Maiden MRE out for Antler today. Safe to say it exceeded expectations. High grade & solid quantity.

7.7mt @ 2.2% Cu or a 3.9% Cu equivalent. Anything over 1.5% is pretty good going.

This has alot of room to grow, another dozen holes completed with assay results pending. Coy stated they wanted to get the MRE out so they could start working through enviro approvals etc.

I judge Antler to be one of the lowest risk's of regulatory approval you will come across, due to being located in Arizona, USA & the brownfield nature of the site (covered in previous straws). In saying that, the permitting risk is never zero.

Canaccord has written it up, maintains a buy at 30c target (for whats it worth haha).

Highlights

? Robust maiden high-grade JORC Mineral Resource Estimate (MRE) completed for the Antler Copper Deposit in Arizona, USA.

• At a 1.0% Cu-equivalent cut-off, the maiden MRE comprises:

7.7Mt @ 2.2% Cu, 5.3% Zn, 0.9% Pb, 28.8g/t Ag and 0.18g/t Au

(7.7Mt @ 3.9% Cu-equivalent*)

• 74% of the maiden MRE has been classified in the high-confidence “Indicated” category, 

demonstrating the robust nature of the Antler Deposit. 

• The Company believes there is considerable potential to significantly expand the current 

Resource: 

• Mineralisation at the Antler Deposit remains completely open:

o At depth, along the entire 500m of strike that has been drilled to date; and

o To the south – where strong undrilled geophysical anomalies are high-priority targets for Resource expansion drilling.

• Assay results are pending for 12 completed drill-holes, which have not been included in the maiden MRE.

• Three rigs continue to drill at Antler to further expand the Resource.

• The maiden MRE will now be integrated into mine design work for the preparation of mine permit applications.

NWC is proving out the resource at its high grade Antler copper deposit sitting on private land in the teir 1 mining jurisdiction of Arizona (Heartland of copper production in USA).

Often the best place to explore for precious or base metals are in the proximity of known high grade mineralisations and that is exactly what NWC have done. Antler is a historical UG mine. 

NWC have completed well over 20000m of drill at Antler, finding new zone oh high grade mineralisation, extending the orebody, with assay results ann regularly. JORC is expected later this year.

JORC is expected to be over 8mt @ 2-4% cu with the potential to go over 10mt. Plans are to begin a PFS late this late this year.

Prudent operators, spending large majority of their funds on th drill bit, as opposed to lifestyle with Administration & corporate costs under 10% of Exploration spend. Which say's to me they beleive the project will be feasible to move into production.

It has a decent register with insto support. Recently raised $20m at 10c, at start of May which was fully taken up by insto's and soph's. Money to go towards drilling, metalurgical testwork and JORC determination.

Why i own it? I beleive NWC has a quality resource, in one of the best jurisdictions in the world along with an experienced team focused on proving it out & moving into production. Drill results continue to expand the resource at high grades of cu, which is a commodity that i believe will be in high demand moving forward.