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New World Resources (“NWC”, “New World” or the “Company”
is pleased to report the identification of significant additional gold mineralization associated with the footwall alteration and stringer zone, a domain of the Antler Deposit which has been extensively explored for its base metal potential. As a result of the ongoing exploration review, recent sampling and analysis of drill core from outside the previously reported massive sulphide domains and in the newly identified stringer zone has revealed elevated gold grades over 550m of strike and 1000m dip extent, all of which falls outside the current mine plan. To date, the best gold intercepts identified in the alteration zone include: ANT0023: 7.0m @ 2.03 g/t Au, 3.95m @1.53 g/t Au, and 1.85m @ 0.68 g/t Au; ANT0009 : 1.17m @ 7.53 g/t Au; ANT0017: 4.35m @ 1.84 g/t Au and 2.50m @ 2.28 g/t Au; ANT0055: 3.30m @ 2.18 g/t Au; ANT0022: 4.0m @1.70 g/t Au, and 3.2m @ 1.23 g/t Au ; and, ANT0077 : 0.9m @ 3.46 g/t Au, 2.0m @ 3.69 g/t Au, and 2.0m @ 1.38 g/t Au. The Company is currently undertaking further work to define the extent, continuity, and grade of the gold mineralization, and how any such mineralisation may be included in future mine plans. This includes additional sampling and analysis, as well as geological modelling, all of which will be incorporated into the Resource model update currently being developed. Additional alteration zone assays will be reported in Q1 2025 when assays are completed. Background The Antler Resource model has evolved from the initial two-lod
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This press release from New World Resources (NWC) announces the discovery of significant gold mineralization in the footwall alteration and stringer zone of the Antler Deposit, which had been primarily explored for its base metal potential. The company is reporting elevated gold grades in drill core samples taken from areas outside the previously known massive sulphide domains, which are located in a newly identified stringer zone. This zone is of particular interest because it falls outside the current mine plan, suggesting potential for resource expansion.
Key Points from the Announcement:- New Gold Discovery:
- The company has identified gold mineralization over a 550-meter strike and 1000-meter dip extent. This discovery is outside of the current mine plan, meaning it could significantly expand the potential of the deposit, provided it can be integrated into future mine designs.
- High-Grade Gold Intercepts:
- Several gold intercepts have been reported from different drill holes, including:
- ANT0023: 7.0m @ 2.03 g/t Au, 3.95m @ 1.53 g/t Au, 1.85m @ 0.68 g/t Au
- ANT0009: 1.17m @ 7.53 g/t Au (high-grade)
- ANT0017: 4.35m @ 1.84 g/t Au, 2.50m @ 2.28 g/t Au
- ANT0055: 3.30m @ 2.18 g/t Au
- ANT0022: 4.0m @ 1.70 g/t Au, 3.2m @ 1.23 g/t Au
- ANT0077: 0.9m @ 3.46 g/t Au, 2.0m @ 3.69 g/t Au, 2.0m @ 1.38 g/t Au
Some of these intercepts, particularly ANT0009 and ANT0077, show high-grade gold, which may be of interest for future mining plans.
- Ongoing Exploration and Future Plans:
- New World Resources is continuing to expand its understanding of the extent, continuity, and grade of the gold mineralization, with plans to integrate these results into the resource model update that is in progress.
- Additional sampling and geological modeling are underway, with assay results from further exploration expected in Q1 2025.
- Potential Implications:
- The discovery of additional gold mineralization outside the existing mine plan opens up possibilities for extending the mine life, enhancing the economics of the project, and increasing the total resource.
- The gold intercepts, especially those with higher grades, could improve the overall attractiveness of the deposit for investors and stakeholders, depending on how well the company can demonstrate the continuity and economic viability of the gold zone.
- Incorporation into Resource Model:
- As exploration continues, these gold intercepts and additional assays will be integrated into the updated Resource model. This model will help the company assess whether the newly discovered gold zone could be incorporated into future mining operations.
Summary:This announcement from New World Resources is a positive update, as it highlights new gold mineralization that has the potential to add significant value to the Antler Deposit. The company's ongoing exploration efforts and future assays will help clarify the extent of the gold mineralization, and further analysis will determine whether these discoveries can be included in future mine plans. This discovery may improve the overall resource base and economics of the project if these high-grade zones are confirmed to be continuous and commercially viable.
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