Javelin Minerals has obtained final authorisation from the Western Australian Department of Mines, Petroleum and Exploration to begin mining activities at its Eureka Gold Project, located north of Kalgoorlie.
The department has approved the Mining Development and Closure Proposal (MDCP), marking the last permit for the project, and making Eureka ready for construction and production.
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The Eureka Gold Project has an established Joint Ore Reserves Committee (JORC) mineral resource of 2.04 million tonnes (mt) at a grade of 1.69 grams per tonne (g/t) of gold, totalling 110,687 ounces (oz).
Within this estimate, an indicated resource stands at 1.36mt at 1.8g/t for 78,678oz.
Recent drilling has both confirmed and expanded the known gold zones at Eureka and Eureka Northwest, supporting plans for open pit mining.
Results include intersections such as 4m at 2.7g/t from 91m and 5m at 2.1g/t from 45m, among other reported figures.
The main Eureka orebody remains open down-plunge to the north, indicating potential for further extension.
Javelin intends to finish drillholes EKRC011 and EKRC012 using diamond tails to investigate the northern reach of the high-grade mineralisation at depth, as the main Eureka orebody continues in a northward direction.
Alongside operational developments, Javelin signed a right to mine agreement with MEGA Resources, a mining services provider in the Goldfields region.
The agreement includes a commitment from MEGA to provide A$25m ($17.9m) in project financing.
This funding is expected to cover the costs of bringing Eureka into production and achieving positive cashflow, subject to completion of an ore purchase agreement.
Once ore processing begins, MEGA will make monthly prepayments of A$250,000 to Javelin from its share of future profits.
The company is continuing discussions with local mill operators in an effort to start processing ore from Eureka as soon as possible.
