{"id":2149,"date":"2023-11-23T02:33:41","date_gmt":"2023-11-23T02:33:41","guid":{"rendered":"https:\/\/economicherald.net\/?p=2149"},"modified":"2023-11-23T02:33:41","modified_gmt":"2023-11-23T02:33:41","slug":"could-be-a-sizeable-deposit-new-world-resources-gets-drills-spinning-at-discus","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2149","title":{"rendered":"\u2018Could be a sizeable deposit\u2019: New World Resources gets drills spinning at Discus"},"content":{"rendered":"<p>New World has been granted a permit to undertake drilling at the very high-priority Discus copper prospect within the Javelin project<br \/>\nAn initial 4-6 holes for 1,500m is planned over a \u201cvery strong\u201d IP anomaly<br \/>\nNWC will put a requisite reclamation bond in place, so drilling can begin in late-December 2023\/early-January 2024<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong><strong> New World Resources has been granted a permit to undertake a maiden drilling program at one of the company\u2019s highest priority exploration targets, 75km from its 11.4Mt Antler copper project. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/new-world-resources-nwc\/\">New World Resources (ASX:NWC)<\/a> holds a contiguous series of mining claims covering 15.7km2 (3,900 acres) in a location 75km to the southeast of its high-grade Antler deposit in Arizona, an area referred to as the Javelin VMS project.<\/p>\n<p>These mining claims cover roughly 10km of strike extensions of the geological sequence that hosts numerous high-grade Volcanogenic Massive Sulphide (VMS) deposits that are of similar age and style to the Antler Deposit.<\/p>\n<p>VMS deposits are often associated with copper, lead and zinc, and can also produce economic gold and silver by-products.<\/p>\n<p>Early-stage exploration programs kicked off at Javelin in early 2023 and have resulted in the delineation of very strong IP anomalism over a sizeable area of 1.2km by 1km.<\/p>\n<p>Significant copper sulphide mineralisation was identified at surface during recent reconnaissance mapping, reinforcing the potential to discover VMS mineralisation at depth at this undrilled target.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Approvals to drill <\/strong><\/h2>\n<p>Approvals are in the bag to commence drilling this target, with plans in place for an initial 4-6 hole program for 1,500m.<\/p>\n<p>\u00a0<\/p>\n<p>Plan view showing location of rock samples and select assay results collected recently over the strong Discus IP Anomaly at the Javelin VMS project. Pic via New World Resources<\/p>\n<p>\u00a0<\/p>\n<p>The program will test the IP anomaly over which widespread, highly anomalous rock samples have been collected recently.<\/p>\n<p>Assay results include:<\/p>\n<p>15% copper, 3.1% zinc and 1.16 g\/t gold;<br \/>\n8.1% copper, 49 g\/t silver and 0.68 g\/t gold; and<br \/>\n4.7% copper and 0.2% zinc.<\/p>\n<p>NWC says it will put a requisite reclamation bond in place, so drilling can kick off in late-December 2023\/early-January 2024.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>\u2018Could be a sizeable deposit\u2019<\/strong><\/h2>\n<p>\u201cWe are very pleased to have been granted a permit to drill at the very high-priority Discus copper prospect within the Javelin Project \u2013 a key part of our regional growth pipeline,\u201d NWC managing director Mike Haynes says.<\/p>\n<p>\u201cWe were very excited when we delineated a very strong IP geophysical anomaly, that extends over a sizeable area of 1.2km by 1.0 km.<\/p>\n<p>\u201cThe priority to test this target was increased even further when we recently received assays of up to 15% copper from rock samples collected immediately over and along strike from the IP anomaly.<\/p>\n<p>\u201cWith previous production of high-grade mineralisation from six VMS deposits, all within 5km of our Discus Prospect, we have multiple indicators that suggest that the source of the IP anomaly could be a sizeable but buried VMS deposit.<\/p>\n<p>\u201cIf this proves to be a big deposit, we will happily look to develop a second mining operation,\u201d he says.<\/p>\n<p>Haynes says if the NWC discovers a modest amount of high-grade mineralisation, the company expects to be in a position to monetise that too.<\/p>\n<p>\u201cWe could readily truck material from Javelin to the processing plant we intend constructing 75km away at our Antler copper project,\u201d he says.<\/p>\n<p>\u201cIt would be a win-win for us, either way.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Drilling to begin within 3-4 weeks <\/strong><\/h2>\n<p>A permit to drill for an initial 2-year period has now been granted.<\/p>\n<p>NWC has immediately commenced the requisite process of submitting a bond to the Federal Government to cover the estimated cost of reclamation. Drilling can begin after this bond is registered, which is expected to take 3-4 weeks.A diamond core drilling rig is currently operating at Antler and will be mobilised to the Javelin project to undertake initial drilling as soon as the reclamation bond is registered.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with New World Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/could-be-a-sizeable-deposit-new-world-resources-gets-drills-spinning-at-discus\/\">\u2018Could be a sizeable deposit\u2019: New World Resources gets drills spinning at Discus<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>New World has been granted a permit to undertake drilling at the very high-priority Discus copper prospect within the Javelin project An initial 4-6 holes <a href=\"https:\/\/economicherald.net\/?p=2149\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2150,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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