The copper resource potential at New World Resources’ (ASX: NWC) Antler project just “keeps getting better” as exploration continues more than 1km from surface.
That quote from the company follows a high-grade intersection from the deepest hole drilled to date at the Antler deposit.
At 1,057.2m down hole, the latest intersection was 21.3m at 3.3% copper, 4.4% zinc, 1.4% lead, 64.8 grams per tonne silver and 0.72g/t gold.
That intersection included a 7.8m interval grading 7.6% copper, 10.6% zinc, 0.1% lead, 38.2g/t silver and 1.3g/t gold.
These new results extend the deposit a further 150m down dip from the previous assays reported to the ASX.
PFS to show greater potential than recent scoping study
The results so far “demonstrate the continuity of very high-grade mineralisation from outcrop at surface to more than 1,000m down dip”.
“The Antler copper deposit keeps on getting better and better,” commented managing director and chief executive officer Mike Haynes.
“We are clearly on to a very significant VMS (volcanic massive sulphide) deposit.”
“It is highly likely we’ll be assessing a significantly greater production profile and/or a mine life in our than we evaluated in the recent scoping study,” he added.
Project in same rock formations as historic long-life mines
Antler is located in a sparsely populated region of northwest Arizona, 20km from the town of Yucca, which is on the UN Interstate 40.
Numerous other VMS operations were located in this area, including the United Verde deposit where 33 million tonnes of ore were mined between 1883 and 1975 at a grade of 4.8% copper.
The UVX deposit saw 3.9Mt produced between 1915 and 1992 at an average 10.2% copper.
Antler was discovered in the late 1800s and mined intermittently between 1916 and 1970 for a total of 70,000t at 2.9% copper, 6.9% zinc, 1.1% lead, 31g/t silver and 0.3g/t gold.
Mining occurred down to 200m, but no operations went beyond that depth.
Deposit remains open at depth, more drilling along strike
Assays for several holes drilled recently to test for depth extensions of the South Shoot are expected in the coming weeks.
After that, the company will before the end of 2022 prepare an updated mineral resource estimate for inclusion in its PFS.
Antler remains completely open at depth with resource extension drilling continuing, the company says.
Meanwhile, a geophysical survey of strong soil anomalies is planned for early October along strike from Antler.
New World says this will be done in advanced initial drill testing.
