New World Resources unveils promising results from initial exploration at Javelin VMS project

Promising results have been returned from initial exploration by New World Resources (ASX: NWC) at the Javelin volcanogenic massive sulphide (VMS) project in northern Arizona.

Multiple strong soil geochemical anomalies were delineated at the project, which sits 75 kilometres south-east of the company’s high-grade Antler copper discovery in a geological belt containing six previously-mined VMS deposits.

While no exploration has been conducted along the belt since 1992, the company has seen “encouraging signs” which suggest there is considerable potential to make new discoveries.

During the initial exploration phase, New World collected 1100 soil samples over areas where historic workings and mineralisation had been previously reported.

Assays delineated numerous highly-elevated, multi-element anomalies including copper, zinc, lead, silver and gold.

Promising satellite deposit

Managing director Mike Haynes said Javelin was shaping up to be a promising satellite deposit which could leverage Antler’s infrastructure.

“We have assembled a substantial land position at Javelin, in a geological district where high-grade VMS base metal mineralisation has previously been mined from six different deposits,” he said.

“We have deliberately been pursuing regional acquisition and exploration opportunities which may enable us to mine satellite deposits and truck ore from those deposits to a centralised processing facility at Antler.”

He said the strategy would potentially enhance the economics of developing Antler and nearby deposits which may otherwise be “infrastructure stranded”.

Airborne drone survey

New World has completed a low-level airborne drone survey over the Javelin project area and identified numerous discrete magnetic anomalies.

These will be targeted by ground-based induced polarisation surveys this month to assist in the discovery of sulphide-rich mineralisation below or adjacent to the anomalies.

Results are expected to be available later this year and will be integrated with geological, airborne magnetic and geochemistry data to prioritise targets for initial testing prior to the start of formal drilling programs.