Announcement Date: 2022-07-11
Announcement Type: Scoping Study
Announcement Code: JORC
Company name: New World Resources Ltd.
Project name: Antler
Location: United States
Commodities: Gold,Silver,Copper,Lead,Zinc
Highlight: Scoping Study results incl. post-tax NPV (7%) of US$524.9M & IRR of 42.0%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: New World Resources Limited (“NWC”, “New World” or the “Company”) is pleased to announce the results of a Scoping Study, completed by independent consultants, into the potential development of the high-grade, 100%-owned Antler Copper Deposit in northern Arizona, USA (“the Antler Project” and “Scoping Study”). This initial evaluation has focused on the potential development of the mineralisation that was defined in New World’s maiden JORC Mineral Resource Estimate (“MRE”) for the Antler Copper Deposit, announced in November 2021 (“November 2021 Resource”). At a 1.0% Cu-equivalent cut-off, Indicated and Inferred Resources total Since the November 2021 Resource was declared, the Company has continued to drill to expand and increase the confidence levels of the mineral resource base. While exceptional intersections of mineralisation have been (and continue to be) reported from this subsequent drilling, these additional results have not yet been incorporated into an updated MRE. Accordingly, the Scoping Study has been based on the November 2021 Resource. Expansion of the mineral resource base and/or increasing the confidence levels of the existing mineral resource base may have a positive impact on the economics of developing the Antler Project. This may be achieved by defining “Measured” or additional “Indicated” resources; by extending the life of the mining operation and/or by facilitating an increase in optimal throughputs.
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