Oh yeah, that's a great piece! Almost certainly not modern (or historic era), the oval hole doesn't bother me and while not typical of Copper Culture (OCC/Old Copper Complex) pieces which tend to be socketed it could just be a younger ancient point of an unusual style. As I understand, the copper trading networks weren't as wide during the OCC era so considering its location and style maybe it's closer to 2-3,000 years old versus 5-8,000 years old?
Regarding the oval perforation, it appears as though there was another matching hole on the other side, with the copper between it and the edge of the blade now lost. You'd have to pick the brains of those with expertise, but I own some early/middle Bronze Age arrowheads from the Mediterranean region with perforations through which sinews would be inserted and wrapped around the split end of the arrow shaft to secure it tightly. I believe that your spearhead may have been attached in the same manner; with the split end of the spear shaft bound to the point with sinews threaded through the holes and wrapped around the wood.
Here's a pic of a relevant perforated European bronze arrowhead and drawing of mounting method:
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