Eureka Gold Project’s Indicated Resource Climbs to 78,678oz at 1.69g/t Grade
Javelin Minerals has announced a significant 27% increase in the Indicated Resource at its Eureka Gold Project in Western Australia, alongside a 16% grade improvement, setting the stage for expanded near-term mining plans.
- Indicated Resource rises 27% to 78,678 ounces
- Total Mineral Resource Estimate now 110,687 ounces at 1.69 g/t gold
- Resource upgrade driven by successful maiden drilling program
- Additional mineralisation lies beneath existing open pit
- Near-term mining plans targeting 34,000 recoverable ounces in 2026
Resource Upgrade Highlights New Potential
Javelin Minerals Limited (ASX – JAV) has delivered a robust update to its Eureka Gold Project in Western Australia, reporting a 27% increase in the Indicated Resource to 78,678 ounces of gold. The total Mineral Resource Estimate (MRE) now stands at 110,687 ounces at an improved grade of 1.69 grams per tonne, marking a 16% increase in grade compared to previous estimates. This upgrade reflects the success of Javelin’s maiden drilling program completed in April 2025 and underscores the project's growing potential.
Strategic Location and Mining Readiness
The Eureka Gold Project is strategically positioned on granted mining leases approximately 50 kilometers north of Kalgoorlie and close to established processing infrastructure, including the Paddington Mill located 20 kilometers south. The existing open pit remains in good condition, providing a ready platform for resuming mining activities. Importantly, much of the additional Indicated Resource lies directly beneath the southern end of the current pit, aligning well with Javelin’s near-term development strategy focused on rapid cash flow generation.
Advancing Mining Plans and Economic Studies
Javelin is actively progressing mining plans, approvals, and economic studies targeting approximately 34,000 recoverable ounces within the southern pit area. The recent resource upgrade has prompted the company to reassess its mining plan to potentially incorporate the newly identified ounces, which could expand production profiles beyond initial expectations. Discussions with contract mining and processing operators are underway, aiming for mining commencement in 2026.
Exploration Upside and Future Drilling
The updated MRE is supported by extensive drilling data, including 323 drill holes totaling over 38,500 meters, and advanced geological modeling compliant with the JORC 2012 Code. Mineralisation remains open along strike and at depth, with recent drilling confirming extensions beyond the current resource envelope. Javelin plans further drilling programs to test down-dip extensions and upgrade additional inferred resources to indicated status, signaling strong exploration upside.
Technical Rigor and Confidence
The resource update was independently estimated by Odessa Resources Pty Ltd using state-of-the-art software and rigorous statistical methods. The classification of 71% of the resource as Indicated reflects high confidence in the geological continuity and grade distribution. While metallurgical assumptions are based on analogous deposits, the company anticipates recoveries of 95% for oxide and transition ore and 90% for fresh ore, supporting economic extraction prospects.
Bottom Line?
Javelin’s resource upgrade at Eureka not only strengthens near-term mining prospects but also opens the door for further exploration-driven growth.
Questions in the middle?
- How will the updated resource impact Javelin’s production and cash flow forecasts?
- What are the timelines and hurdles for securing mining approvals and finalising contracts?
- To what extent can further drilling convert inferred resources and expand the mine life?
