The company has entered advanced discussions with third-party mining and processing contractors as it targets the recovery of 34,000 ounces of gold from within the 62,000-ounce Indicated Resource at the Eureka open pit. The pit is part of the project’s broader JORC-compliant resource base, which totals 112,000 ounces.
“Our plan to generate early production and cashflow at Eureka is now the primary focus of the board,” said Javelin executive chairperson Brett Mitchell. “This strategy has been strongly supported by interest from potential partners keen to participate in the project’s short-term development.”
Located approximately 50 kilometres north of Kalgoorlie and just 20 kilometres from the Paddington gold processing facility, Eureka is situated on four granted mining leases. Javelin noted that, due to the project’s fully permitted status and standard industry timelines, mining operations could commence within 12 months.
“Based on our discussions to date, we are confident this approach will unlock rapid value—particularly in the context of current gold prices—while we continue our exploration efforts to expand the resource base at both Eureka and our nearby Coogee project,” Mitchell added.
Mining and engineering studies at Eureka are already well advanced, and contractor negotiations are ongoing. The existing open pit is reported to be in sound condition, with recent reverse circulation drilling identifying significant mineralisation outside the current resource boundary. These include shallow mineralisation zones south of the pit and a high-grade shoot to the north.
Javelin’s accelerated strategy aims to generate early-stage cash flow while de-risking future project expansions through ongoing exploration and strategic partnerships.
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