| Announcement Date: | 2022-11-28 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | New World Resources Ltd. |
| Project name: | Antler |
| Location: | United States |
| Commodities: | Gold,Silver,Copper,Lead,Zinc |
| Highlight: | Updated Resource Estimate for Project |
| 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 report a substantial increase in the JORC Mineral Resource Estimate (MRE) for its 100%-owned Antler Copper Deposit in northern Arizona, USA (“the Antler Project”) following 12 months of successful exploration drilling. The updated JORC MRE substantially increases the high-grade resource base at the project, cementing its position as one of the most significant new high-grade VMS copper projects globally, and positioning it to advance rapidly towards development with an updated Scoping Study due in Q1 2023 followed by a Pre-Feasibility Study (“PFS”) by mid-year. This will allow New World to target the resumption of mining operations at Antler and position the Company to become a high-grade copper producer – ready to take advantage of the expected surge in demand for the metal as a critical input for the global energy transition. |
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