New World steams ahead with DFS for Antler Cu project after 25% MRE increase

New World Resources Ltd (ASX:NWC) has increased its mineral resource estimate (MRE) for the Antler copper project in Arizona by 25%, bringing the new figure – which includes newly defined mineralised zones – to 14.2 million tonnes (Mt) at 3.8% copper equivalent (CuEq).

In addition to this material increase, the update also increases certainty in the resource – with 88% now in the measured and indicated categories – and provides a strong foundation for NWC to complete definitive feasibility on the project, with production to kick off in 2027.

Another aspect of the resource increase is that involving the contained metal found in Antler. The total contained CuEq metal rose by around 16% to 543,000 tonnes (of which 505,000t was measured and indicated).

This included a 27% increase in contained silver and a 15% increase in contained gold.

Another important component was the Antler Sulphide Domain Resource, which formed the basis of the Antler PFS mine plan. Its overall resource tonnes rose by 11% to 12.7 Mt at 4.1% CuEq compared to 2022 MRE.

Managing director Nick Woolrych said the update was a significant one in the company’s plans for Antler.

“We are extremely pleased with the updated Antler Mineral Resource Estimate, which marks a major milestone for New World in our pathway to production,” he said.

“The new Resource continues to demonstrate that Antler is not only one of the highest-grade copper projects in the world but is also now exceptionally well understood by our team as we head towards production in 2027.

“Compared to the November 2022 Resource, we’ve achieved a substantial increase in both geological certainty and tonnes, along with higher contained gold and silver ounces. It’s particularly exciting to see new mineralised domains now making their way into the overall estimate, adding further upside to the Project.”