• New World Resources commences 1,500m maiden drilling at Discus prospect at Javelin project in USA
  • Discus prospect is surrounded by six, previously mined high-grade VMS deposits
  • Program follows defining a sizeable IP anomaly at the project

 

Special Report: New World Resources has begun maiden drilling at the high-priority Discus copper prospect, within its Javelin volcanogenic massive sulphide (VMS) project in Arizona, USA.

VMS deposits are often associated with copper, lead and zinc, and can also produce economic gold and silver by-products.

Late last year, the company staked new claims at Javelin after the promising discovery of a very strong Induced Polarisation (IP) chargeability anomaly at the Discus prospect.

Notably, the new claims include the Red Cloud deposit where VMS mineralisation was previously mined and the Rudkins prospect, where massive sulphides were previously discovered around 700m along strike from Red Cloud.

New World Resources (ASX:NWC) now holds a 100% interest in almost the entire 2km-long corridor that is highly prospective for VMS mineralisation that extends from the Discus copper prospect through to the Rudkins prospect.

  

Potentially a sizeable buried VMS deposit

Initially 4-6 diamond core holes, for approximately 1,500m, will be drilled to test the 1.2km x 1.0km IP chargeability anomaly, over which widespread, highly anomalous rock samples have been collected recently with assay results including:

  • 15.0% copper, 3.1% zinc and 1.16 g/t gold;
  • 8.1% copper, 49 g/t silver and 0.68 g/t gold;
  • 4.7% copper and 0.2% zinc;
  • 3.9% copper and 3.5% zinc; and
  • 3.7% copper, 180 g/t silver and 2.14 g/t gold.

Considerable chalcopyrite (copper-sulphide) has been identified at surface, immediately over and along strike from the strong IP anomaly – reinforcing the potential to discover significant VMS mineralisation at depth at this undrilled target.

The IP anomaly is also <350m along strike from the Red Cloud deposit, which is one of six known VMS deposits within 5km of the Discus copper prospect from which significant production of high-grade mineralisation has been recorded previously.

“Resource expansion is a key part of our corporate strategy – and the high-impact drill programs planned for the early part of this year – to test multiple high-priority targets – are integral to that strategy,” MD Mike Haynes said.

“The very strong, untested IP geophysical anomaly at Discus – which extends over a sizeable area of 1.2km by 1km from where assays of up to 15% copper, 3.5% zinc, 180 g/t silver and 2.14 g/t gold have been returned from surface rock samples – makes this one of our highest priority exploration targets.

“With 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.”

 

Trucking distance to Antler a bonus

Notably, Discus is just 75km from, and within potential trucking distance of, the company’s high-grade Antler copper project.

“Any mineralisation we discover could potentially be trucked to the processing plant we intend constructing 75km away at our Antler copper project,” Haynes said.

“But, of course, it would also be great to get to a position where we are evaluating a second stand-alone operation.”

An EM geophysics survey has also commenced to help define additional drill targets.

 

 

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.

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