Javelin Minerals has picked up some intriguing hints of mineralisation only 5km west from where ASX-listed Ramelius Resources operated its successful Coogee West mining operation that produced more than 20,000 ounces of gold at an impressive head grade of 4.7 g/t gold. Importantly, Javelin says the characteristics from the latest mineralisation it has encountered bear similar characteristics to what Ramelius was able to turn into a operating mine less than 10 years ago.
The drilling by the explorer 55km south-east of Kalgoorlie in WA’s Goldfields delivered positive assay results over a 1.5km trend, with an encouraging bottom-of-hole 3m intersection going an 0.2 grams per tonne gold from 28m.
The 43-hole air-core program was designed to follow up drilling by ASX-listed Ramelius Resources in 2015 that returned bottom-of-hole gold values up to 0.47 g/t along a previously defined gold trend.
Further evidence of the trend is being uncovered immediately south of Javelin’s fence lines by a joint venture between Goldfields and Lefroy Exploration with their drill holes plunged late last year returning 6m 0.48 g/t gold from 28m.
The latest intersections come from an area within the project’s Coogee West prospect about 5km west of where ASX-listed Ramelius Resources carried out gold mining on the Coogee project in 2013.
Ramelius produced 20,400 ounces of gold at an average head grade of 4.7 g/t gold from the Coogee open pit and left behind valuable site infrastructure and a remaining resource estimate of 96,000 tonnes grading 3.4 g/t gold for 10,600 ounces.
Javelin says its drilling at Coogee West encountered gold mineralisation associated with hematite alteration close to where the company infers a contact between two main rock units.
Importantly, the explorer says the same mineral association is found extending out from Ramelius’ historical open pit to the east and believes there is significant potential for a repeat that is currently obscured by Lake Lefroy.
The area, south-east of Kalgoorlie, appears to have a solid share of gold as evidenced by its wide cast of explorers and producers.
Most notably, just 16km to the west of Javelin is ASX-listed Lefroy Exploration’s Burns prospect where early last year a 60m copper-gold hit going 5.22 g/t gold and 0.38 per cent copper caused a stir in the market.
The project is also shouldered to the east and west by the processing plants of prominent producers Northern Star and Silver Lake Resources.
Since acquiring an initial interest in the project in late 2020, Javelin has plunged 135 RC holes into Coogee and returned solid hits extending out from the open pit.
Significant intersections include 4m at 9.34 g/t gold from 175m, containing 2m at 16.15 g/t and another 4m strike going 5.11 g/t gold and 0.71 per cent copper.
Javelin appears to be scratching at the surface of more gold — this time, on the other side of its lease.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
