Maiden drilling program to start at Eureka gold project as Javelin Minerals eyes production in next 12 months

Action is about to begin in earnest at the Eureka gold project north-west of Kalgoorlie-Boulder, with owner Javelin Minerals eying production in the next 12 months. Javelin told the Australian Securities Exchange on Wednesday that its maiden drilling program would start now a heritage survey involving the Marlinyu Ghoorlie Indigenous group had been completed. The company said Kalgoorlie-Boulder contractor Topdrill would undertake the 3000m reverse circulation program under a drill-for-equity arrangement. Javelin said drilling would test high-priority exploration targets around the existing pit as well as north of the pit. This would include following up historical intersections such as 4m at 132g per tonne, 3m at 48g/t, and 4m at 32g/t. The company said Eureka was 54km north-west of Kalgoorlie-Boulder and sat on a granted mining lease. It had a mineral resource estimate of 2.45 million tonnes at 1.42g/t for 112,000 ounces of gold, including 62,000oz in the indicated category, and was open along strike and at depth. Javelin said it was aiming to mine 30,000-34,000oz of the indicated resource in the southern end of the pit and toll treating it at a nearby mill. The company said given the WA Government’s recent commitment to fast-track project approvals, Eureka could be in production within 12 months. Javelin executive chairman Brett Mitchell said there had been been little or no modern exploration at Eureka, and the company believed “there is immense upside to be unlocked by applying modern exploration techniques and the latest technology”. The Eureka gold deposit was first discovered in the 1890s, with historical underground mining worked until 1940. Javelin said recorded production from 1897 up to 1940 totalled 809 tonnes averaging 27.8g/t. The company said from 1985 to 1988 mining of the Eureka open pit included 220,000 tonnes at 4.5g/t for 32,000oz by West Coast Holdings. In 2018, Tyranna Resources also mined 50,600 tonnes of ore grading 3.16g/t for 5374oz.