Mt Dimer Taipan has been revealed to support a small-scale open pit mining operation on a toll-treatment basis. Pic: Getty Images
EMC submits mining proposal to begin mining Mt Dimer
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- A mining proposal has been submitted to begin mining the Mt Dimer Taipan project
- Negotiations for toll treatment options with neighbouring mills have advanced
- Mining activities expected to commence in Q2 CY 2025
Special Report: Everest Metals Corporation has submitted a mining proposal to begin mining at the Mt Dimer Taipan gold-silver project, 150km west of Kalgoorlie.
Everest Metals Corporation (ASX:EMC) has a portfolio of lithium and base metals projects scattered across WA including the Revere gold project, Mt Edon critical mineral project and the Mt Dimer Taipan gold-silver project.
Mt Dimer boasts near-term production potential with a resource of 722,000t grading 2.1 g/t gold and 3.84 g/t silver, for contained resources of 48,545oz gold and 89,011oz silver.
In the 1990s, historical open-cut mining at Mt Dimer produced ~8,500oz of gold but at current prices, EMC chief operating officer Simon Phillips is confident that a short campaign at the project will deliver significant profits thanks to its grade, the existing mining lease and several toll treatment options.
“When we finish the bulk sampling program at Revere, we will come back to Mt Dimer and lodge a mining proposal, that’s our gold plan,” Phillips said to Stockhead back in May.
Mining to kick start next year
Those plans are now coming to fruition for EMC with a mining proposal lodged to the Western Australia Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for open pit mining activities at Mt Dimer.
Significant work was completed during the process including a geotechnical study, hydrogeological modelling, baseline environmental study, flora and fauna surveys, environmental risk management, waste rock and soil characterisation.
EMC intends to begin mining in Q2 CY25 once the assessment process has been cleared by DEMIRS, which will likely take about three months.
The proposal will now be reviewed by the various authorities and the company anticipates receiving approvals in late 2024.
A potential profitable mining operation
“With the Australian gold price comfortably above $3,500 per ounce, EMC’s Mt Dimer Taipan gold-silver project provides an attractive proposition to mine, particularly in light of nearby processing options which are ore hungry,” Phillips said.
“We have now met a key project milestone in the fast tracking of the Mt Dimer Taipan project which has the potential to become a profitable mining operation in Q2 CY 2025.”
What else is on the cards?
The ore is planned to be processed at one of several nearby mills in Kalgoorlie with mining to be undertake by a small mining fleet of 55 tonne articulated dump trucks and a 60-tonne excavator.
EMC has progressed negotiations for toll processing with nearby mills in the region and remains confident the resource remains open to the south and down dip, with the possibility of mineralisation extending beyond the current drilling area.
The company received a POW approval from DEMIRS to conduct further infill RC drilling, planned for the December 2024 quarter.
This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
