Everest Metals Corporation (ASX:EMC) has begun mining at the Mt Dimer Taipan Gold Project, 150km northwest of Kalgoorlie in Western Australia, together with MEGA Resources.
The mining operations come following the completion of efficient groundwork including the recent resource upgrade drilling, moving Mt Dimer into active production.
Mt Dimer Taipan hosts an inferred mineral resource of 722,000 tonnes @ 2.10 grams per tonne gold (48,545 ounces gold) and 3.84g/t silver (89,011 ounces silver).
The project is fully funded under a Right to Mine Agreement, conducted with MEGA Resources, with MEGA funding up to $18.6 million in non-dilutive capital, as previously reported. There are no upfront costs to Everest, with the company’s operational cash flow reimbursing the expenses of the mining. The net surplus will be equally shared between the two parties.
Executive Chairman Mark Caruso says that the company is pleased with the rate progress at Mt Dimer.
“In under four months from receiving final approvals, we’ve transitioned from exploration drilling to active mining – a clear demonstration of our team’s execution capability and the strength of our MEGA partnership,” Caruso says.
“With mining now underway and toll-treatment on the horizon, Mt Dimer is perfectly positioned to deliver near-term cashflow in a very strong gold market.”
Everest Metals is focused on gold, silver, base metals, and critical minerals resources, with projects in Western Australia.
Write to Amy Rotman at Mining.com.au
Images: Everest Metals
