New World Resources begins geophysical survey along strike from Antler
New World Resources has begun a pre-feasibility study for Antler, which is due for completion in the March quarter of next year.
New World Resources (ASX: NWC) has commenced ground-based induced polarisation (IP) geophysical surveying over a number of strong soil anomalies along strike from its high-grade Antler copper deposit in Arizona, US.
The Perth-based exploration company expects the survey will provide “excellent opportunities” to uncover additional mineralisation at its 100%-owned Antler copper deposit.
Following receipt and interpretation of the IP data, New World plans to begin an initial drilling program towards the end of 2022.
New World managing director and chief executive officer Mike Haynes said the IP geophysical survey will provide exciting opportunities for the company.
“We are excited to commence a ground-based geophysical survey over the strong soil anomalies we delineated recently along strike from our very high-grade, and rapidly expanding, Antler copper deposit,” he said.
“We believe there is considerable potential to discover additional VMS (volcanogenic massive sulphide) deposits, like Antler, along strike.”
In its announcement, the company said further exploration success would extend the life of its operations and potentially increase production rates in the future –boosting the value of its wider Antler project.
Mineralisation at the deposit is VMS-style, and this type of mineralisation often occurs in clusters.
As a results, New World says there is strong potential to discover additional VMS mineralisation along strike from the Antler deposit.
Survey aims to accelerate discovery
In mineral exploration, IP surveying aims to locate thick and/or high-grade concentrations of sulphide minerals as they often exist in VMS deposits such as Antler.
Towards the end of 2020, initial drill testing of a strong IP anomaly south of Antler uncovered thick, very high grade “South Shoot”, with a vertical extent of at least 700m.
Best drill intersections from the 2020 program were: 17.1m at 3.3% copper, 9.5% zinc, 1.2% lead, 34.8 grams per tonne silver and 0.16 g/t gold; and 16.1m at 1.5% copper, 7% zinc, 0.4% lead, 16.2g/t silver and 0.14g/t gold.
Other notable intersections were 7.3m at 2.3% copper, 7.2% zinc, 1% lead, 28g/t silver and 0.17g/t gold; and 3.1m at 3.8% copper, 11.6% zinc, 0.1% lead, 20.3g/t silver and 0.15g/t gold.
New World said the IP survey will speed up its discovery of further mineralisation.
“The IP survey is being undertaken to help expedite the discovery of thicker and/or higher-grade mineralisation associated with the soil anomalies,” Mr Haynes said.
The surveying will take place across a number of soil geochemistry anomalies, including its Antler Offset, Copper Knob, Rattlesnake Ridge and Insulator anomalies.
Ongoing drilling
Mineralisation at the Antler deposit remains completely open at depth, with the best results coming from deep holes drilled at the project.
Resource expansion drilling is currently underway at the deposit, with two diamond core rigs operating to test for depth extensions.
Mr Hayes said due to New World’s recent success, the company is able to expand the depths of its drilling going forward.
“Because of the extraordinary success we continue to have with our drilling to test the depth-extensions of the Antler deposit itself, will be the first drilling at the project outside the 600m-long corridor we have been continuously drilling since March 2020,” he said.