Antler is a volcanogenic massive sulphide deposit with a current resource of 11.4Mt @ 2.1% copper, 5% zinc, 0.9% lead, 32.9g/t silver and 0.36g/t gold (4.1% copper equivalent).
VMS deposits are created as a result of sea floor and sub-sea floor volcanic activity – and are commonly associated with high grades of copper, zinc, lead, gold and silver.
They are also known for forming in clusters, which is why New World Resources (ASX:NWC) is now drilling at the Bullhorn target, a “lookalike” of Antler just 350m to the south.
Bullhorn is just one of 6-8 priority targets the company plans to drill over the coming months.
NWC has now reinforced the robustness of its resource model for the Antler deposit after assaying of holes drilled for hydrogeological purposes – to study groundwater resources – returned further high-grade intersections such as:
• 33.9m (estimated true width of 17m) @ 3.2% copper, 12.4% zinc, 2.6% lead, 85.1g/t silver and 0.36g/t gold (6.9% copper equivalent); and
• 3.4m (ETW 2.5m) @ 4.6% copper, 7.7% zinc, 1.1% lead, 42.1g/t silver and 0.26g/t gold (6.5% copper-equivalent).
Assay results and geological information from these holes will be incorporated into an updated resource block model.
“It is pleasing that the assays received from recent holes, drilled within the current envelope of the resource block model for the Antler deposit, have returned outstanding thicknesses and grades of mineralisation, very much in line with expectations,” NWC managing director Mike Haynes said.
“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. 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.”
Pump tests are currently being undertaken on one of six groundwater monitoring wells, which were deliberately drilled immediately around the Antler deposit without intersecting it, as part of ongoing evaluation of project-wide groundwater characteristics.