Javelin is just one project in the company’s copper portfolio which also includes the high grade Antler flagship, where NWC recently signed a binding agreement whereby UK-listed Trident Royalties will provide $11 million in exchange for a 0.9% NSR royalty on future metal production .
The move to stake new claims over all available adjoining prospective areas comes after the company identified a very strong Induced Polarisation (IP) chargeability anomaly at the Discus copper prospect at Javelin.
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.
VMS deposits are often associated with copper, lead and zinc, and can also produce economic gold and silver by-products.
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.
Red Cloud is one of a cluster of six VMS deposits that are all located within 10km of each other, where production of high-grade mineralisation has been reported previously.
“We were attracted to the Javelin Project area because there had historically been high-grade production from six different VMS deposits, all located within 10km of each other,” NWC MD Mike Haynes said.
“So, we are very pleased to have now incorporated one of those six deposits – the very high-grade Red Cloud deposit – into the extents of this rapidly emerging project.
“We now hold a 100% interest in a deposit where previous production averaged very high grades of 6.4% copper, 2.6 g/t gold, 2.7% zinc and 23.6 g/t silver.
“And high-grade mineralisation is what we are looking for!
