Everest Metals (ASX:EMC) has identified extensive uranium and sedimentary base metal targets at the Georgina and Amadeus Projects in the Northern Territory, via interpreting geophysical data.
The company plans to prioritise these targets in the coming months for follow-up exploration work in Q3 2024.
Reconnaissance fieldwork, alongside a helicopter borne electromagnetic, magnetic, and radiometric survey will be conducted over the target areas.
Everest, which has a market capitalisation of $18.10 million, engaged with consultants and contractors Resource Potentials for modelling and interpretation of existing geophysical data over both projects.
Modelling and reinterpretation identified high-priority target areas spanning 220km2 have been delineated across 10 specific targets.
At the Georgina Project, regional radiometric data shows multiple ‘large’ and high-amplitude uranium anomalies that stretch over at least 50km of aggregate strike.
At the Amadeus Project, geophysical data interpretation also highlighted multiple base metal magnetic targets.
“The utilisation of modern technology to reinterpret historical geophysical data underscores the potential for uranium and sedimentary copper-lead-zinc mineralisation to be hosted within the Georgina and Amadeus projects, with the world-class Arafura Rare Earths Project residing between both projects,” CEO and Executive Chairman Mark Caruso says.
Everest has submitted an application for the Northern Territory’s Geophysics and Drilling Collaborations program, while an application to undertake regional-scale geophysics will be submitted this month.
Subject to the application’s approval, the government will reimburse Everest up to $100,000 for each geophysical survey.
The company’s Northern Territory tenement package covers a 10,207.48km2 area comprising two projects, Georgina and Amadeus.
Everest Metals is a Western Australian resources company focused on discovering gold, silver, base metals, and critical minerals in tier one jurisdictions.
Write to Aaliyah Rogan at Mining.com.au
Images: Everest Metals
