Javelin Minerals Launches Drilling at Eureka Gold Project Near Kalgoorlie

Eureka Gold Project Drilling Set to Begin

Javelin Minerals Limited (ASX: JAV) has announced the imminent start of its maiden drilling campaign at the Eureka Gold Project, located approximately 50 kilometres north of Kalgoorlie in Western Australia. Scheduled for early March, the 2,500-metre reverse circulation (RC) drilling program aims to test extensions of known high-grade gold mineralisation and explore newly identified structural and geochemical targets.

The Eureka deposit boasts a JORC-compliant resource of 112,000 ounces of gold, including 62,000 ounces classified as Indicated. Historical drilling has revealed impressive grades outside the current resource envelope, with intersections such as 4 metres at 134 grams per tonne (g/t) gold, underscoring the prospectivity of the area.

Targeting High-Grade Extensions and New Zones

The drilling program will focus on at least 12 priority targets identified through reprocessing of aeromagnetic survey data. These targets include structural and geochemical anomalies that lie immediately along strike of the existing Eureka Gold Deposit. Javelin’s Executive Chairman Brett Mitchell emphasised the potential for resource growth, stating that the combination of strong targets, historical mining success, and open mineralisation presents a compelling opportunity to add significant shareholder value.

Key objectives include testing the continuation of high-grade mineralisation in the northwest and north zones of the deposit, expanding the supergene zone, and probing mineralisation at depth beneath the current pit. The northern strike extension, which remains inadequately tested, is a particular focus given that previous drilling was shallow and may have missed near-surface mineralisation.

Near-Term Mining and Toll Treatment Studies Underway

Alongside exploration, Javelin is advancing studies to evaluate the feasibility of near-term mining of approximately 30,000 ounces from the southern end of the Eureka pit. This portion of the Indicated Resource is considered recoverable within a pit shell based on a gold price of A$4,000 per ounce. The company is also exploring toll treatment options at nearby mills to expedite production.

With a granted Mining Lease in place and the Western Australian Government’s commitment to fast-track project approvals, Javelin is optimistic about moving towards production within 12 months. Discussions with potential mining contractors are already underway, reflecting the company’s intent to rapidly progress the project.

Strategic Location in a Prolific Gold Belt

The Eureka Gold Project sits within the Kalgoorlie-Menzies greenstone belt, a region renowned for its rich gold endowment. It lies just 20 kilometres from the world-class Paddington gold mine, which has produced over 4 million ounces. The deposit’s geological setting within the Bardoc Tectonic Zone, hosting multiple shear zones and quartz veining, is highly conducive to gold mineralisation.

Historical mining at Eureka dates back to the 1890s, with underground operations continuing until 1940 and open pit mining conducted in the 1980s and 2010s. The combination of historical production, robust resource base, and new exploration targets positions Eureka as a promising asset in Javelin’s portfolio.

Looking Ahead

Javelin’s upcoming drilling results, expected from late March, will be closely watched by investors and analysts eager to gauge the potential for resource expansion and the viability of near-term production. The company’s integrated approach of exploration and mining studies underscores a strategic push to unlock value from Eureka’s gold endowment.