ASX Market Update
The Australian stock market is experiencing a decline, led by heavy falls in the healthcare and tech sectors, despite seven out of 11 sectors showing gains.
Javelin Minerals (ASX:JAV) has seen a significant increase of 50% in morning trade after announcing a review of historic exploration data, revealing substantial exploration upside at its Coogee Project.
- The Coogee Project is located near the world-class St Ives goldfield, approximately 50km south of Kalgoorlie.
- The review, led by new GM – Exploration and Resources Mark Cossom, identified large geophysical anomalies correlating with known mineralised alteration zones at Coogee North and Coogee West.
- Shallow historic drilling has shown strong gold and gold-copper anomalism, with the project already hosting 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.
Author's summary: Aussie market declines due to healthcare and tech sectors.