Javelin Minerals : AC drilling further refines gold zone at Coogee West

For personal use only

25 July 2022

AC drilling further refines gold zone at Coogee West

Highlights

• Positive gold assay results from AC drill program over Coogee West refine a 1.5km zone
• Encouraging bottom of hole intersection of 3m @ 0.20 g/t Au including 2m @ 0.27 g/t Au
• Encouraging bedrock intersection hosted within a hematite altered intermediate feldspar porphyry, analogous to mineralisation on the Coogee Pit trend

Javelin Minerals Limited ("Javelin", ASX: JAV or "the Company") is pleased to advise the results of an aircore (AC) drilling program at its Coogee Project ("Coogee") near Kalgoorlie in Western Australia. Coogee is located approximately 55 kilometres south‐east of Kalgoorlie and immediately to the west of Silver Lake Resources' Randalls Mill (Figure 3).

Positive gold assay results have been received from the AC program at the Coogee West prospect located over Lake Lefroy (salt lake) defining a 1.5km gold trend. Drill hole COAC235 has returned an intersection of 3m @ 0.20 g/t from 28m including 2m @ 0.27 g/t Au. This gold intersection lies within a trend with previous Ramelius Resources drilled AC holes with values of up to 127ppb Au. Gold anomalism remains open to the south.

Javelin's AC drill program targeted areas, where historical AC drilling in 2015 by Ramelius Resources intersected anomalous bottom of hole of gold values up to 0.47g/t along a previously defined gold trend. The gold trend is further confirmed by Goldfields/Lefroy Exploration JV AC drilling, intercepting 6m @ 0.48g/t Au from 28m immediately south of Javelin's E 26/177 tenement boundary (Figure 1).

A total of 43 AC holes were drilled for 686 metres with holes ranging in depth from 4m to 40m (Table 1). A total of 268 composite and single metre samples were collected for Au and Cu analyses (Table

2).

Two main lithologies logged over the gold trend are mafic‐ultramafic and intermediate feldspar porphyries. The feldspar porphyry unit appears to form a 200 to 300m wide band trending NW‐SE that is broadly concordant with the structures outlined by the aeromagnetics and is associated with the intersected bedrock Au anomalies. The feldspar porphyry is bound on either side by mafic‐ultramafics (Figure 2). Gold mineralisation is associated with hematite alteration proximal to the inferred lithological contact and commonly hosts minor pink calcite veins and disseminated pyrite. Importantly this is the same alteration mineral assemblage associated with copper and gold mineralisation on the Coogee Pit trend. This suggests there is significant potential for shallow Coogee style copper‐gold mineralisition to occur 5 km to the west, currently obscured by Lake Lefroy salt lake.

Ground Floor, BGC Centre,	www.javelinminerals.com.au
28 The Esplanade Perth WA 6000

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1.4km Coogee

copper‐gold trend

Coogee West/Lake prospect

1.5km

Figure 1: Coogee Project E 26/177 ‐ 1.5km gold trend and Coogee West/Lake prospect location (blue line represents outline of Lake Lefroy salt lake).

Figure 2: Coogee West AC drill section 6554200N

Ground Floor, BGC Centre,	www.javelinminerals.com.au
28 The Esplanade Perth WA 6000

Table 1: Coogee West AC drill hole statistics

		Hole ID	Easting		Northing		Hole Depth (m)			Inclination
only		COAC205	387500		6555400		4			‐90
	COAC206	387600		6555400		4			‐90
		COAC207	387500		6555200		4			‐90
		COAC208	387600		6555200		4			‐90
		COAC209	387700		6555200		5			‐90
		COAC210	387800		6555200		13			‐90
		COAC211	387500		6555000		4			‐90
		COAC212	387600		6555000		7			‐90
use		COAC213	387700		6555000		8			‐90
	COAC214	387800		6555000		7			‐90
	COAC215	387900		6555000		11			‐90
		COAC216	388000		6555000		10			‐90
		COAC217	388100		6555000		40			‐90
		COAC218	387800		6554800		28			‐90
		COAC219	387900		6554800		9			‐90
personal		COAC220	388000		6554800		18			‐90
	COAC221	387800		6554600		21			‐90
	COAC222	387900		6554600		28			‐90
		COAC223	388100		6554600		13			‐90
		COAC224	388200		6554400		21			‐90
		COAC225	388100		6554400		11			‐90
		COAC226	388000		6554400		19			‐90
		COAC227	387900		6554400		19			‐90
		COAC228	387800		6554400		5			‐90
		COAC229	387400		6554200		4			‐90
		COAC230	387600		6554200		5			‐90
		COAC231	387800		6554200		8			‐90
		COAC232	387900		6554200		11			‐90
		COAC233	388000		6554200		14			‐90
		COAC234	388100		6554200		29			‐90
		COAC235	388300		6554200		31			‐90
For		COAC236	388400		6554000		29			‐90
	COAC237	388300		6554000		26			‐90
	COAC238	388200		6554000		14			‐90
	COAC239	388100		6554000		15			‐90
	COAC240	388200		6553900		15			‐90
	COAC241	388300		6553900		15			‐90
	COAC242	388400		6553900		18			‐90
		COAC243	388600		6553800		15			‐90
		COAC244	388500		6553800		30			‐90
		COAC245	388300		6553800		30			‐90
		COAC246	388200		6553800		39			‐90
		COAC247	388300		6553700		25			‐90

Ground Floor, BGC Centre,	www.javelinminerals.com.au
28 The Esplanade Perth WA 6000

Table 2. Significant anomalous gold intercepts (above 50ppb cut‐off))

							Interval
onlyusepersonalFor		Hole	From (m)		To (m)		(m)		gold (ppb)		Sample type
	COAC235	28		31		3		200 (0.20g/t)		composite
	including	28		30		2		272 (0.27g/t)		composite
		COAC236	16		20		4	52		composite
		COAC237	20		24		4	52		composite
		COAC242	17		18		1	66		1m sample EOH
		COAC243	14		15		1	122		1m sample EOH
		COAC246	38		39		1	58		1m sample EOH

Ground Floor, BGC Centre,	www.javelinminerals.com.au
28 The Esplanade Perth WA 6000

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ABOUT THE COOGEE PROJECT

Coogee is located approximately 55km southeast of Kalgoorlie on the north‐eastern shore of Lake Lefroy and comprises four tenements (Mining Lease M 26/477, Exploration Lease E 26/177 and Miscellaneous Licences L 26/264 and L 26/265) that cover an area of approximately 17km2.

The project's location (Figure 3) near the major mining centre of Kalgoorlie in Western Australia provides ready access to both significant exploration and mining support services and a skilled workforce.

To date Javelin has completed four phases of RC drilling totalling 135 holes for 19,136 metres. The drill programs have been successful in outlining mineralisation which transitions from gold to copper‐gold to the north within a broader copper‐gold system at Coogee which now has strike length of over 1km.

Figure 3: Location map showing Coogee Project tenements, mills and infrastructure.

Ground Floor, BGC Centre,	www.javelinminerals.com.au
28 The Esplanade Perth WA 6000