BASE METALS

New World's drilling set to have 'materially positive impact' on copper resource

NEW World Resources expects latest drill results from its Antler ground in Arizona to have a "materially positive impact" on the resource base.

 New World looking at more copper blue sky at Antler, Arizona

New World looking at more copper blue sky at Antler, Arizona

A new resource estimate is expected in "coming months", with the current resource number being 7.7 million tonnes grading 2.2% copper and 5.3% zinc (plus lead, silver and gold) - for a claimed 3.9% copper equivalent grade.

Recent hits included 18.2m at 2% copper and 3.4% zinc (plus lead silver and gold) from 988m downhole, which New World said was equivalent to 3.4% copper.

True withs of its recent drilling were put at 75-85% of the downhole interval.

Antler is at the prefeasibility stage.

New World's scoping work identified an operation costing US$201 million to build for annual production of an average of 15,350t of copper-in-concentrate.

Shares in New World were up 3% to A3.2c in morning trade, capitalising the company at about $51 million.

New World started the recently completed June quarter with about $8.7 million cash. 

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