Antler Copper Project Drilling Yields Up to 10.8% Cu-Equivalent Over 10m

Reserve Definition Drilling Confirms High-Grade Mineralisation

New World Resources Limited (ASX: NWC) has successfully completed a 10-hole, 4,564-metre reserve definition drilling program at its flagship Antler Copper Project in Arizona. The program targeted the first 3-5 years of mining operations to bolster confidence in the Ore Reserves following the July 2024 Pre-Feasibility Study (PFS). The drilling consistently intersected thick, high-grade mineralisation, with standout assays including 18.6 metres at 2.8% copper, 9.4% zinc, and 41 g/t silver, and 10.2 metres at 7.7% copper and 9.4% zinc. These results underpin the project's status as one of the highest-grade copper deposits globally on a copper-equivalent basis.

Permitting Milestones Propel Project Development

Significant progress was made in the permitting process during the quarter, with the Arizona Department of Environmental Quality (ADEQ) issuing completeness determinations on two primary state permits: the Air Quality Control Permit and the Aquifer Protection Permit. These permits are critical for construction and environmental compliance, respectively. The Air Quality Control Permit is advancing through substantive review, with approval anticipated by mid-2025. The Aquifer Protection Permit application incorporates best available demonstrated control technology designs, including lined ponds and dry-stack tailings, to ensure stringent groundwater protection throughout the mine lifecycle.

Exploration Review Uncovers New Targets at Javelin Project

Alongside Antler, New World Resources has been actively exploring its Javelin VMS Project, also in Arizona. A comprehensive review of 2024 drilling and geophysical data has identified untested targets, particularly around the recently acquired high-grade Pinafore Deposit. Initial drilling at Pinafore has intersected encouraging mineralisation, and an induced polarisation survey completed in December 2024 is expected to refine future drill targets. This exploration upside could extend the company's resource base and complement Antler's development.

Funding Discussions Accelerate Amid Robust Project Fundamentals

New World Resources has intensified engagement with potential development financiers, including precious metals stream providers and strategic partners. This reflects confidence in Antler's robust financial metrics, low technical risk, and the favourable political environment for critical minerals projects in the United States. The company aims to secure development financing in parallel with ongoing DFS and permitting activities throughout 2025, optimizing project delivery and shareholder value.

Outlook: Definitive Feasibility Study and Community Engagement

The Definitive Feasibility Study (DFS) for Antler remains on track for completion by the fourth quarter of 2025. Workstreams include updating the Mineral Resource model with new drilling data, metallurgical testwork, and hydrogeological modelling. Concurrently, New World has initiated a Tribal Engagement program, fostering relationships with local Indigenous communities and regulators, including the Arizona State Mine Inspector. These efforts are crucial for securing social licence and advancing the project responsibly.