ASX-listed explorer Javelin Minerals has completed a detailed aeromagnetic survey of its 900 square kilometre Mt Ida-Ida Valley project near Menzies in WA and the results are set to guide the soon to commence field-based exploration.
The survey covers two granted exploration licences and five exploration licence applications.
Elsewhere, drill results from the company’s exciting Coogee gold-copper project near Cue are also expected to be tabled soon.
Javelin is seeking northward extensions of the Mt Ida goldfield, including the rich, gold bearing Zuleika Shear Zone. Information on the location of previously untested lithium‐tantalum‐rich pegmatite intrusions and mafic and ultramafic rocks with base and precious metals potential is anticipated from the aeromagnetic survey results.
The aeromagnetic and radiometric survey comprised 21,000 flight line kilometres across very close 50 metre line spacings flown just 35-40m above ground.
Javelin Minerals Executive Director, Matthew Blake stated: "The completion of the AMAG survey now allows us to start the processing of the geophysical data and field work will commence soon afterwards. Drilling will focus on precious metals, copper, nickel, lithium and cobalt following up on the juicy hits revealed by adjacent explorers Red Dirt Metals and St George Mining.”
Javelin’s also recently picked up a new tenement it is calling the Bonaparte project in the Kimberly where it has a significant land position with potential for Mississippi Valley‐type copper, lead, zinc and silver mineralisation.
At the Coogee project near Cue in WA, Javelin has a JORC resource of 96,000 tonne grading 3.4 grams per tonne gold for 10,600 ounces. Results are expected soon for 13 RC holes testing strike and depth extensions in three parallel mineralised trends immediately north of the old Coogee open pit where mined grades averaged a substantial 4.7 g/t gold.
All zones at Coogee are open at depth and along strike. Recently completed drilling at the main trend was aimed at testing extensions to several newly discovered high-grade gold shoots that include drill hits of 4m at 9.34 g/t gold, 27m at 1.22 g/t and 5m at 5.11 g/t gold in the main zone.
In the parallel eastern zone recent drilling followed up on previous thick intersections including 17m at 1.98 g/t gold and 1 per cent copper and 12m going 2.37 g/t gold and 0.45 per cent copper.
The company still holds a substantial cash position of $1.44 million at the end of the December quarter and Shaw and Partners has been engaged to advise on capital raising options to fund ongoing exploration.
With plenty of results to come from drilling at the Coogee gold-copper project and the prospect of a slew of targets from the extensive geophysics at Mt Ida, 2022 may yet become the year Javelin starts to fly.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
