Everest Metals (ASX:EMC) and Australian privately held company Entelechy Resources have completed the Revere Gold and Mt Edon LCT projects joint venture (JV) agreement transactions.
Following the completion of both transactions, Everest Metals now holds a 51% interest in the Revere Gold and Mt Edon LCT projects, with the ability to increase to 100% ownership.
At Mt Edon, the company is due to complete a Deep Ground Penetration Radar (DGPR) geophysical survey, which will further refine pegmatite structure knowledge in preparation for drilling beginning in Q2 2023.
“We are delighted to have both the Revere JV and Mt Edon JV reach completion, taking EMC to 51% ownership of the projects”
Commenting on the completion of transactions to acquire the Revere Gold and the Mt Edon LCT projects, Everest Metals Chief Operating Officer, Simon Phillips says: “We are delighted to have both the Revere JV and Mt Edon JV reach completion, taking EMC to 51% ownership of the projects.
The Mt Edon LCT Pegmatite Project has an extensive array of pegmatite outcrops and EMC looks forward to providing further details on the drilling program scheduled in Q2 2023 at this highly fertile field.
The Revere Gold Project is an advanced asset with significant gold and copper potential, both at surface and at depth. EMC’s recent geophysical modelling and metallurgical test work results have provided us with clear DeGrussa Style targets for our forthcoming deep diamond drilling program scheduled Q2 2023.”
Everest Metals is now planning a bulk sampling program at the Revere Gold Project, coupled with a deep diamond drill program.
The Revere Gold Project is located along an inferred extension of the Andy Well Greenstone shear system, along strike from the DeGrussa copper-gold mine. The project contains the Revere Reef System, which is a richly endowed series of gold reefs, highly mineralised from surface.
The Mt Edon LCT Project is located in the southern portion of the Paynes Find Greenstone Belt, which is an area known to host an extensive pegmatite field and is considered ‘highly’ prospective for lithium, caesium, tantalum, and rubidium mineralisation.
Everest Metals is a Western Australian resource company, focused on discovering gold, silver, base metals, and critical minerals in Tier 1 jurisdictions. The company has ‘high-quality’ precious metal, battery metal, and critical mineral projects in Australia including the Ninghan, Rover, Mt Dimer Gold, and Yarbu Gold projects.
Images: Everest Metals Corporation Ltd
