Resource Expansion at Eureka Hinges on Follow-Up Drilling and Approvals
Javelin Minerals’ maiden drilling at the Eureka Gold Project reveals significant high-grade gold mineralisation outside the existing resource, setting the stage for near-term mining and resource expansion.
- High-grade gold intercepts extend beyond current 112,000oz resource
- Shallow oxide mineralisation delineated south of Eureka open pit
- New high-grade shoot confirmed north of existing pit
- Near-term mining plans target ~34,000 recoverable ounces
- Follow-up drilling and engineering studies underway
Strong Maiden Drilling Results at Eureka
Javelin Minerals Limited (ASX: JAV) has announced encouraging results from its first drilling campaign at the Eureka Gold Project, located just 50 kilometres north of Kalgoorlie. The program, comprising 22 reverse circulation drill holes totalling 2,779 metres, has delivered multiple high-grade gold intercepts outside the boundaries of the existing 112,000-ounce resource.
Significant intercepts include 26 metres at 1.36 grams per tonne gold from 45 metres depth and a standout 2 metres at 7.37 grams per tonne from 64 metres, confirming the presence of both shallow and deeper mineralisation zones. These results highlight the potential to expand the current resource base and extend mining operations.
Expanding the Resource Envelope
The drilling has delineated a shallow oxide gold zone approximately 100 metres south of the existing Eureka open pit, an area previously unmined but now identified as a priority exploration target. Additionally, a high-grade shoot has been confirmed immediately north of the pit, opening new avenues for resource growth.
Javelin’s exploration team has interpreted the mineralisation as part of a north-plunging gold system with multiple higher-grade domains stepping down at depth. This geological understanding will guide the next phase of drilling aimed at further resource expansion beneath and adjacent to the open pit.
Near-Term Mining and Strategic Plans
With a JORC 2012 Resource of 2.45 million tonnes at 1.42 grams per tonne gold, including 62,000 ounces classified as Indicated, Javelin is advancing engineering and approvals to commence near-term mining. The initial focus is on extracting approximately 34,000 recoverable ounces from the southern end of the Eureka Pit.
The company is actively engaging with local contract miners and exploring toll treatment options at nearby processing facilities, aiming to streamline the path to production. These operational plans, combined with the promising drilling results, underscore Javelin’s strategy to restart mining at Eureka in the near future.
Looking Ahead: Follow-Up Drilling and Exploration
Javelin is preparing follow-up drilling programs to infill and extend the newly identified mineralised zones. Planned activities include additional reverse circulation drilling to test the southern and northern extensions of the pit, as well as diamond drilling to better understand the structural controls and down-plunge extensions of the mineralisation.
While a recent drilling campaign at the Northwest Zone 600 metres north of the pit did not replicate historical high-grade results, the company plans targeted diamond drilling to refine geological models and guide future exploration efforts.
Overall, the recent drilling success provides a robust foundation for resource growth and mine planning, reinforcing the Eureka Gold Project’s potential as a significant contributor to Javelin’s portfolio.
Bottom Line?
Javelin’s Eureka drilling breakthrough sets the stage for resource growth and a potential mining restart, but follow-up results and approvals will be critical.
Questions in the middle?
- How will follow-up drilling refine the size and grade of the expanded resource?
- What timelines are expected for mining approvals and commencement?
- Could toll treatment agreements accelerate production at Eureka?
