New World (ASX:NWC) pulls out high-grade Arizona copper from boreholes

New World Resources has struck more thick and very high-grade mineralisation from hydrogeological drilling to install additional groundwater monitoring wells at its Antler Copper Project in the US state of Arizona.

While very high-grade mineralisation was expected from the four holes drilled into the deposit, intercepts as strong as 33.9 metres at 6.9 per cent and 3.4m at 6.5% copper-equivalent remain very relevant.

The returns have reinforced the block model and are expected to improve confidence in parts of the established 11.4 million tonne resource of 4.1% CuEq.

And a lone hole deliberately drilled outside the deposit also returned a noteworthy 6.7m @ 1.6% Cu-Eq strike.

New World Managing Director Mike Haynes said the result was very much in line with expectations, but it was still pleasing the holes had returned outstanding thickness and grades of mineralisation.

“While these holes were drilled for hydrogeological purposes, in due course the additional geological and assay data will help us upgrade the confidence level (and classification) of the parts of the resource that these holes intersected,” Haynes said.

“The results reinforce the exceptional grade and endowment of the deposit. Those holes are now being used to obtain baseline hydrogeological information that is a crucial component of developing a mine at Antler.”

Western Australian company New World is looking toward a restart from the high-grade polymetallic volcanogenic massive-sulphide Antler deposit which intermittently produced 70,000 tonnes of Arizonan ore from 1916 to 1970.

The Subiaco-based explorer quickly exercised its option to fully acquire Antler after successful initial work programs.

It also holds a full interest in an additional 4050 acres of unpatented mining claims on adjoining US federal lands.

A pre-feasibility study over Antler is underway and expected late into the year in 2024, and while tonnage upgrades there appear done for now, New World has other VMS targets in the exploration bag.

Drilling at the high-priority Bullhorn target a short 350m along strike skip from Antler began less than a fortnight ago, one of four such targets drill-approved and delineated over five kilometres of strike immediately to the northeast.

There is also a high-profile and previously untested Discus copper prospect being drilled at New World’s Javelin VMS project in northern Arizona, offering a flow of returns as the company crunches the numbers toward production in the Grand Canyon state.