Javelin Minerals (ASX:JAV) completes Coogee North hole with assays pending
Javelin Minerals has completed its first deep diamond hole at Coogee North in Western Australia, intersecting an altered and deformed geological sequence consistent with rocks seen in the historic Coogee open pit.
The 819.8m hole has been logged, while downhole magnetic susceptibility data suggests the source of the modelled magnetic anomaly has not yet been identified.
Highlights
Brittle faulting, brecciation and hydrothermal alteration recorded from 529.12m to approximately 731m downhole.
Core cutting and sampling commenced for assays and selected petrographic analysis.
Evaluation and planning of an extension and/or wedge hole underway.
Rig shifted to Coogee West for a planned 1,000m hole.
Laboratory assays expected in 8 to 10 weeks.
The Coogee Gold Project is located 55km southeast of Kalgoorlie on a granted Mining Lease, with a JORC Resource of 3.6Mt at 1.08g/t Au for 127,000oz of gold and 1.0Mt at 0.41% Cu for 4,122t of copper.
The Coogee North magnetic anomaly sits directly below the majority of the existing Coogee North gold and copper Mineral Resource.
Javelin commenced its 2 hole diamond program on 2 September to test the Coogee North and Coogee West magnetic anomalies and identify the source of associated gold and copper mineralisation encountered above both intrusive targets at surface.
Historic shallow RC and aircore drilling recorded gold and copper anomalism in proximity to the targets, while no previous deep drilling had tested the source of these modelled anomalies.
The diamond holes are jointly funded through the WA Government Exploration Incentive Scheme, with Westralian Diamond Drilling of Kalgoorlie undertaking the work.
At Coogee North, hole CODD001a encountered felsic and intermediate to mafic volcanic and volcanoclastic rocks intruded by porphyritic dacite dykes ranging from 5m to 30m thick.
Geological logging identified a distinct hematite, epidote and carbonate alteration halo at the contacts between these intrusions and the volcanic host sequence.
Within the deeper faulted and brecciated interval, moderate to strong hydrothermal alteration progresses from pervasive hematite and epidote to a hematite, silica and magnetite zoned alteration suite, accompanied by abundant quartz and quartz carbonate veining and variable pyrite and chalcopyrite sulphides.
The announcement expressly qualifies the visual observations, stating,
“The sulphide percentages reported above are visual estimates only and are not indicative of copper or gold grades.”
It also cautions that visual estimates should never substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest, and may provide no information about impurities or deleterious physical properties relevant to valuations.
Although minor magnetite alteration is present, Javelin believes the magnetic anomaly is below or beside the completed hole.
The company interprets the alteration around dacitic dykes and the deeper deformation system as suggesting that drilling may have passed over a larger intrusive body.
Further assessment will combine downhole geology, portable XRF and laboratory assay data, magnetic susceptibility measurements and existing airborne geophysical information to refine the Coogee North target and identify potential next steps for testing.
Meanwhile, the rig is drilling at Coogee West to test a separate geophysical anomaly.
Work at Coogee North will include laboratory assays and selected petrographic analysis, alongside evaluation of further drilling options to investigate the source of the magnetic response.