Latest news with #Ramelius
The Advertiser
04-08-2025
- Business
- The Advertiser
Rivers of gold pour into Kalgoorlie for mining forum
Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said.
West Australian
04-08-2025
- Business
- West Australian
‘We are the golden goose': Gold bosses Mark Zeptner and Simon Lawson bask in Diggers glory
After merging their companies in one of the top WA deals of the year amid record prices, gold lads Mark Zeptner and Simon Lawson are emboldened a pro-mining State Government won't kill their golden goose. This time last year the mining CEOs had been trading jibes via investor calls as to whether one had the 'firepower' to acquire the other. Twelve months on and they are sharing the stage at Diggers and Dealers, stepping out future plans for Ramelius Resources and the recently absorbed Spartan Resources under a $2.5 billion cash and share deal. The merger of the acquisitive Murchison mid-tier and an explorer regarded one of the biggest gold exploration success stories of 2024 comes during a startling run in gold prices. That run —which hit a record of $US3500 in April — has yet again seen the yellow metal retain its crown as the top commodity at the annual mining conference in Kalgoorlie, which kicked off on Monday. And with a bolstered market capitalisation of $4.8 billion, ex-Spartan boss Mr Lawson reckons Ramelius has been vaulted into a new category of M&A target. The newly-merged group's project portfolio comprises two anchor processing hubs at Mt Magnet and Edna May, and has now brought the mothballed Dalgaranga mill and Spartan's Never Never deposit into the fold. 'I think maybe the combination has actually made Ramelius combined a bit of target for bigger players,' Mr Lawson jibed. As part of the merger ex-Spartan chief Mr Lawson has taken on roles of non-executive director and deputy chair of the merged group. Pried for more detail on the new gigs, he said he wanted to make clear he was 'not trying to take trying to take Mark's job.' 'What I am trying to do is support Mark in his job. It's a position I have occupied in the past for other captains of industry, and I've got a lot of respect for Mark. And what I want to do is add exploration strategy . . .and help with that aspect.' Strong prices have meant good news for the royalties flowing into WA. Though at current rates, gold miners only pay the State 2.5 per cent of the value of the minerals they sell Much to the relief of the WA gold mining world, a spokesman for Mines Minister David Michael earlier this year hosed down any speculation more royalties could flow back to State coffers. 'Unequivocally no,' he said in February. Asked whether the continued price increases might reignite the discussion, Ramelius boss Mr Zeptner said the State Government understood that 'we are the golden goose, and they don't want to kill it.' 'It's not like the miners get all of the uplift in gold price. The government gets more as the gold price goes up as well so it doesn't mean you have to then raise the royalty rate on top of that.' Mr Lawson added that a recent State Government decision to intervene on charging explorers on miscellaneous mining licences showed it was 'paying attention' to the sector. 'So I don't think they're going to come after the gold royalty argument again, but we'll see.'
News.com.au
19-06-2025
- Business
- News.com.au
The Murchison goldfields could be the best place in WA to find a new gold mine
The Murchison is one of the best places in WA to explore for gold Competitive tension between major players Westgold and Ramelius puts toll treatment and takeovers on the agenda for juniors Caprice Resources is in the sweet spot, wedged between the fiefdoms of WGX and RMS In one of Australia's longest running gold fields, its infrastructure literally shaped by the historic mines the run like arteries through its landscape, two great fiefdoms have emerged. To the north of the Murchison, centred around the historic gold rush towns of Cue and Meekatharra, is the territory of Westgold Resources (ASX:WGX), which mills over 200,000oz of the precious metal every year through plants at Tuckabianna, Bluebird and Fortnum. To the south is Ramelius Resources (ASX:RMS), the king of the town of Mt Magnet, which has a similar production footprint out of its Checkers Mill and is charting a path to 500,000ozpa by incorporating Spartan Resources (ASX:SPR) and its Dalgaranga gold project. The competitive tension is palpable, highlighted in 2023 by the battle between the warring parties for Musgrave Minerals and its Cue gold project – RMS won the bidding there. Westgold ended up merging with TSX-listed Karora to take on its Beta Hunt mine further south near Kambalda, but was at one point a suitor for Spartan forerunner Gascoyne before its fateful Never Never gold discovery. Any player with a decent find in the district will become a takeover target for the hungry titans of the 133-year-old gold field. And new players are emerging that makes it even more exciting, especially with gold prices running above $5200/oz. Meeka Metals (ASX:MEK) raised $60m this week for its Meekatharra gold project, where it is mulling the expansion of the project's 600,000tpa mill. Vault Minerals (ASX:VAU) is chasing life extensions for the Deflector gold and copper mine, TSX-listed Monument Mining is looking to revive the mothballed Burnakura plant and Catalyst Metals (ASX:CYL) has hit a $1.5bn valuation with its revival of the Plutonic gold mine further afield beyond Meekatharra. For Caprice Resources (ASX:CRS) managing director Luke Cox, there's no better place to be looking for a fresh gold deposit in the context of an all-time boom for the precious metal, revealed by the WA Government to be contributing a record $739 million in royalties for the resource rich State alone in 2024-2025 and heading for higher climes of close to $1bn in each of 2026 and 2027. Caprice's New Orient and Island gold projects sit at the nexus of the two big players, wedged literally between the domains of Westgold and Ramelius. "You have two major players butted up against each other in the Murchison goldfields," Cox said. "They have mills they need to feed and all of a sudden you've got the explorers, which are like the incubators for future resources within the area that will feed their mills." Fill the mills It's known Westgold is chasing additional feed for its processing plants, especially shallow open pit gold that can supplement the underground mines under its control like Big Bell and Great Fingall. The $2.8bn gold miner has already inked a deal with New Murchison Gold (ASX:NMG) to process ore containing around 140,000oz over 2.5 years through its Bluebird plant near Meekatharra from the junior's Crown Prince gold deposit. Ramelius, meanwhile, has been acquisitive in recent years, bolting on higher quality but short live resources like the Penny gold mine and Break of Day, the latter literally located next door to Caprice's ground. CRS has a headstart on permitting. Its New Orient and Island projects sit on separate granted mining leases, removing a critical hurdle to get any gold project up and running given the time it takes to secure Aboriginal heritage clearances and State Government approval to have a mining lease granted. Now the aim is to drill out something worthy of getting the mid-tiers intrigued. The Vadrians Hill prospect at Island has already shown its wares – a headline strike of 28m at 6.4g/t in February proved the catalyst for the $37m capped explorer's 160% YTD share price rise. A 7000m program recently wrapped up, with 2000m added to an initial 5000m campaign as gold continued to show. Work is also ongoing to prove up the tighter drilled New Orient, where a historic resource was once reported. In the more than two decades since drilling has gotten denser, deeper and expanded the known strike of gold mineralisation, Cox says. At Vadrians, the aim is to outline a potential open pit with drilling continuing to find more gold. "Initially we're looking at open pit material because that'll be the material that's of more interest to potential players in the area," he said. "When you look at (Ramelius') Break of Day, we'll be chasing one of these to depth, either Baxter or Vadrians, North Vadrians, South Vadrians, we've just got a new discovery down here. " There's always things that we can start to chase. " At the moment, we're doing the shallower drilling, and then we'll start following up with deeper drilling. That's where you start getting some significant ounces." The critical thing for companies like Ramelius and Westgold is to keep their mills fed to the optimum level. Cox, who was once mine manager at the Edna May gold mine in WA, pointed out they need to run at a critical mass or the ball mills – rotating barrels that grind down and liberate gold from mineralised ore before it is leached with cyanide – literally "eat themselves". The steel balls which act as the grinding media can erode against each other without the right amount of ore to act as a buffer. Filling the mills isn't a luxury, it's a necessity. Handily, work completed by previous owners has shown the ore at Island is similar to that which has been processed at Ramelius' Checkers mill for decades. Caprice will be taking its own samples for metallurgical testwork in upcoming diamond drilling. The golden radius Forget the golden ratio, the golden radius has become the key equation for mill operators in WA's hot gold scene. Back in his Edna May days, Cox recalls drawing a 100km circle around the Westonia mine's processing plant. Everything inside was fair game for M&A or toll treatment deals. With gold prices at record highs, that circle is expanding. Mines now located between 100-200km from a processing plant can be comfortably trucked and milled at a profit. Where Caprice thinks its ground position stands out is that if the gold price were to collapse, that radius could shrink to 50km. "If the gold price goes down to US$1500/oz, what are you going to do? If the gold price goes up to US$5000/oz, how are you going to bang for as much material as possible to make like hay while the sun shines?" Cox said. "So you need all of these juniors to prove up resources that become potential feed sources for there mills." For CRS, Cox said the key thing was it knows the gold is there in the ground, it just needs to do the work to prove up deposits of significance, and recently raised a cool $7m in quick time from investors to do just that. Who else is aiming to join the Murchison empire? There are plenty of other gold explorers looking to outline and mine resources across the historic Murchison Goldfields. Aforementioned New Murchison Gold is an obvious one, given their processing tie-up with Westgold and denied media speculation of a takeover approach from WGX last last month. NMG is planning to develop Crown Prince at a cost of just $5.4m in the second half of this year, with its ore reserve running at 890,000t at 4.8g/t for 140,000oz. Odyssey Gold (ASX:ODY) owns the Tuckanarra project where it boasts a significant resource of 407,000oz at 2.5g/t, as well as an access and collaboration agreement to potentially process the ore with its joint venture partner Monument Mining at the Burnakura mill. Monument is currently looking into the reopening of the plant and its expansion from 260,000tpa to 750,000tpa. Great Boulder Resources (ASX:GBR) owns the Side Well gold project, containing over 500,000oz on Meekatharra's doorstep and is regularly touted as a potential takeover prospect for Westgold. Further afield Strata Minerals (ASX:SMX) is looking to see if the mineralisation hosting Ramelius' ultra high grade Penny gold mine continues to the south. Initial drill results returned some low grade gold hits, but provided encouragement to plan another round of drilling. Closer to Wiluna on the cusp of the Murchison and Northern Goldfields, Western Gold Resources (ASX:WGR) is planning FID on its Gold Duke utilising a processing deal with the operators of the Wiluna gold mine. The site would deliver 447,000t at 2.55g/t Au for 34,000oz according to a scoping study, generating an estimated undiscounted accumulated cash surplus of $38.10 million against a capital bill of just $2.1-2.5m. Star Minerals (ASX:SMS) is also aiming to become a small-scale gold producer at its Tumblegum South project, with India's Bain Global Resources on board as a strategic investor. With the Indian mining contractor's help it wants to bring Tumblegum South into production in early 2026. A scoping study suggested at gold prices from A$3000 to A$3800/oz – well below current levels – the updated production target for the Tumblegum South Gold Project ranges from approximately 167,000t at 2.43g/t producing 11,800oz gold, to 255,000t at 2.16g/t producing 15,900oz gold. That would generate an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital requirements, of approximately A$9.4m to A$19.6m. Tumblegum South contains a total resource of 45,000oz.
The Age
17-06-2025
- Business
- The Age
Javelin eyes hidden gold-copper trove in WA Eastern Goldfields
ASX-listed Javelin Minerals has zeroed in on a suite of highly prospective, undercover gold and copper targets at its Coogee West project in Western Australia's Eastern Goldfields, setting the stage for high-impact drilling in the September quarter. The company's latest geophysical review, run by Core Geophysics, has peeled back the layers at Coogee West to reveal a compelling treasure map of high-priority anomalies lurking beneath shallow alluvial cover. Historical, wide-spaced air core drilling in parts of the Coogee West barely scratched the surface, only reaching depths of up to 30 metres. The new drilling campaign will be designed to dive deeper and get below the cover that is currently masking the potential treasures lurking beneath. Javelin says two of the five targets stretch 2 to 3 kilometres in strike length and have never been touched by a drill bit. 'We know that Coogee hosts a significant gold system in a world-class location, situated on the edge of the renowned St Ives goldfield. Despite these outstanding credentials, large areas of the project remain undrilled.' Javelin Resources executive chairman Brett Mitchell Leading the charge for priority drilling is a standout 'bullseye' anomaly 1.5km west of the Coogee pit. The high-contrast magnetic hotspot starts 300m below surface and plunges to a depth of 1km. As yet, it remains completely untested. A similar, though smaller, anomaly just southwest of the main target is also on the company's radar. This target shares the same rock structure as the Coogee pit and was first tested in 2015 by Ramelius Resources, which picked up broad gold hits with minor copper from two diamond holes. Wide-spaced air core drilling later followed before Ramelius walked away, leaving much of the area underexplored. A few kilometres west of the bullseye, two additional magnetic targets stretching across a combined 4.8km of strike have also been identified. The company believes these may be magnetite-pyrite-rich structural corridors, often associated with high-grade gold and could hold significant mineralisation.
Sydney Morning Herald
17-06-2025
- Business
- Sydney Morning Herald
Javelin eyes hidden gold-copper trove in WA Eastern Goldfields
ASX-listed Javelin Minerals has zeroed in on a suite of highly prospective, undercover gold and copper targets at its Coogee West project in Western Australia's Eastern Goldfields, setting the stage for high-impact drilling in the September quarter. The company's latest geophysical review, run by Core Geophysics, has peeled back the layers at Coogee West to reveal a compelling treasure map of high-priority anomalies lurking beneath shallow alluvial cover. Historical, wide-spaced air core drilling in parts of the Coogee West barely scratched the surface, only reaching depths of up to 30 metres. The new drilling campaign will be designed to dive deeper and get below the cover that is currently masking the potential treasures lurking beneath. Javelin says two of the five targets stretch 2 to 3 kilometres in strike length and have never been touched by a drill bit. 'We know that Coogee hosts a significant gold system in a world-class location, situated on the edge of the renowned St Ives goldfield. Despite these outstanding credentials, large areas of the project remain undrilled.' Javelin Resources executive chairman Brett Mitchell Leading the charge for priority drilling is a standout 'bullseye' anomaly 1.5km west of the Coogee pit. The high-contrast magnetic hotspot starts 300m below surface and plunges to a depth of 1km. As yet, it remains completely untested. A similar, though smaller, anomaly just southwest of the main target is also on the company's radar. This target shares the same rock structure as the Coogee pit and was first tested in 2015 by Ramelius Resources, which picked up broad gold hits with minor copper from two diamond holes. Wide-spaced air core drilling later followed before Ramelius walked away, leaving much of the area underexplored. A few kilometres west of the bullseye, two additional magnetic targets stretching across a combined 4.8km of strike have also been identified. The company believes these may be magnetite-pyrite-rich structural corridors, often associated with high-grade gold and could hold significant mineralisation.
