- New World Resources (NWC) has identified a significant exploration target south of historical mine workings at the Antler Project in Arizona
- The target was identified following interpretation of data received via a recent controlled-source audio-frequency magneto-telluric survey
- This survey was undertaken to outline potential extensions of sulphide-rich mineralisation at the project
- Data spans the entire 750-metre strike at Antler and moves west with depth
- Similar data was identified 300 metres south of the South Shoot in an area that is significantly underexplored
- This area is now considered high-priority and a drill rig has been deployed with work to begin shortly
- Shares in New World are down 8.7 per cent on the market, trading at 10.5 cents
New World Resources (NWC) has identified a significant exploration target south of historical mine workings at the Antler Project.
Antler lies in northwestern Arizona and lies between two private mining claims that cover 40 square kilometres.
The target was identified following interpretation of data received via a recent controlled-source audio-frequency magneto-telluric (CSAMT) survey.
The CSAMT survey was undertaken to outline potential extensions of sulphide-rich mineralisation at the project.
Data has extended along the entire 750-metre strike of the Antler Project and progressively moves west with depth.
Similar data was identified 300 metres south of the South Shoot in an area that is significantly underexplored.
Between 12 to 15 holes have been previously drilled in this area with grades peaking at 5.9 per cent copper, 9.57 per cent zinc, 4.24 per cent lead, 66.9g/t silver and 0.28g/t gold.
This area is now considered a high-priority target and has considerable potential for resource expansion at Antler.
One drill rig has already been deployed to this area and drilling is set to begin shortly.
“The delineation of a largely untested, strong CSAMT geophysics anomaly over more than 300 metres of strike, immediately south of the recently discovered thick, high-grade South Shoot at the Antler Deposit is an exciting development,” Managing Director Mike Haynes said.
“There is potential to add more mineralisation to the resource base, which could further enhance the economics of redeveloping a mining operation,” he added.
Shares in New World are down 8.7 per cent on the market this morning, trading at 10.5 cents at 10:36 am AEST.