ASX Market Update
The Australian stock market is experiencing a decline, led by significant losses in the healthcare and tech sectors, despite seven out of 11 sectors showing gains.
Javelin Minerals (ASX:JAV) has seen a 50% increase in morning trade following the announcement of a detailed review and reinterpretation of historic exploration data at its Coogee Project.
- The review, led by new GM – Exploration and Resources Mark Cossom, revealed significant exploration upside at the project.
- Large geophysical anomalies were identified, correlating with known mineralised alteration zones at Coogee North and Coogee West.
- Shallow historic drilling showed strong gold and gold-copper anomalism, supporting the findings.
The Coogee Project already hosts a JORC Resource of 3.6Mt at 1.08g/t Au for 127,000oz of gold and 1Mt Cu at 0.41% for 4,122t of copper on a granted mining licence.
No direct quotes available in the given text.
Author's summary: ASX market declines due to healthcare and tech losses.
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