- New World Resources (NWC) has uncovered more high-grade intercepts from the maiden drilling program at the Antler Copper Project in Arizona
- The company began its maiden drilling program in mid-March to outline a JORC-compliant indicated resource
- Results from this recently completed program include 5.73 per cent copper, 5.2 per cent zinc and 0.36 per cent lead
- These results show that there is considerable unmined high-grade mineralisation both below and along strike from previously mined areas
- New World is has dropped 20 per cent and shares are trading for 1.2 cents each
New World Resources (NWC) has uncovered more high-grade intercepts from the maiden drilling program at the Antler Copper Project.
The Antler Copper Project is located in northwestern Arizona in the United States and lies between two private mining claims that cover 40 square kilometres.
Exploration at Antler stopped in 1975 after a historical mineral resource estimate was defined.
It sits at 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 began its maiden drilling program in mid-March to outline a JORC-compliant indicated resource.
The companion has now received assay results from all six diamond core drill holes and these three recently completed holes intersected thick, high-grade mineralisation.
Significant results include 1.32 metres at 5.73 per cent copper, 3.67 per cent zinc, 0.25 per cent lead, 37.6g/t silver, and 0.38g/t gold from 209.45 metres, and 13.25 metres at 3.45 per cent copper, 5.2 per cent zinc, 0.36 per cent lead, 25g/t silver, and 0.41g/t gold from 128.32 metres.
These results show that there is considerable unmined high-grade mineralisation both below and along strike from previously mined areas.
They also show that there is potential to bring the project back into production.
New World will undertake drilling in the first week of June to outline a JORC mineral resource estimate, and advance towards a pre-feasibility study before mining can restart at Antler.
“These terrific results round out what has been a highly successful initial phase of drilling at Antler that has well and truly exceeded our initial expectations,” Managing Director Mike Haynes commented.
“There’s obviously a lot of unmined, high-grade mineralisation remaining and we will continue to expedite work programs aimed at determining how much of that there is,” he said.
“With drilling scheduled to resume in the first week of June and geophysical surveys and metallurgical testwork underway, we continue to advance many work streams in parallel so we can complete a pre-feasibility study by the end of 2020,” he added.
New World is has dropped 20 per cent and shares are trading for 1.2 cents each at 12:32 pm AEST.