New World reports 'exceptional' copper hit

New World Resources has reported a hit of 23.3m at 6.7% copper equivalent from its Antler copper deposit in Arizona (reports MiningNews).
6th November 2020
Resources Rising Stars

New World Resources has reported a hit of 23.3m at 6.7% copper equivalent from its Antler copper deposit in Arizona (reports MiningNews).

The hit comprised 23.3m at from 23.3m at 3.48% copper, 8.84% zinc, 1.24% lead, 64.4 grams per tonne silver and 0.5gpt gold from 445m, the best ever returned from the project.

The intercept is more than 300m down-dip from the deepest historical stopes, and more than 450m from surface.

Mineralisation remains open at depth and along strike.

"In terms of contained metal, this is the best intercept ever returned from the Antler project," New World managing director Michael Haynes said.

"Significantly, we have now demonstrated that thick, high-grade mineralisation extends, continuously, more than 300m below the historical stopes, and both grade and thickness appear to be improving with depth.

"We continue our aggressive approach to exploration with a view to near-term production, with two rigs continuing to drill and a third expected on site soon."

A follow-up hole hit 16m of massive and semi-massive sulphides, while another hit 4.9m of copper and zinc-rich massive sulphides, with assays due later this month.

The company secured the rights to acquire Antler in January.

The historical mine, which sits on private land, produced about 70,000 tonnes averaging 2.9% copper between 1916 and 1970, all above 150m depth, but has barely been drilled since then.

New World shares were up 7.1% to 4.5c, valuing the company at $53.2 million.

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