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 after announcing a review of historic exploration data, revealing substantial exploration potential at its Coogee Project.
- The Coogee Project is located near the St Ives goldfield, approximately 50km south of Kalgoorlie.
- The review, led by Mark Cossom, identified large geophysical anomalies and mineralised alteration zones at Coogee North and Coogee West.
- Historic drilling has shown strong gold and gold-copper anomalism in the area.
- The project currently 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.
Author's summary: ASX market declines due to healthcare and tech losses.
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