New World Resources (ASX:NWC) has received ‘highly encouraging’ assays that further enhances the potential of its Javelin Project in Arizona, US.
The $90.73 million market capitalisation company conducted a systematic soil sampling program that shows new, ‘very strong’ copper, zinc, lead, gold, and silver soil geochemistry anomalies defined over 1,300m of strike within the project.
New World reports assays up to 955 parts per million (ppm) copper and 2,000ppm zinc were returned.
New World says there is considerable potential to uncover more ‘high-grade’ mineralisation within Javelin. The company plans to conduct further exploration, as part of its district-wide growth strategy.
An induced polarisation (IP) geophysical survey is planned to be carried out, which will help define areas where sulphide-rich mineralisation could be concentrated. This is expected to occur during Q2 2024.
The company also plans to expand its ongoing drill program at Javelin to drill several additional holes under the Red Cloud deposit.
Managing Director Mike Haynes says the company is ‘pleased’ to have delineated new, strong, and continuous multi-element soil geochemistry anomalies over 1.3km, including the entire trend.
“As we already have a diamond core rig operating there to test the very strong IP anomaly that we delineated recently at the Discus prospect, we are going to expand the program so that we drill at least a couple of holes under the Red Cloud deposit — as, historically, ore grading 6.5% copper and 2.7% zinc was mined from there and, with only 200 tonnes mined previously, this is a very good opportunity to discover additional mineralisation.
While we do so, we will prepare to systematically cover this new 1,300m-long geochemically anomalous trend with IP — as the IP data we acquired late last year at Javelin revealed the very exciting Discus Anomaly.
With multiple strong indicators of high-grade VMS mineralisation now evident over such a large area, I anticipate we’ll be undertaking considerably more drilling in the near term.”
The company collected 170 soil samples on a 200m by 50m grid over and around the Red Cloud deposit and Rudkins prospect, within the Javelin project.
New World Resources is an Australian company focused on exploring and developing mineral resource projects in North America.
Write to Aaliyah Rogan at Mining.com.au
