Everest Metals (ASX:EMC) has hit up to 85.1 grams per tonne (g/t) gold, as the company prepares to begin processing at the Revere Gold and Base Metal Project in Western Australia.
Assay results from drill and blast works, conducted as part of a bulk sampling program, returned “high-grade” gold including 1m @ 85.1g/t gold from 9m; 1m @ 43.4g/t gold from 8m; and 1m @ 30.5g/t gold from 5m.
The latest assays from bulk sampling and blast hole drilling, combined with historical reverse circulation drilling, have identified a structural geological mineralised zone over at least 90m in width and 280m on strike from surface down to a depth of 130m.
Everest Metals, which has a market capitalisation of $25.14 million, is carrying out a 36,000-tonne bulk sampling program at Revere to enhance its understanding of the mineralised system and is focused on 700m of a potential 7km strike length.
The company plans to process gold mineralised material from the bulk sampling program to a gold concentrate.
CEO Mark Caruso says the company is planning to accelerate the current program to determine the limits of this system through another 5,550m of drilling, aligned with the ongoing bulk sampling and processing campaigns.
“There is no doubt in the near term not only we will expand the current limits of our exploration footprint but also, we will deliver a maiden resource at Revere,” Caruso says.
This news comes after Everest Metals revealed that a 10-tonne-per-hour mobile gravity Gekko processing plant will be mobilised to Revere over the coming week.
Everest Metals says this system is engineered to produce a concentrate, helping to monetise mineralised material at the project. All site civil and earthworks have been completed.
Caruso says the mobilisation of the plant allows for the company to kickstart processing of the mineralised stockpile, while also taking advantage of record high gold prices and helping monetise the company’s development.
“This is an exciting step as we work towards our inaugural JORC mineral resource estimate for the project,” he says.
“The recent expansion of our tenement holdings at Revere with the granting of an additional 84km2 exploration licence continues to consolidate our footprint of this highly prospective area and will allow us to expand our exploration efforts and test the potential of a larger scale project for future development.”
The Revere Project lies 90km northeast of Meekatharra in the Murchison Region of Western Australia. The tenement package covers 171km2 and comprises 10 tenements, as well as two pending applications.
Everest Metals is a diversified mineral explorer focused on gold, silver, base metals, and critical minerals in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Everest Metals
