Javelin has project licences extended

Perth-based Javelin Minerals announced on Friday that exploration licences at its Husky and Malamute projects - located in central New South Wales - have been extended for a further three years. 

The licences will now expire on October 30 2026, following approval from the Regional NSW Mining, Exploration and Geoscience department.

This announcement comes on the back of Javelin telling the market in July last year it believed assays from both Husky and Malamute indicated that the company was drilling the identical ultramafric rock valued at $21 million by Rio Tinto nearby. 

Javelin's management was heartened by these results and stated it felt both sites possessed excellent prospectivity. 

Three months prior, Javelin ordered more air-core drilling at Malamute, which resulted in 18 holes being drilled, which followed up a 40-hole air-core program back in 2019.

Air-core drilling is a cost-effective method, as it uses a small rig and can drill quicker. It is typically used in a bid to pinpoint key targets which may warrant further exploration. 

Aside from Husky and Malamute, Javelin also has three projects in Western Australia.