Javelin Minerals Limited (ASX: JAV), a company focused on the exploration and development of resource projects, has announced a significant increase in recoverable ounces at its Eureka Gold Project in Western Australia. The revised mining plan, based on a recently upgraded Indicated Resource, has resulted in a 15% increase in total recoverable ounces, now standing at approximately 39,000. This development is expected to substantially boost the company’s 2026 production and cashflow plans.
Importantly, the grade of the gold has also increased materially, rising by 32% from 1.5 g/t to 1.98 g/t Au. The tonnes to be mined as part of the plan have decreased by 20% to 698,887 tonnes. Javelin is in advanced discussions with mining contractors and nearby processing plants to expedite production and generate cashflow. The company is also progressing approvals and permitting for its mining proposal.
Executive Chairman Brett Mitchell highlighted the economic benefits of the increased recoverable ounces. He stated that the combination of increased ounces and higher grade will significantly boost margins and overall returns from the mining plan. Mitchell also noted the favourable Australian-dollar gold price, the good condition of the open pit, and the potential to process the material at nearby mills, making the mining plan highly attractive.
The Eureka Gold Project is located 50km north of Kalgoorlie and 20km north of the Paddington Gold Mining Project. Javelin is currently advancing mine planning and economic studies for potential near-term mining of the recoverable ounces. The company is also planning a follow-up drilling program aimed at achieving further growth in the Eureka resource, with recent drilling confirming extensive mineralisation beyond the current Resource envelope.
