New World Resources drilling success

New World Resources (ASX:NWC) has completed a successful reserve upgrade drilling program at its Antler Copper Deposit in Arizona, USA. The program revealed exceptionally thick and high-grade mineral assays, enhancing the geological model's robustness and increasing confidence in the mine's initial operational years. The final drill hole returned an impressive intercept of 18.6 meters at a 5.9% copper-equivalent grade.

Outlook for New World's copper project

New World Resources has made significant strides with the completion of its reserve upgrade drilling at the Antler Copper Deposit, highlighting thicker and higher-grade mineral resources than anticipated. The drilling program consisted of 10 holes, resulting in improved resource confidence and potential upgrades to the 'Measured' category in the next JORC update, expected in Q1 2025. The project, with a current JORC Mineral Resource Estimate of 11.4Mt at 4.1% Cu-equivalent, stands as one of the highest-grade copper deposits globally. The company is preparing for a Definitive Feasibility Study and aims for production by 2027, with ongoing exploration to expand the resource base and continued support for permitting processes. New World's strategic focus on this project reflects its ambition to leverage the deposit's economic potential while ensuring alignment with regulatory requirements and development goals.

Executive commentary on drilling outcomes

The program significantly exceeded expectations, providing confidence to proceed to a Definitive Feasibility Study (DFS) and development.