New World Resources Limited (ASX:NWC) has received significant new assay results from three deep exploration holes drilled recently to test for extensions of the “Main Shoot” at its 100%-owned Antler Copper Deposit in northern Arizona, USA.
Testing Depth Extensions at Main Shoot
The Main Shoot comprises a steeply plunging zone of thicker, very high-grade mineralisation that the company has discovered over the past two years, since it started exploring for extensions of the mineralisation below the historical underground workings at Antler, which were most recently operational in 1970.
All three holes intersected thick, high-grade mineralisation. The best results were returned from the deepest hole drilled at the Project to date – from which significant results included:
• 21.3m @ 3.3% Cu, 4.4% Zn, 1.4% Pb, 64.8 g/t Ag and 0.72 g/t Au from 1057.2m (21.3m @ 5.3% Cu-equivalent) in ANT98W1. This interval included an extremely high-grade zone at the base of that intercept, which comprised:
• 7.8m @ 7.6% Cu, 10.6% Zn, 0.1% Pb, 38.2 g/t Ag and 1.30 g/t Au from 1070.7m (7.8m @ 11.3% Cu-equivalent) in ANT98W1. Thick high-grade mineralisation was also intersected in the two other deep extensional holes, including:
• 7.8m @ 1.6% Cu, 3.7% Zn, 0.8% Pb, 35.3 g/t Ag and 0.19 g/t Au from 987.0m (7.8m @ 3.1% Cu-equivalent) in ANT94AW2; and
• 8.7m @ 0.3% Cu, 0.02% Zn, 2.4% Pb, 138.7 g/t Ag and 1.93 g/t Au from 1010.7m (8.7m @ 2.1% Cu-equivalent) in ANT98;
These results extend the depth of known mineralisation by a further 150m (from previously announced results, from ANT94AW1 which intersected 18.2m @ 2.0% Cu, 3.4% Zn, 0.9% Pb, 30.8 g/t Ag and 0.20 g/t Au or 18.2m @ 3.4% Cu- equivalent) – thereby increasing the down-dip extent of the Antler Copper Deposit to more than 1,000 metres.
The mineralisation remains completely open at depth, and extensional drilling continues.
“The Antler Copper Deposit keeps on getting better and better the more we drill!
“Intersecting 21m at 5.3% copper-equivalent in the deepest hole we’ve drilled yet confirms that thick, very high-grade mineralisation extends, continuously, at least 1,000m down-dip from the outcropping mineralisation at surface,” Managing Director and CEO, Mike Haynes, said.
“So, we are clearly onto a very significant VMS deposit! And with the mineralisation remaining completely open at depth, we are continuing to drill deeper and deeper to continue to expand the resource base.
“We have assays pending for several holes drilled to test the depth extensions of the adjacent South Shoot. We anticipate receiving those assays in the coming weeks. We’ll then update the JORC Resource so we can complete further mine design work on that updated Resource as part of the Pre-Feasibility Study.
“It is highly likely we’ll be assessing a significantly greater production profile and/or a longer mine life in our PFS than we evaluated in the recent Scoping Study. That is likely to further enhance what are already very robust economics for developing the Project.”
“Sterilisation” Drilling
Assays have been returned from three very shallow holes drilled recently to “sterilise” shallow levels below and around the site the Company anticipates using for the crushing and processing plant (drill holes ANT101, ANT105 and ANT106).
Significant mineralisation was intersected in one of these holes, comprising: 2.8m @ 1.8% Cu, 3.8% Zn, 1.9% Pb, 31.2 g/t Ag and 0.07 g/t Au from 84.9m (2.8m @ 3.4% Cu-equivalent) in ANT105
This coincides with the upper extension of the South Shoot.
The implications of these results will be assessed during the ongoing Pre-Feasibility Study.
Updated JORC Mineral Resource Estimate
Assay results are pending for a further 11 drill holes – including from a series of holes drilled to test for further depth extensions of the South Shoot. Additional and significant assay results are anticipated in the coming weeks.
Following receipt of these results, the JORC Resource Mineral Resource Estimate (MRE) will be updated for incorporation into the Pre-Feasibility Study.
IP Survey
The company recently delineated extensive soil geochemistry anomalies along strike from and within the same geological sequence that hosts the Antler Copper Deposit.
Given that Antler is a VMS-type deposit (which commonly occur in clusters), and in light of previous success the company has had using induced polarisation (IP) geophysics to discover extensions of the Deposit, the company has commissioned a geophysical survey contractor to undertake IP surveying over the geochemical targets.
New World expects that coincident geochemical and IP targets will be tested as high-priority targets during an initial drilling programme later this year.
The IP survey is scheduled to commence in early October 2022.
For further information please visit: https://newworldres.com/
