The copper resource potential of New World Resources’ (ASX: NWC) Antler project “keeps getting better” as exploration continues more than a kilometer from surface.
This quote from the company follows a high-grade intersection from the deepest hole drilled to date.
1057.2m down hole, last intersection assayed 21.3m 3.3% copper, 4.4% zinc, 1.4% lead, 64.8 grams per tonne silver and 0.72 g/t gold.
This intersection included a 7.8 m interval grading 7.6% copper, 10.6% zinc, 0.1% lead, 38.2 g/t silver and 1.3 g/t silver. gold.
These new assay results extend the deposit an additional 150m from previous results reported to ASX.
PFS expected to show greater potential than recent scoping study
New World reports that results so far “demonstrate the continuity of very high-grade mineralization from surface outcrop to over 1,000m downstream,” he noted.
“Antler’s copper deposit continues to improve,” commented Managing Director and CEO Mike Haynes.
“We are clearly on a very large VMS (volcanic massive sulphide) deposit.”
“It is very likely that we will evaluate in our[étude de préfaisabilité]a significantly higher production profile and/or life of mine than we assessed in the recent scoping study,” he added.[pre-feasibilitystudy)thanweevaluatedintherecentscopingstudy”headded[pre-feasibilitystudy)thanweevaluatedintherecentscopingstudy”headded
Project in the same rock formations as historic long-lived mines
Antler is located in a sparsely populated area of northwestern Arizona, 20 km from the town of Yucca, located on UN Interstate 40.
Many 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 3.9 Mt produced between 1915 and 1992 at an average of 10.2% copper.
Antler was discovered in the late 1800s and mined intermittently between 1916 and 1970 for a total of 70,000 tonnes at 2.9% copper, 6.9% zinc, 1.1% lead, 31 g/ t of silver and 0.3 g/t of gold.
Mining has taken place down to 200 m, but no operation has gone beyond this depth.
The deposit remains open at depth, more drilling along strike
Assays of several holes recently drilled to test the depth extensions of the South Shoot are expected in the coming weeks.
After that, the company will prepare before the end of 2022 an updated mineral resource estimate to be included in its PFS.
Antler remains fully open at depth and resource expansion drilling continues, according to the company.
Meanwhile, a geophysical survey of strong ground anomalies is scheduled for early October along the strike of Antler.
New World says this will be in advanced initial drill tests.