Javelin Minerals (ASX:JAV) has completed the first deep diamond hole at Coogee North, and the result has given the company a reason to keep pushing.
CODD001a reached 819.8m and intersected a heavily altered and deformed volcanic-intrusive sequence, with geology comparable to that seen around the historic Coogee open pit.
Promising geology, target still alive
Between roughly 529m and 731m, drilling cut a broad zone of faulting, brecciation, hydrothermal alteration, quartz veining and variable pyrite-chalcopyrite sulphides.
That is exactly the kind of system Javelin wanted to see.
But downhole magnetic susceptibility suggests the hole did not intersect the main source of the modelled magnetic anomaly.
The current interpretation is that the hole may have passed above or to the side of a larger intrusive body.
That keeps the target very much alive.
Figure 1: Core tray photo from Coogee North hole CODD001a, highlighting the typical brittle deformation and associated hematite – silica alteration.
Wedge hole now on the table
Javelin is now evaluating an extension or wedge hole off CODD001a to get closer to the interpreted core of the anomaly.
Assays and petrographic work are underway, with laboratory results expected in around eight to ten weeks.
Those results will be combined with geochemistry, magnetic data and existing airborne geophysics to refine the next move.
Coogee West gets the rig next
The drill rig has already moved to Coogee West, where Javelin is testing a separate major intrusive gold-copper target with a planned 1,000m hole.
Neither target has previously been tested at depth.
That gives Javelin two genuine deep shots beneath a project that already carries a JORC Resource of 3.6Mt @ 1.08 g/t Au for 127,000oz gold and 1.0Mt @ 0.41% Cu for 4,122t copper.
Figure 2: Diamond drilling at Coogee North hole CODD001a. Note the location of the historic Coogee open pit.
What comes next
The next catalysts are set to follow tick and fast.
Assays from Coogee North, a decision on the wedge or extension hole, and the first deep result from Coogee West are all ahead over the coming few months.
Javelin has not hit the prize yet, but the geology says it may be getting closer.
