Eureka Gold Project Holds 110,687oz at 1.69g/t as Drilling Begins

Diamond Drilling Kicks Off

Javelin Minerals Ltd (ASX – JAV) has announced the commencement of a critical diamond drilling program at its Eureka Gold Project in Western Australia, starting November 2025. This initiative marks a significant step toward the company’s goal of initiating mining operations by the June quarter of 2026. The drilling will be conducted by TopDrill Pty Ltd, a respected Kalgoorlie-based contractor, under an existing drill-for-equity agreement.

The program includes four geotechnical diamond holes totaling approximately 950 meters at the Eureka Pit, designed to gather essential data for mine design and metallurgical processing. Additionally, two diamond holes targeting about 350 meters will be drilled at Eureka North to better understand the structural controls of high-grade mineralisation zones that have shown exceptional historical gold grades.

Strategic Resource Expansion

Following the diamond drilling, Javelin plans to launch a reverse circulation (RC) drilling campaign in February 2026. This program aims to expand the existing resource base by testing priority exploration targets, including depth extensions beneath the current pit and high-grade zones to the north. The focus on these extensions reflects Javelin’s strategy to grow the resource and enhance the mine plan ahead of production.

The Eureka Gold Project currently boasts a JORC-compliant Mineral Resource Estimate of 2.04 million tonnes at 1.69 grams per tonne gold, containing approximately 110,687 ounces. Notably, 71% of this resource is classified as Indicated, providing a solid foundation for near-term mining activities.

Mining and Processing Partnerships

Mining services will be provided by MEGA Resources, an established Goldfields operator, with mining operations slated to begin in the June quarter of 2026. MEGA has committed $25 million in project financing, underscoring confidence in the project’s viability. Discussions are also progressing with nearby milling operators to facilitate ore processing, targeted for the September quarter of 2026.

Once ore processing commences, Javelin will receive upfront monthly payments of $250,000 from MEGA, providing a steady revenue stream as operations ramp up. The project benefits from granted mining leases and a recently signed Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group, ensuring regulatory and community support.

Looking Ahead

Javelin’s Executive Chairman Brett Mitchell highlighted the importance of the drilling campaign as a milestone that keeps the project on track for production. The company’s strong financial position and secured development capital mean it does not anticipate the need for further equity raises before mining starts. The upcoming drilling results and finalisation of processing agreements will be pivotal in shaping the project’s trajectory.