Javelin Minerals (ASX:JAV) announced a binding agreement to acquire the Central Yilgarn Gold Project.
The acquisition, finalised on March 12, secures a massive 690km2 landholding located near Sandstone, positioned within the heart of a highly prospective Archean greenstone belt.
The deal, valued at $585,000 in upfront consideration paid via JAV shares, involves the dual acquisition of the CY Exploration and Bulga Minerals projects.
The site is a "near-neighbour" success story, adjoining the northern border of Dreadnought Resources’ Illaara Gold Project—a site renowned for returning high-grade gold intersections.
Despite its prime location, the Central Yilgarn remains largely unexplored, presenting Javelin with a rare, underexploited opportunity in a proven mining region.
The project becomes the third Western Australian gold asset in Javelin’s portfolio, complementing the existing Coogee and Eureka projects near Kalgoorlie.
Leadership at Javelin has signalled that work will commence immediately following the transaction's completion.
The initial exploration phase will focus on geophysical surveys and sampling to fast-track priority drilling targets situated directly north of the Illaara boundary.
At the time of reporting, Javelin Minerals’ share price was $0.12.