ASX-listed junior explorer Javelin Minerals has secured a further 72 sq kms of territory at its Mt Ida-Ida Valley project in a region currently under the microscope of other juniors for its multi-element mineralisation. The Mt Ida-Ida Valley project covers approximately 972 square kilometres in total of highly prospective ground about 100 kilometres west of Leonora in WA.
The new parcel of land was purchased from Fleet Street Holdings and terms of the acquisition include a $25,000 cash payment and a further $20,000 in shares.
Immediately south of Mt Ida-Ida Valley ASX-listed Red Dirt Metals who is making some serious headway in the lithium space. Riding the lithium wave, the explorer has taken its share price from $0.14 on the 13th of August 2021 to $0.56 today.
Additionally, ASX-listed St George Mining is exploring for base metals and platinum-group elements to the west with the same prospective and regional Widgiemooltha dykes running through both projects.
In an attempt to capture some success for itself, Javelin intends to review its radiometric data to identify any potential lithium-bearing rocks at or near the surface.
It also aims to evaluate the base metals and platinum-group elements potential of its project from aeromagnetic interpretations and fieldwork planned to commence late next month.
According to management, gold mineralisation sitting 2km west of the company’s ground is closely related to the regional structure known as the Zuleika Shear that has given up millions of ounces over time. Interestingly, the company interprets the prospective structure to pass through its plot of land.
The junior explorer is in the final stages of preparing a ground-borne field program for its entire Mt Ida-Ida Valley project after its vigorous acquisition program and low-level aeromagnetic and radiometric survey.
In order to strengthen its exploratory power, the company plans to merge available airborne aeromagnetic data covering the new acquisition with the recently completed aeromagnetic and radiometric surveys of its encompassing project.
In such a hotly contested area with multi-element potential, neighbours and the market will be peering over the fence with mounting interest to see what Javelin may unearth at Mt Ida-Ida Valley.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
