Javelin Minerals has released an updated mineral resource estimate at its Coogee gold project near Kalgoorlie showing a massive 1400 per cent increase in tonnage and a 350 per cent rise in contained metal.
The new gold mineral resource estimate at the project is now 1.42 million tonnes at 1.07 grams per tonne gold for a total of 49,000 ounces.
Javelin has spent the past 12 months completing a four-phase RC drill program totalling 135 holes for 19,136m with Cube Consulting interpreting the data for the adjusted resource figure.
The company says whilst the resource increase can be partially attributed to a lower cut‐off grade, the update is also the result of significant resource extensions from drill programs in addition to a thorough in‐house geological interpretation that has highlighted more prospective areas of gold mineralisation.
The previous estimate released by Ramelius Resources in 2014 showed a JORC resource of 96,000 tonnes grading 3.4 g/t gold for 10,600 ounces.
Whilst historical resource investigations were only carried out for gold, Javelin has included an inferred copper mineral resource of 568,472 tonnes at above 3000 parts-per-million copper for more than 2000 tonnes of copper.
Javelin Minerals Executive Director, Matthew Blake said: “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. 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 1 km.”
Coogee covers an area of about 17 square kilometres 55km south-east of Kalgoorlie on the north-eastern shore of Lake Lefroy. The project is 16km west of ASX-listed Lefroy Exploration’s Burns prospect.
The company says the project lies within the Kalgoorlie Terrane in the southern part of the Eastern Goldfields Province of the Archaean Yilgarn Craton.
Just last month air-core drilling by Javelin at Coogee delivered positive assay results over a 1.5km trend, with an encouraging bottom-of-hole 3m intersection going 0.2 grams per tonne gold from 28m.
The latest intersections come from an area within the project’s Coogee West prospect about 5km west of where Ramelius 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.
Javelin says the Coogee deposit has previously been mined using conventional open-cut mining and expects similar methods will be used for future mining.
With the incredible increase to its gold resource estimate at Coogee and the addition of copper to the deposit, Javelin says it is confident additional copper-gold resources can be defined at the site.
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