Javelin Minerals Limited (ASX:JAV) Announces Maiden Drilling Program at Eureka
Drilling Program Launch
Javelin Minerals Limited (ASX:JAV) has initiated its maiden drilling program at the Eureka Gold Project near Kalgoorlie, scheduled to start in early March. The program aims to extend established high-grade lodes and test new exploration targets identified from aeromagnetic survey data.
Resource and Mining Plans
The Eureka project boasts a JORC-compliant resource of 112,000oz gold, including 62,000oz in the Indicated category, with resources open along strike and at depth. Alongside drilling, Javelin is conducting mining and toll treating studies for the near-term extraction of approximately 30,000oz from the southern pit.
Executive Comments
Executive Chairman Brett Mitchell stated, “We have identified numerous highly promising structural and geochemical drilling targets at Eureka. Some of these are supported by high-grade drilling intersections nearby and others represent potential extensions of known mineralisation. There is clearly huge potential to create significant shareholder value by testing these targets and ultimately growing the resource. Our confidence in the outlook for Eureka is underpinned by the strength of the targets, the mining history, the existing JORC Resource and the open mineralisation. There is also scope to generate substantial cashflow in the near term by mining the existing Indicated Resource and therefore we are moving quickly to assess this option.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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