Western Australian resources explorer Everest Metals (ASX:EMC) says its wholly owned tenements in the Northern Territory have been granted by the state’s Mineral Titles office.
The tenements include 5 mineral exploration licences located northeast of Alice Springs and one mineral exploration licence west of Alice Springs, which in total cover an area of 3,421km-square.
Everest, which has a $19.99 million market capitalisation, notes these 6 licences have been granted for a 6-year period and make up the Amadeus and Georgina projects.
The company notes preliminary desktop studies have already been completed, and it has moved forward with follow-up target generation for battery and critical metals.
Everest has also moved forward with plans for a hyperspectral remote sensing study, as well as a preliminary site visit and reconnaissance program in Q4 2023.
Consultations with Native Title parties and the Aboriginal Areas Protection Authority are expected to follow prior to the start of physical exploration activities.
This work is being conducted as part of the company’s commitment to carrying out exploration within the boundaries of the approved mineral exploration licences and under a mining management plan for exploration.
Speaking on the tenement grants, Everest Metals COO Simon Phillips says: “EMC is pleased to have taken the opportunity to be part of a first-moving group of companies able to secure significant tenure over areas of geological interest in the Northern Territory.
“The company plans to further develop targets for battery and other critical metals over this very large tenure”
The company plans to further develop targets for battery and other critical metals over this very large tenure.
This announcement comes only days after drilling restarted at Everest’s Revere Gold-Copper Project in Western Australia, as announced by the company last week (10 August 2023).
Everest reported drilling had restarted to follow up on and test the copper and gold potential at the project.
Everest Metals is an ASX-listed resource company focused on gold, silver, base metals, and critical minerals discoveries in tier-one jurisdictions.
The company currently holds a portfolio of Western Australian precious metal and battery mineral projects. These projects comprise the Revere, Mt Edon, and Mt Dimer projects.
Write to Adam Drought at Mining.com.au
Images: Everest Metals Corporation
