Javelin Minerals is 150 metres into a deep diamond hole aimed at testing an untested magnetic anomaly beneath its Coogee gold-copper resource in Western Australia. No assay results have been reported, but the drilling could clarify whether shallow mineralisation is linked to a larger intrusive system at depth.
- Coogee North hole reaches 150m on schedule
- Magnetic target expected from approximately 550m to 800m
- Two-hole program planned at Coogee North and Coogee West
- WA Government funding is co-funding the drilling
- Existing resource contains 127,000oz of gold and 4,122t of copper
Coogee North hole advances toward deep magnetic target
The key number in Javelin Minerals Ltd (ASX:JAV)’s latest update is 550 metres: that is the approximate depth at which the company expects its first deep diamond hole to begin testing a large modelled magnetic anomaly at the Coogee North target in Western Australia. The hole has reached 150 metres and is drilling ahead of schedule.
Javelin plans to take the hole to between 800 and 1,000 metres, with the target zone expected to extend down to roughly 800 metres. The company has not reported an intersection, assay result or discovery. For now, the drilling is testing a geological idea rather than confirming additional mineralisation.
Two intrusive targets sit beneath shallow mineralisation
The five-to-six-week campaign will also test Coogee West, the second of two major intrusive gold-copper targets. Both anomalies are associated with coincident gold-copper and gold anomalism in historic shallow drilling, while the large magnetic bodies themselves have not previously been tested by deep drilling.
Javelin says the targets are prospective because shallow mineralisation at Coogee North has previously been associated with magnetite in the alteration. The Coogee North anomaly sits directly below most of the existing Coogee North gold-copper Mineral Resource, creating a clear geological question: whether the shallow mineralisation is connected to a larger source at depth.
Existing Coogee resource provides the exploration base
The Coogee Gold Project, 55 kilometres south-east of Kalgoorlie and held under a granted Mining Lease, carries a July 2024 gold resource of 3.65 million tonnes at 1.08 grams per tonne for 126,685 ounces, rounded by the company to 127,000 ounces. Its separate copper resource totals 1.02 million tonnes at 4,103 parts per million for 4,122 tonnes of contained copper.
The drilling is being co-funded through the Western Australian Government’s Exploration Incentive Scheme, with Westralian Diamond Drilling carrying out the program. That support helps reduce the direct exploration burden, but the investment case still turns on what the drill core shows between the planned 550-metre target depth and the end of each hole.
Bottom Line?
The next meaningful catalyst is geological information from the 550-800 metre interval, followed by assays that determine whether the magnetic anomalies represent a material extension of Coogee mineralisation.
Questions in the middle?
- Will the Coogee North hole intersect the modelled magnetic body at the expected depth?
- Do the deep anomalies contain mineralisation comparable with, or materially different from, the shallow resource?
- When will geological observations and assays from the first hole become available?