Javelin Minerals Limited - Compelling gold-copper drill targets identified at Coogee Gold Project

About this update from Javelin Minerals Limited

Javelin Minerals Limited (ASX: JAV) ('Javelin') is pleased to announce that numerous compelling drill targets have been identified at its Coogee Gold Project in WA's Eastern Goldfields . Javelin engaged Core Geophysics ('Core Geo') to compile all historical open file geophysical activity (includes gravity, magnetics, EM, IP and DHEM surveys) related directly to the Coogee Gold Project . The new targets were identified as part of an extensive review of the geophysical data commissioned by Javelin's new Board and undertaken by independent geological consultants and the Javelin technical management team. Following these initial findings, the Company will prioritise the key exploration targets for drilling based on the magnetic/gravity geophysics and the known identification of historic geochemical and drilling data, and generate new targets. The Company has engaged OmniGeoX Pty Ltd , led by Peter Langworthy , as independent technical consultant to review all the existing project drilling and geophysical data and plan an exploration drilling program to commence shortly on the priority targets Javelin Executive Chairman Brett Mitchell said: 'We know Coogee hosts a gold system in a world-class address on the edge of the famous St Ives goldfield. But despite these outstanding credentials, there has been little or no drilling on so much of the tenure. These geophysical results highlight the huge upside at Coogee , with numerous compelling targets identified below and around the Coogee deposit. With the new Board and Management team in place and the recent fund raising completed, we are on track to start drilling these targets in the next quarter. 'At the same time, we are completing an independent review and update of the existing Coogee resource, which will give us a solid foundation as we seek to build a substantial gold inventory within one of the world's great gold mining provinces Introduction The region is considered prospective for gold mineralisation and contains a number of historical mines and mineral occurrences. The project is situated in a highly fertile greenstone belt with numerous gold deposits and abundant gold occurrences nearby. The Coogee , Salt Creek , Daisy- Milano and Lucky Bay gold deposits, plus the major St Ives gold camp are specifically relevant to exploration of the project. The project tenements have undergone varying levels of exploration with the discovery of gold in the 1800's at Hogans Find. Modern exploration commenced in the 1900's by BHP who discovered the Carnilya Hill Nickel deposit. The Coogee gold deposit located within the project tenements was discovered in the mid-1990's by Sovereign Resources and was subsequently mined by Ramelius Resources (ASX : RMS) in 2013. Ramelius mined an open cut pit (approximately 70m deep) at Coogee in 2013, with reported production of 147,400 tonnes at 4.7 g/t Au for a recovered 20,400 ounces of gold. Processing was at the Burbanks Mill (conventional carbon-in-leach processing facility), south of Coolgardie with metallurgical recovery of 96.4% Geology and Prospectivity The project is located in the southern part of the Norseman - Wiluna Greenstone Belt within the Parker Domain of the Kalgoorlie Terrane (Griffin and Hickman, 1988a). The project is situated in a highly fertile greenstone belt with numerous gold deposits and abundant gold occurrences nearby. The Coogee , Salt Creek , Daisy- Milano and Lucky Bay gold deposits, plus the major St Ives gold camp are specifically relevant to exploration of the project. The Coogee Deposit is hosted within a package of intermediate to felsic volcanics and volcaniclastics, comprising dacite, andesite and rhyolite lithologies. The primary mineralised zone comprises a moderately southwest dipping shear zone at the contact between the dacitic crystal tuff unit and a locally porphyritic andesite flow. Gold is directly associated with pyrite, which is frequently intergrown with magnetite and high gold values coincide with increased percentages of pyrite and magnetite. Magnetite rich zones have also been intersected, but without pyrite, they do not host gold mineralisation. COOGEE WEST E26/177 GEOPHYSICS RESULTS AND TARGETS Located immediately west of M26/477 the southern half of this tenement covers Lake Lefroy with the northern half containing widows of weathered outcrop and Cenozoic cover. Historically the Exploration Licence has been sporadically explored with wide spaced reconnaissance aircore drilling across the salt lake completed by Ramelius with and RC and diamond drilling completed in the north by Terrain Minerals . The tenement is covered by 50m line spaced aeromagnetic data and variable gravity on 100m to 400m spaced lines with 100m stations. The magnetic imagery highlights variably magnetic northwest trending mafic and ultramafic units which are intruded by granitic intrusions and surrounded by sediments and intermediate to felsic tuffs. Filtered gravity provides complimentary information to the magnetics, displaying local gravity highs over ultramafic and mafic units and gravity lows over sediments and granitic intrusions. CG-04 Target Zone discrete untested circular magnetic anomaly of approximately 700nT approx. 1.5km west of the Coogee Pit . This represents a higher priority drill target based on the stronger magnetic response compared to the CG-01 (400nT) target zone which is known to hosts gold-copper mineralisation north of the Coogee Pit . The top of the anomaly starts from 300 vertical metres extending down to 1km in depth - no drilling has tested this anomaly and represents a high-order drill Au-Cu target. Contact: Brett Mitchell Paul Armstrong Executive Chairman Investor Relations Javelin Minerals Limited Read Corporate Email: [email protected] Competent Persons Statement The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Pedro Kastellorizos. Mr. Kastellorizos is the Non-Executive Director of Javelin Minerals Limited and is a Member of the AusIMM of whom have sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Kastellorizos has verified the data disclosed in this release and consent to the inclusion in this release of the matters based on the information in the form and context in which it appears. Mr Kastellorizos has reviewed all relevant data for the aircore drilling program and reported the results accordingly Forward Statement This news release contains 'forward-looking information' within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget' 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or indicates that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be' taken, 'occur' or 'be achieved.' Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, commodity prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the project, permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in commodity prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws. (C) 2024 Electronic News Publishing, source ENP Newswire

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