Javelin Minerals on the fast track towards Eureka golden moment

• JAV is advancing the brownfields Eureka gold mine into production within 12 months
• With near surface minable resource, JAV wants to take advantage of record gold prices
• Exploration also planned to grow the existing resource

Special Report: Javelin Minerals is charging ahead with its strategy to mine the ~34,000 recoverable ounces at its Eureka Gold Project near Kalgoorlie in WA.

The project hosts a resource of 2.45mt at 1.42g/t Au for 112,000 ounces, including 62,000oz indicated.

Discussions with mining and processing contractors are materially advanced, which means Javelin Minerals (ASX:JAV) is closing in on the goal of unlocking the substantial value of this resource in a cost-effective and timely manner.

Considering the gold price is above A$5100 the timing couldn’t be better to get a gold project up and running, and with a ~34,000 recoverable ounces that’s a lot of money.

The company is considering several options for milling nearby, including the Paddington gold operations owned by Zinjin Mining Group Co just 20km away.

Engineering studies and the approval process for the restart of mining are well advanced, with the board aiming to be mining within 12 months.

Room to grow gold resource too

The mining strategy is being advanced in parallel with exploration at Eureka and a new drilling program is planned to follow up strong results next to and below the Eureka pit.

These areas are considered to be priority exploration targets with excellent potential to grow the resource, both at Eureka and their Coogee gold project nearby.

“Our plan to generate early production and cashflow at Eureka is now the primary focus of the Board for the Eureka gold project, which has been endorsed by strong interest from third parties to partner with us for the project’s development in the short term,” JAV executive chairman Brett Mitchell said.

“Based on the discussions to date, we are confident that this strategy will prove extremely effective in creating rapid value in the current record high A$ gold price environment, whilst we continue the exploration program to grow the overall inventory at both our Eureka and Coogee gold projects.

“Our first Eureka drilling program identified shallow mineralisation immediately south of the pit and confirmed the presence of a high-grade shoot to the north.

“We are now planning follow up exploration drilling programs at Coogee and Eureka in parallel with the Eureka near term mining plan, giving us a twin-pronged strategy for material growth of shareholder value in our company”

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.