New World Resources (NWC.AX) has released assay results from the South Shoot zone on the Antler copper project in Arizona and one of those holes encountered the best assay results ever seen at Antler.
New World just combines these results to end up with 26.8 meters of 7% Copper-Equivalent but that must be an Australian thing as in most other countries you cannot just combine two mineralized zones if there’s a barren area in between them, even if both intervals are separate by just four meters of rock. The entire press release seems to be overflowing of excitement with statements like ‘cracking holes’ and the abundant use of exclamation marks.
While that’s a ‘special’ way to communicate results to the investment community, it obviously does not impact the results and those are effectively very impressive. And as you can see, hole ANT109 was one of the deepest holes to date and the mineralization remains completely open at depth.
And it wasn’t just a lucky shot. Past drilling at the Antler project has encountered numerous zones of high-grade copper with for instance 23.3 meters of 3.5% copper, 10% ZnPb, 64 g/t silver and 0.5 g/t gold and 4.1 meters containing 2.2% copper, 20% ZnPb, 59.7 g/t silver ad 0.28 g/t gold. Additionally, drilling is also focusing on the discovery of a potential third shoot and although the grades are encouraging (10.3 meters of 2.3% copper-equivalent), the holes intersected ‘considerable faulted material’ with only relatively thin layers of mineralization present (1.6 meters of 3.4% CuEq and 2.9 meters containing 4.6% CuEq) and future drilling will be testing the deeper zones.
Disclosure: The author has no position in New World Resources. Please read our disclaimer.
