Javelin launches Eureka drilling as expanded lease clears path to near-term gold mining

The latest announcement is out from Javelin Minerals Limited ( (AU:JAV) ).

Javelin Minerals has commenced a reverse circulation drilling program at its Eureka Gold Project in Western Australia to test along-strike and down-plunge extensions of known high-grade mineralisation beyond the current indicated resource of 1.36Mt at 1.8g/t gold. The program aims to identify additional mineable ore that could extend the resource and future mine life, thereby increasing the value of the Eureka asset for shareholders.

The company has secured an expanded mining lease at Eureka, enabling a larger pit cutback and keeping its Mining Development and Closure Plan approvals on track ahead of near-term mining. Under its existing 50/50 profit-share joint venture with MEGA, Javelin will receive advance monthly payments once gold revenues start and can elect to mine any new ounces outside the approved plan on a more favourable 70/30 profit split, enhancing its potential upside from successful drilling.

The most recent analyst rating on (AU:JAV) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Javelin Minerals Limited stock, see the AU:JAV Stock Forecast page.

More about Javelin Minerals Limited

Javelin Minerals Limited is an Australian gold exploration and development company focused on the Eureka Gold Project, located about 50km north of Kalgoorlie in Western Australia. The company is advancing Eureka toward near-term open-pit production under a joint venture with MEGA Resources, targeting cashflow from high-grade gold mineralisation and ongoing resource growth.

Average Trading Volume: 1,001,270

Technical Sentiment Signal: Sell

Current Market Cap: A$23.92M

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