Antler Copper Resource Grows to 14.2Mt at 3.8% CuEq with 88% Measured & Indicated
New World Resources has announced a significant 25% increase in the Antler Copper Project's mineral resource, enhancing geological confidence and contained metals, setting a robust stage for production targeted in 2027.
- Antler Mineral Resource Estimate increased to 14.2 million tonnes at 3.8% CuEq
- 88% of resource now classified as Measured and Indicated, reflecting high geological confidence
- Contained copper equivalent metal increased by 16%, with silver up 27% and gold up 15%
- Antler Sulphide Domain resource grew 11% to 12.7 million tonnes at 4.1% CuEq
- Definitive Feasibility Study underway, with permits expected by February 2026 and production planned for 2027
Resource Growth and Geological Confidence
New World Resources Limited (ASX: NWC) has delivered a pivotal update to its Antler Copper Project in northern Arizona, reporting a 25% increase in its Mineral Resource Estimate (MRE) to 14.2 million tonnes at a robust 3.8% copper equivalent (CuEq). This substantial growth is accompanied by a marked improvement in geological certainty, with 88% of the resource now classified within the high-confidence Measured and Indicated categories.
The update reflects the successful integration of new mineralised zones and comprehensive exploration drilling completed through November 2024. Contained copper equivalent metal has risen by approximately 16% to 543,000 tonnes, alongside a 27% increase in silver and a 15% uplift in gold ounces, underscoring the project's enhanced economic potential.
Focus on the Antler Sulphide Domain
The Antler Sulphide Domain, which underpins the current mine plan, has seen an 11% increase in tonnage to 12.7 million tonnes at 4.1% CuEq. Notably, 90% of this domain's mineralisation is now classified as Measured and Indicated, with 36% as Measured Resources expected to support the initial 3–4 years of mining. This high-confidence inventory provides a solid foundation for mine development and operational planning.
New World’s Managing Director, Nick Woolrych, emphasised the significance of the update: "The new Resource continues to demonstrate that Antler is not only one of the highest-grade copper projects globally but is also exceptionally well understood as we progress towards production in 2027. The increased tonnage and geological certainty position us strongly to finalise our Definitive Feasibility Study and advance financing and permitting processes throughout 2025."
Advancing Towards Production
The updated MRE is a critical milestone supporting the ongoing Definitive Feasibility Study (DFS), scheduled for completion by Q4 2025. The DFS will incorporate the enhanced resource base, detailed metallurgical testwork, geotechnical drilling, and mine design updates. Permitting is on track, with all necessary approvals expected by February 2026, paving the way for first production targeted in 2027.
The Antler Project’s location benefits from established infrastructure and proximity to mining-friendly jurisdictions, with operations based in Kingman, Arizona. The project’s high-grade Volcanogenic Massive Sulphide (VMS) deposit offers a compelling opportunity amid rising global demand for copper, driven by the energy transition.
Economic Outlook and Financing
Previous Pre-Feasibility Study (PFS) outcomes highlight the project’s strong financial metrics, including a post-tax NPV of US$498 million and an IRR of 30.3%, supported by steady-state annual production averaging 30,100 tonnes CuEq. The resource upgrade is expected to enhance the DFS’s life-of-mine plan confidence, broadening financing options ranging from commercial debt to precious metals streaming agreements.
Exploration remains active, with the Antler B Lode identified as a promising target for resource expansion near planned underground infrastructure. The deposit remains open at depth and along strike, suggesting further upside potential.
Technical Rigor and Reporting Standards
The updated resource estimate adheres to the JORC Code (2012 Edition) and incorporates data from 295 drill holes totaling over 79,000 metres. The estimation employed advanced geological modelling and inverse distance cubed interpolation, with rigorous QA/QC protocols ensuring data integrity. Metallurgical recoveries factored into copper equivalent calculations are based on ongoing testwork, reflecting realistic extraction scenarios.
New World Resources continues to demonstrate transparency and technical excellence, with the Competent Person’s report affirming the resource’s classification and confidence levels suitable for feasibility-level studies.
Bottom Line?
With a strengthened resource base and high-grade confidence, New World Resources is poised to unlock Antler’s full potential as a premier copper producer by 2027.
Questions in the middle?
- How will the updated resource impact the final mine plan and reserve estimates in the DFS?
- What financing structures will New World pursue to fund development and construction?
- Could further exploration at the Antler B Lode materially extend the mine life or production profile?