Adds Third Rig To Accelerated Drilling Campaign In Arizona
New World Resources Limited (ASX: NWC) has drilled its best intercept to date in its ongoing exploration programme at the Antler Copper Project in Arizona, USA.
The company has received further positive assay results for a further two diamond core drill holes, including from an exceptional interval of 23.3m @ 3.48% Cu, 8.84% Zn, 1.24% Pb, 64.4 g/t Ag and 0.50 g/t Au from 445.0m (23.3m @ 6.7% Cu equivalent).
Managing Director, Michael Haynes, said the assays have provided great impetus.
“In terms of contained metal, this is the best intercept ever returned from the Antler Project,” Mr Haynes said.
“Significantly, we have now demonstrated that thick, high-grade mineralisation extends, continuously, more than 300m below the historical stopes, and both grade and thickness appear to be improving with depth.
“We continue our aggressive approach to exploration with a view to near-term production, with two rigs continuing to drill and a third expected on site soon.”
The company recently drilled hole ANTDD202020 to evaluate the down-dip extension of mineralisation intersected in drill hole ANTRCDD202017, which comprised 30.5m @ 1.99% Cu, 4.85% Zn, 0.09% Pb, 11.1 g/t Ag and 0.46 g/t Au from 408.0m (30.5m @ 3.6% Cu equivalent.
The company has now delineated a continuous zone of thick, high-grade mineralisation that extends (i) more than 300m down-dip from historical stopes, and (ii) more than 450m from surface.
Mr Haynes said these results not only assist the company plan further holes to evaluate the extensions of this mineralisation, that remains open both at depth and along strike, to continue to increase the resource base, but also further support the company’s view that there is considerable potential to restart high-grade mining operations at the Antler Deposit in the near-term.
New World has now secured the services of a third drill rig. This diamond core rig is expected to arrive on site within the next two weeks. “With one diamond core rig and one Reverse Circulation rig currently operating at the Project, the mineralisation open both at depth and along strike, and with the company consistently returning outstanding results with ongoing drilling, the arrival of a third rig will help the company to expedite drill testing of the multiple geological and geophysical targets it has delineated during recent months.”
