{"id":5406,"date":"2024-02-05T22:34:10","date_gmt":"2024-02-05T22:34:10","guid":{"rendered":"https:\/\/economicherald.net\/?p=5406"},"modified":"2024-02-05T22:34:10","modified_gmt":"2024-02-05T22:34:10","slug":"new-world-resources-unearths-compelling-antler-look-a-like-target-for-potential-resource-expansion","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5406","title":{"rendered":"New World Resources unearths compelling Antler look-a-like target for potential resource expansion"},"content":{"rendered":"<p>New World Resources has identified a new target along strike of Antler<br \/>\n\u2018Bullhorn\u2019 is an Antler look-a-like with similar geological and geophysical characteristics<br \/>\nA second drill rig will mobilise to site shortly to test the target <\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: A very strong coincident IP chargeability\/magnetic anomaly has been delineated along strike from New World Resources\u2019 very high-grade 11.4Mt Antler copper Deposit in Arizona, USA.<\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/new-world-resources-nwc\/\"><strong>New World Resources (ASX:NWC)<\/strong><\/a> has unearthed a new, undrilled copper target with identical geological and geophysical characteristics to its Antler copper deposit, providing strong evidence that it may coincide with VMS mineralisation.<\/p>\n<p>The identification comes after a drone magnetic survey and ground induced polarisation (IP) survey was commissioned over newly acquired mineral rights.<\/p>\n<p>A very strong coincident IP chargeability\/magnetic anomaly has been delineated, directly along strike and 350m southwest from Antler.<\/p>\n<p>The \u2018Bullhorn\u2019 target is characterised by a 400m long strong magnetic anomaly with a coincident 400m-long IP chargeability anomaly, located in the same geological sequence as Antler but the source of anomalism is buried beneath alluvial cover.<\/p>\n<p>NWC plans to mobilise a second drill rig to expedite testing for potential resource expansion.<\/p>\n<p>\u00a0<\/p>\n<h2>Numerous quality exploration targets<\/h2>\n<p>\u201cBullhorn has many similarities to the Antler deposit and given that VMS deposits typically occur in clusters, this undrilled target represents an exceptional opportunity to make a new discovery in the near-mine environment,\u201d NWC managing director Mike Haynes says.<\/p>\n<p>\u00a0<\/p>\n<p>The Total Magnetic Intensity data acquired over the Antler Copper Deposit and the look-a-like Bullhorn Target 400m to the south-west. Pic: Supplied (NWC)<\/p>\n<p><em>\u00a0<\/em><\/p>\n<p>\u201cWe are very fortunate to have so many quality exploration targets to test.<\/p>\n<p>\u201cIn order to expedite our exploration efforts, we intend mobilising a second drill rig as quickly as possible \u2013 so we can continue to test our other high-priority targets while also commencing testing of the very high-priority Bullhorn Target.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Drilling to begin at Bullhorn shortly <\/strong><\/h2>\n<p>NWC recently commenced a drilling program to test the high-priority Discus Copper Prospect at the Javelin VMS Project, 75km to the south-east of Antler.<\/p>\n<p>With drilling expected to proceed there for at least several months more, NWC intends to mobilise a second drill rig to the Antler project as soon as practicable.<\/p>\n<p>In addition to testing the Bullhorn Target, this second rig will be used to test numerous additional targets including the Cowhorn magnetic anomaly, the Longhorn magnetic target, and extensions to Antler.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Initial mine permit submitted <\/strong><\/h2>\n<p>This news comes hot on the heels of NWC submitting a Mine Plan of Operations to the Bureau of Land Management (BLM) \u2013 the Federal government agency that regulates activities on all Federal lands in the vicinity of the Antler project.<\/p>\n<p>The MPO is one of the approvals needed to develop the project and is expected to be the longest lead-time component of NWC\u2019s mine permitting process.<\/p>\n<p>The permit application is based on the results of a scoping study completed in May 2023, which forecast a pre-tax NPV of $1.2 billion and IRR of 40.2% from mining some 15.4Mt of underground ore at a rate of 1.3Mtpa over an initial 13-year period.<\/p>\n<p>Alongside the development of the mine, NWC hopes to build an adjacent stand-alone processing plant which will enable the company to capitalise on the rising global demand for copper.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with New World Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/new-world-resources-unearths-compelling-antler-look-a-like-target-for-potential-resource-expansion\/\">New World Resources unearths compelling Antler look-a-like target for potential resource expansion<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>New World Resources has identified a new target along strike of Antler \u2018Bullhorn\u2019 is an Antler look-a-like with similar geological and geophysical characteristics A second <a href=\"https:\/\/economicherald.net\/?p=5406\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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