In this paper, we numerically demonstrate a near-infrared negative-index metamaterial (NIM) slab consisting of multiple layers of perforated metal-dielectric stacks and exhibiting low imaginary part of index over the wavelength of negative refraction. The effective index is obtained using two different numerical methods and found to be consistent. Backward phase propagation is verified by calculation of fields inside the metamaterial. These results point to a new design of low loss thick metamaterial at optical frequencies.
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