- Javelin Minerals (JAV) increases the mineral resource estimate (MRE) for its Coogee project by 1400 per cent in tonnage and 350 per cent in contained metal
- The project’s MRE stands at 1.42 million tonnes at 1.07 g/t gold for 49,000 ounces and is based on over 19,000 metres of drilling and geological interpretation
- Javelin has also identified new mineralisation which transitions from just gold to copper‐gold in the north which has a mineralised strike of over one kilometre
- The company says it’s confident it can define additional copper-gold resources
- Company shares end the day 50 per cent in the green to close at 0.2 cents
Javelin Minerals (JAV) has updated the mineral resource estimate (MRE) for its Coogee gold project in Western Australia.
Coogee lies roughly 55 kilometres southeast of Kalgoorlie and comprises four tenements that cover a 17 square kilometre area.
The company completed an extensive 19,136-metre drilling campaign that spanned 12 months which led to the project’s first MRE update since 2014.
Now, the Coogee Gold Project has an indicated and inferred MRE of 1.42 million tonnes at 1.07 grams per tonne (g/t) of gold for 49,000 ounces at a cut-off grade of 0.5 g/t.
The MRE represents a 1400 per cent increase in tonnage and a 350 per cent increase in overall contained metal from the 2014 estimate announced by Ramelius Resources (RMS).
Javelin noted that the increase is largely based on “significant” resource extensions from its reverse circulation drilling programs and geological interpretation, but is also partially attributed to a lower cut-off grade.
In terms of mineralisation at the project, gold mineralisation extends for one kilometre along strike and remains open at depth and along strike.
Its four-phased drilling effort was also successful in outlining mineralisation that transitions to copper-gold in the northern part of the project. As a result, Coogee has a copper-gold system that spans roughly one kilometre.
“It’s very pleasing to see our new MRE for the Coogee project which confirms a highly significant increase in tonnage and contained gold from our earlier 2014 MRE,” Executive Director Mathew Blake said.
“Javelin has now successfully identified new Coogee mineralisation which transitions from just gold to copper‐gold in the north within a broader copper‐gold system now having a strike length of over one kilometre. We have confidence that additional copper‐gold resources can be defined.”
Company shares ended the day 50 per cent in the green to close at 0.2 cents.