Javelin Minerals Limited Sees Significant Boost in Recoverable Ounces at Eureka Gold Project

Strategic Insights -

Javelin Minerals Limited (ASX: JAV) has announced a 15% increase in the total recoverable ounces at its Eureka Gold Project in Western Australia, with revised recoverable ounces now standing at approximately 39,000. The company has also seen a significant increase in the head grade from 1.5g/t to 1.98g/t Au, with the new Eureka pit optimisation study, completed by Gary McCrae of Minecomp Pty Ltd, playing a crucial role in this increase. This boost in recoverable ounces is expected to deliver a major economic windfall for Javelin on the commencement of mining at Eureka.

Key Takeaways:

  • Javelin Minerals Limited has announced a 15% increase in the total recoverable ounces at its Eureka Gold Project, with revised recoverable ounces now standing at approximately 39,000.
  • The head grade has increased from 1.5g/t to 1.98g/t Au, making the project more economically attractive.
  • The company is advancing discussions with mining contractors and milling operators for mining the Eureka ore in 2026.
  • Recent RC drilling has confirmed extensive mineralisation beyond the current Resource envelope, with multiple intercepts highlighting both lateral and depth potential.
  • The Eureka Gold Project hosts significant upside, providing a strong foundation for ongoing resource growth and mine planning work.
  • Javelin is planning a follow-up drilling program aimed at achieving further growth in the Eureka resource.
  • The updated Eureka mineral resource estimate has been classified as an Indicated category with a 0.5 g/t gold cut-off.
  • The indicated status contains 71% of the total ounces within the Eureka Deposit, with the remaining 29% composited within the Inferred classification.
  • The mineralisation recognised in recent drilling to the immediate south of the Eureka Pit has open strike potential to the south, and to the immediate north of the Eureka Pit, a series of historical drill intersections highlighted the potential for a new north plunging high-grade shoot of mineralisation.

Statistics:

  • The revised recoverable ounces now stand at approximately 39,000.
  • The head grade has increased from 1.5g/t to 1.98g/t Au.
  • The updated Eureka mineral resource estimate reports a total of 2.04Mt @ 1.69 g/t Au for 110,687 ounces of gold.
  • 71% of the total ounces within the Eureka Deposit are classified as Indicated.
  • The remaining 29% is composited within the Inferred classification.

Sources:

  • Javelin Minerals Limited (ASX: JAV) news release.
  • Gary McCrae, Minecomp Pty Ltd, Eureka pit optimisation study.
  • Alf Gilman, independent mineral resource review.