New World Resources gets ground geophysics rolling at the Javelin VMS project

IP surveying has started over strong geochemical anomalies at New World Resources’ Javelin VMS project in Arizona to fine-tune targets ahead of maiden drilling.

With high-grade production recorded previously from six different VMS deposits over 10km of strike all around Javelin – and no exploration undertaken since 1992 – New World Resources (ASX:NWC) MD Mike Haynes says there is plenty of potential to discover additional high-grade mineralisation.

The IP survey has been commissioned to help expedite the discovery of sulphide-rich mineralisation as well as to define deeper targets that may arise from mineralisation within a geological sequence.

Great opportunity to unlock value

“We expect that it will take about a month to complete the IP survey,” Haynes explains.

“We eagerly await the results, as we intend using the IP data to fine-tune our targets in advance of the maiden drilling program we anticipate commencing shortly after all IP data are received and processed.”

Because NWC plans to build a processing plant 75km away at its flagship Antler Project, the company has an opportunity to unlock value from what may otherwise be high-grade but infrastructure-stranded mineralisation at Javelin.

“If we can successfully achieve that, we will significantly increase the value of both projects,” Haynes adds.

Looking ahead

IP surveying is expected to be completed in early July.

The data will then be processed and integrated with geological, airborne magnetic and geochemistry data so that all targets can be prioritised for an initial drilling program, which NWC plans to begin in August or September 2023.

This article was developed in collaboration with New World Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.