Javelin Minerals eyes resource expansion at Eureka gold project in WA

• JAV ready to begin resource expansion drilling program at West Australian gold project
• Program backed by recent Right to Mine deal with MEGA Resources
• First mining pencilled in for Q2 2026
• JAV will also diamond drill north of the Eureka pit, following up on historical grades such as 4m at 134g/t gold

Special Report: Javelin Minerals is gearing up for a new diamond drilling program at its Eureka gold project in Western Australia.

The company aims to extend the existing indicated resource of 1.36Mt at 1.8g/t for 78,678oz.

Priority exploration targets include historical high-grade zones to the north of the Eureka pit – which includes 4m at 134 g/t gold – and the known mineralised extensions that plunge to the north-northwest below the current pit.

The drilling is also expected to provide vital technical information for open-pit designs as the project advances towards production in Q2 2026.

It will also generate samples for metallurgical testwork to support third-party ore processing discussions which are now advanced with nearby mill operators.

Notably, all future drilling programs at Javelin Minerals’ (ASX:JAV) brownfields Eureka and Coogee gold projects will be overseen by newly appointed general manager – exploration and resources Mark Cossom.

Cossom is an experienced resources executive who has held several senior operational and leadership roles with ASX-listed mining and exploration companies in Australia and PNG.

He brings particular expertise in mine development, resource growth and corporate management and will oversee the company’s exploration and resource development strategy.

MEGA financing fast-tracks drilling

Late last month the company signed a Right to Mine contract with MEGA Resources, which will undertake mining and haulage to a third-party processing plant, provide geological and engineering services and fund up to A$25m in development and working capital at Eureka.

MEGA is an Australian subsidiary of Bain Global Resources, part of the BGR Mining & Infra group – one of India’s largest mining contractors, with an order book exceeding A$18b.

MEGA was also the cornerstone investor in the company’s recent $4.5m placement, with a $1m commitment.

Watch: New JAV general manager chats strategy, MEGA deal and more

Javelin and MEGA are currently in advanced negotiations with Kalgoorlie plant operators for third-party ore processing for the Eureka gold project.

“We are now aggressively pursuing multiple work streams at Eureka in parallel to ensure we meet our target of first production early in the June quarter of next year, and in parallel we are focused to continue work strategically to aggressively grow the mineable Eureka Resource,” Javelin executive chairman Brett Mitchell said.

“This drilling program will provide the information needed to finalise pit design work and generate samples for metallurgical tests, which will form part of our discussions with nearby ore processors.

“We will also test an area to the north, where historical drilling returned high-grade intersections which have not been adequately followed up.

“This will increase our understanding of the geology and structures that host mineralisation in this area of the deposit, allowing for more confident targeting both along strike to the north, and under the Eureka Pit.”

This article was developed in collaboration with Javelin Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.