Everest Metals drills for more gold and silver with Mt Dimer Taipan mining imminent

• 2500m of reverse circulation drilling underway, targeting resource growth
• Program will focus on infill drilling as well as southern and down-dip extensions
• Results expected to reveal geometry and continuity of the mineralised shear zone
• Mineralisation at the Northern end of the pit also remains open

Special Report: Supported by mining partner MEGA Resources, Everest Metals has initiated a 2,500m drilling program designed to upgrade gold and silver resources at the Mt Dimer Taipan project in WA.

This is capitalising on a Right to Mine agreement in which MEGA has mobilised its mining fleet to prepare for open-pit mining operations and provided $18.6 million in non-dilutive funding.

Everest Metals Corp (ASX:EMC) and MEGA expect to start extracting ore this month and begin toll treatment processing by March 2026 under a circa 200,000 tonnes per year agreement.

In the meantime, EMC intends to upgrade and possibly grow the project’s inferred gold and silver resource of 48,545oz of gold and 89,011oz of silver with the reverse circulation drilling.

Everest Metals executive chair and CEO Mark Caruso said the drilling program was a critical value-add step ahead of mining start-up.

“Mt Dimer remains open to the south and down-dip, and we have strong geological confidence in extending the known mineralised system,” Caruso said.

“With MEGA now on site, we are fully funded to test these high-impact targets without shareholder dilution.

“Assay results due in December will feed directly into mine planning and resource upgrades – positioning EMC for near-term cash flow in a record gold price environment.”

Watch: Everest Metals wins WA Government support for gold drilling

Resource expansion drilling program

The Mt Dimer Taipan drilling program will consist of RC drilling in closely spaced holes designed to:

• Infill and upgrade the existing mineral resource;
• Test southern and down-dip extensions of mineralisation; and
• Define geometry and continuity of the mineralised shear zone.

EMC believes there’s strong potential to extend the project’s mineralised footprint along its southern strike, as shallow scout drilling produced results of 6m at 1g/t Au and 1.7 g/t Ag from 14m.

Everest expects to polish off the drilling program within two weeks, anticipating assay results sometime in December 2025.

The project is fully permitted for mining, with a mining proposal and mine closure plan approved by the Western Australia Department of Energy, Mines, Industry Regulation and Safety.

This article was developed in collaboration with Everest Metals, 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.