New World Resources Limited (ASX: NWC) has intersected a new zone of thick mineralisation at the Antler Copper Project in Arizona, USA.
Managing Director, Michael Haynes, said the new zone of thick, high-grade mineralisation remains open at depth, and the company continues to explore depth and strike extensions as part of its ongoing drilling programme.
Intersecting a thick zone of sulphide- rich mineralisation in our first hole outside the area we have been drilling recently is a fantastic result,” Mr Haynes said.
“While more drilling is required, this new intersection provides further evidence that there is a lot more mineralisation to be discovered at Antler.
“Our ongoing exploration success should continue to enhance the economic viability of recommencing mining operations at the Project.”
The 22m-thick mineralised interval, including 7.8m of massive and semi-massive sulphides, was intersected in the first hole the company has drilled to begin testing the southern extension of the Antler Deposit at depth.
The mineralisation intersected in ANTDD202026 is ~250m below surface; and 120m down-dip from the closest previous drill hole.
Notwithstanding this success, the company has been aware that the Antler Deposit outcrops over more than 750m of strike, with the vast majority of the historical drilling, until recently, having been focussed on just 200m of this strike length.
New World has successfully acquired new geophysical, geochemical and geological data over the 750m of outcropping mineralisation and integrated this information with historical data, with a view to expediting discovery of thicker zones of high-grade mineralisation along strike from the historical workings.
Having completed interpretation of new Induced Polarisation data in October the company recently commenced drilling to evaluate the southern extension of the Antler Deposit.
The larger the resource base, the more likely it will be that commercially viable mining operations can be re-started at the Project in the near-term.
The company continues to aggressively explore the Deposit, with two rigs currently operating at the Project and a third rig scheduled to arrive on site early next week.
In the near term, the company will continue to test for extensions of the continuous thick, high-grade mineralisation delineated to date more than 300m down-dip from the historical workings, while also testing for extensions of the Antler Deposit to the south.