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Javelin Minerals Limited (ASX:JAV)

ALERT: Price-sensitive ASX Announcement for JAV
Current share price for JAV : $0.075 -0.04 (-34.78%)+
Announcement
Release
26 Mar 2026 9:45AM
Price at Release
$0.115
Full Release
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Summary
Javelin Minerals Limited has initiated a Reverse Circulation (RC) drilling program at the Eureka Gold Project in Western Australia to extend mineralisation beyond the current planned open pit. This initiative is part of Javelin's strategy to increase the existing Eureka Mineral Resource, currently at 1.36 million tonnes at 1.8g/t Au. The program aims to explore high-grade mineralised extensions both along strike and down plunge. The project has also received an expanded Mining Lease, allowing for a larger pit cutback. Under a joint venture agreement with MEGA Resources, Javelin will share profits equally from the approved Mining Plan and will have a more favorable 70/30 profit share for new ounces discovered outside this plan.
Key Points
  • Reverse Circulation (RC) drilling program commenced at Eureka.
  • Drilling targets extensions to high-grade mineralisation along strike and down plunge.
  • Expanded Eureka Mining Lease granted, increasing pit cutback area.
  • Javelin plans to grow Eureka's current Indicated Resource of 1.36Mt at 1.8g/t Au.
  • Javelin and MEGA Resources have a 50/50 profit share agreement on approved Mining Plan.
  • New Eureka ounces discovered outside the current Mining Plan have a 70/30 profit share in Javelin's favor.
  • Plan consists of 38 RC holes for 5,570 meters testing mineralised trends north and south of the pit.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.