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- Javelin Minerals (JAV) places its shares in a trading halt pending an upcoming capital raising announcement
- The company will remain in the halt until the announcement is released which is expected on February 7
- Yesterday, Javelin announced it had intersected high-grade gold from the Eastern Trend and wide gold intersections along the Main Trend at its Coogee Project in WA
- Grades peaked at 2.18g/t gold with three of the holes confirming the continuation of the mineralised shear zone
- Shares in Javelin have been trading at 0.2 cents since January 16
Javelin Minerals (JAV) has placed its shares in a trading halt pending an upcoming capital raising announcement.
The company will remain in the halt until the announcement is released which is expected on February 7.
Javelin is yet to disclose how much it intends to raise or what it will use the funds for once received.
Yesterday, Javelin announced it had intersected high-grade gold from the Eastern Trend and wide gold intersections along the Main Trend at its Coogee Project in WA.
Grades peaked at 2.18 grams of gold per tonne (g/t) with three of the holes confirming the continuation of the mineralised shear zone.
Deeper drilling will now be undertaken to determine the significance of the mineralisation and to test the latest model.
Prior to this, Javelin revealed it had completed a low-level aeromagnetic and radiometric survey at the Mt Ida – Ida Valley Gold Project in Western Australia.
The survey covered two granted exploration licences and five exploration licence applications and the data is currently being processed by Southern Geoscience Consultants.
Once received, the data will provide information on the location of previously untested lithium-tantalum-rich pegmatite intrusions as well as discrete mafic and ultramafic intrusives.
Shares in Jaelin have been trading at 0.2 cents since January 16. The company has a $13.17 million market cap.
