New World Resources (ASX:NWC) reported an increase in both the contained metal and the confidence level at its mineral resource estimate in its owned Antler copper deposit in Arizona, following an exploration drilling program and a comprehensive exploration review, according to a Monday Australian bourse filing.
The total contained copper-equivalent metal increased by around 16% to 543,000 tonnes, including a 27% increase in contained silver and a 15% increase in contained gold.
The total measured, indicated, and inferred resources for the Antler deposit now comprise 14.2 million tonnes at 1.8% grade of copper, 4.3% grade of zinc, 0.9% grade of lead, 33.7 grams per tonne grade of silver, and 0.33 g/t grade of gold.
Around 88% of the mineralization was classified in the measured and indicated categories.
It plans to complete a definitive feasibility study for the project as early as the fourth quarter.
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