New World Resources (ASX: NWC) has identified new targets along strike from the existing resource at its Antler copper project in Arizona.
Soil sampling along strike of the primary Antler deposit has identified numerous targets, which are yet to be drill tested.
High priority soil anomaly targets for further exploration include Antler Offset where up to 146 parts per million copper and 190ppm zinc were uncovered and Copper Knob, which returned up to 305ppm.
New World noted the southern parts of Antler Offset coincide with mapped outcropping mineralisation, which makes this a “very high-priority” target.
Other priority soil anomalies comprise Rattlesnake Ridge (up to 365ppm copper), Insulator (240ppm copper) and West World (82ppm copper).
Rattlesnake Ridge of immediately southwest of Copper Knob, while West World and Insulator are within 4.5km of the Antler deposit.
New anomalies point to upside
Commenting on the soil sampling results, New World managing director and chief executive officer Mike Haynes said where there is one volcanogenic massive sulphide (VMS) deposit such as Antler, geologically, there are often two and sometimes more in proximity.
“In light of this, we are very excited to have received very encouraging results from first-pass soil geochemistry sampling that covered more than 6km of the strike extensions of the geological sequence that hosts the Antler deposit.”
Mr Haynes noted the recently completed scoping study for Antler demonstrated “considerable value” could be generated with the discovery and mining of additional mineralisation.
He said this would extend the operation’s life and/or increase production rates to make the economics look “even more attractive”.
“So, to be delineating new, high-quality exploration targets, from our very first phase of exploration work along strike from the Antler deposit is very encouraging.”
Mr Haynes said the company has now engaged a geophysical contractor to carry out induced polarisation surveying over the targets “as soon as possible”, with drilling expected to begin later this year.
Antler copper deposit
New World published a scoping study for Antler earlier this month, which indicated a 10-year mine life and US$2 billion in potential revenue over this time.
The study was based on a resource from November last year of 7.7 million tonnes at 2.2% copper, 5.3% zinc, 0.9% lead, 28.8 grams per tonne silver and 0.18g/t gold.
A pre-feasibility is already underway, with resource updates expected in the coming months from ongoing drilling at the project.
