New World to prove up nearby Javelin to add further value to its Antler Copper Project

New World Resources believes the historical Javelin VMS project could host viable satellite targets for trucking ore to the Antler processing plant nearby.

On the back of a strong updated scoping study of its Antler copper deposit in northern Arizona, New World Resources (ASX:NWC) has zeroed in on the nearby, highly prospective Javelin VMS project as a growth opportunity where mineralisation could be trucked to the Antler processing plant.

Javelin sits about 75km southeast of Antler, in a geological belt containing six historical producing high-grade VMS deposits along more than 10km of strike extensions.

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

“No exploration has been undertaken in this belt since 1992, however we have identified many encouraging signs that suggest there is considerable potential to make significant new discoveries.”

NWC has collected about 1,100 soil samples over the entire Javelin project area and assay results have now been received, delineating numerous highly elevated multi-element geochemistry anomalies including copper, zinc, lead, silver and gold.

It also acquired low-level airborne magnetic data over the entire project area to give the explorer better-defined targets to concentrate on.

A geophysics contractor has been engaged to conduct an IP survey commencing this month in preparation for an initial drilling program of high-priority targets.

Antler now flagged to run for 13 years

Now hosting 11.4mt at a copper equivalent grade of 4.1% Cu – one of the highest in the global development pipeline – NWC has flagged Antler to run at an operating rate of 1.3mtpa over 13 years, a 30% increase on the 10-year mine life previously announced, with a 41% increase in total copper production to 381,400t on a copper-equivalent basis.

You’d think this would be enough to go on, however copper-hungry NWC reckons it could add more value by proving up additional mineralisation at Javelin to further enhance the economics of developing Antler.

“Given the strong outcomes of our recent updated scoping study, our flagship Antler copper deposit is shaping up as a compelling stand-alone development proposition,” Haynes said.

“In light of this, we have deliberately been pursuing regional acquisition and exploration opportunities that may enable us to mine satellite deposits and truck ore from those deposits to a centralised processing facility at Antler.

“This strategy would potentially enhance the economics of developing both the Antler deposit itself, as well as other proximal deposits that may otherwise be infrastructure stranded.

“We are pleased to have commenced systematic work programs over this new project area, which has already led us to delineate multiple very encouraging soil geochemistry anomalies.

“A geophysics crew is scheduled to be on-site later in June to conduct IP surveying. We expect to commence our maiden drilling program at the Javelin project shortly thereafter.”

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.