widely spaced and deeper historical holes that indicate there is a thicker, high-grade plunging shoot down-dip of the previous stopes (opening an underground ‘room’).
Previous results from deeper drilling in this area include 1.43 metres at 4.75 per cent copper, 17.32 per cent zinc and 10.4g/t silver.
Shallow drilling will then be undertaken adjacent to the historical stopes to test the thickness and grade of unmined mineralisation.
The final step will include step-out drilling outside the plunging shoot, from step two, to test for thicker high-grade zones of mineralisation.
Assay results are expected approximately 4 to 6 weeks after the completion of each hole.
New World has ended the day 14.3 per cent in the red with shares trading for 0.6 cents each in a $6.112 million market cap.