Javelin on the run-up for drilling to progress Eureka gold mining plan

Topdrill will drill four diamond holes totalling 935m at the Eureka Gold Pit to provide key information for pit designs and metallurgical characteristics for mining and processing of its ore.

Another two stratigraphic holes totalling 350m will be drilled at Eureka North targeting historical high-grade drill results topping at 4m grading 134.52g/t Au.

This will help define and improve the understanding of structural controls on high-grade mineralised zones ahead of a resource drilling program scheduled to start in February 2026.

Drilling is being carried out as part of Javelin Minerals’ (ASX:JAV) strategy to start mining operations under its Right to Mine deal with mine contractor MEGA Resources in the June quarter of 2026.

“The start of drilling this month will be an important milestone and will help ensure we remain on track to commence mining in the June quarter of next year,” JAV executive chairman Brett Mitchell said.

“We are also progressing our strategy to grow the resource base and production outlook by drilling north of the pit, where high-grade mineralisation has been intersected. This will be followed by a resource RC program in the new year.

“At the same time, discussions are progressing well with nearby mill operators and the engineering studies are being done by MEGA.

“MEGA is providing the development capital in the lead up to mining as part of our contract and we will also receive an advance payment of $250,000 a month once ore processing starts.

“This combination puts us in a strong financial position and means we don’t need to raise further equity ahead of the production startup.”

The Eureka project sits 54km north-northeast of Kalgoorlie in WA’s Eastern Goldfields.

It is close to several operating mills including the Paddington mill 20km to the south with the existing pit remaining in good condition.

Eureka has a resource of 2.04Mt at 1.69g/t – or 110,687oz contained gold.

Of this amount, 1.36Mt at 1.8g/t (or 78,678oz contained gold) is classified under the higher confidence indicated category. This is largely located as immediate strike and depth extensions to the existing Eureka open pit.

These extensions will be the focus of the open pit mining and milling campaign to be undertaken with MEGA.

Discussions are underway with nearby mill operators with the aim of starting ore processing in the September quarter of 2026.

The start of processing will trigger upfront payments of $250,000 per month from MEGA to JAV.