Javelin Minerals Ltd (ASX:JAV) has increased the mineral resource estimate (MRE) of its Coogee copper-gold project in Western Australia by 158% compared to a previous MRE released in 2022, and based on historic drill data analysed for the play.
Coogee now contains 3.65 million tonnes at 1.08 grams per tonne of gold for 126,685 ounces of gold and 1.01 million tonnes at 0.41% copper containing 4,133 tonnes of copper metal.
Javelin has also been able to reshape its image of Coogee’s geology, ascertaining that gold mineralisation at the project extends along strike for 1.2 kilometres, carries an average width of 350 metres and extends to more than 225 metres vertically.
It is also open to the north and down dip, and has the potential to extend the known mineralisation along strike towards the northwest.
Also promising for Javelin’s future geological delineation of Coogee is its discovery of numerous untested magnetic anomalies, which have the potential to host gold-copper mineralisation.
Executive Chairman Brett Mitchell said the resource increase supported positive expectations for a project which has been little exposed to modern exploration.
“This is a strong result which provides a solid platform on which to build a very substantial gold inventory on the doorstep of the world-class St Ives Goldfield,” he said.
“The scope for growth at Coogee is clearly immense. The mineralisation is open and we have numerous compelling targets.
“Despite a well-established mineralised system and its highly desirable address, Coogee
has been exposed to virtually no modern exploration techniques.
“We have already identified numerous areas of significant known mineralisation with the potential to be quickly developed into mineral resources, and our technical team believes the Coogee deposit has substantial potential for additional resource growth along strike and at depth.
“We are now planning the next phase of extensional drilling to the west with a view to increasing the tonnage and grade of the MRE.”
Javelin is in the process of finalising its exploration program to test high priority geophysics and magnetic anomaly targets, with drilling to start in the following quarter.
Javelin has been trading at 0.2 cents.