Javelin Minerals prepares to launch drilling campaign at Coogee

Javelin Minerals is preparing to carry out exploration drilling at its Coogee gold-copper project
Drilling will seek to expand and upgrade existing resource and test prospective magnetic anomalies
Negotiations advanced with driller for a drilling-for-equity contract

Special Report: Javelin Minerals is preparing the run-up to launch exploration drilling at its brownfields Coogee gold-copper project near Kalgoorlie, Western Australia, in the December quarter.

The combination of aircore, reverse circulation and diamond drilling will seek to extend known mineralisation along strike and below the main Coogee pit as well as test numerous gold-copper extensions along identified magnetic ‘bullseye’ targets to the northeast and west of the Mineral Lease.

Negotiations with a leading Kalgoorlie drill contractor for a drilling-for-equity contract are well advanced.

Javelin Minerals’ (ASX:JAV) move to start drilling comes on the heels of the recent 158% resource upgrade for Coogee to 3.65Mt grading 1.08g/t gold, or 126,685oz of contained gold.

The project, which is about 55km south of Kalgoorlie and immediately adjacent to the rich St Ives goldfield, also has a copper resource of 1.01Mt at 0.41% copper – or 4,133t of contained metal.

“Javelin Minerals is pleased to announce that we have commenced a detailed drilling program over our flagship project, Coogee in WA,” JAV executive chairman Brett Mitchell said.

“Recent work in the project area has delineated significant walk-up drill targets yet to be systematically drill tested.

“We will be testing the recently identified gold-copper zones within the granted mining lease hosting the Coogee gold-copper deposit along strike and depth.”

Javelin, ASX, JAV, Coogee, Gold, Project — Magnetic image with new drill target areas. Pic: Javelin Minerals

Drill program

The Coogee project, which has not been exposed to systematic drilling since 2014 or any modern exploration techniques (until a recent geophysics campaign conducted by JAV), remains open to the northeast and downdip.

There is strong potential to extend the known mineralisation along strike towards the northeast.

Adding further interest, numerous untested ‘bullseye’ magnetic anomalies have now been identified as having the potential to host gold-copper mineralisation.

JAV will focus on drilling seven high priority targets below the Coogee deposit and the surrounding untested geophysical anomalies to test gold-copper mineralisation as well as follow-up on anomalous gold mineralisation delineated through historical aircore and RC drilling.

The program seeks to increase overall resource tonnage and grade of the resource as well as delineate further gold extensions below the current pit.

It will also test the large magnetic anomaly ~300m north of the Coogee pit and follow up on historical gold intersections on the western flank of the mineral lease, some of which coincide with magnetic anomalies.

This article was developed in collaboration with Javelin Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.