Everest Metals’ gold strike at Revere gets bigger

Phase 2 bulk sampling delivers more near-surface high-grade gold at Revere
The results have identified a geological mineralised zone over a width of least 90m and 280m strike to a depth of 130m
Everest Metals is now planning a 5,500m drill program to test the repeatability of a reef system over the 7km geological structure

Special Report: Assay results from drill and blast works undertaken as part of the bulk sampling program has intersected high-grade gold close to surface at the Revere project in WA’s Murchison region.

Everest Metals Corporation (ASX:EMC) is undertaking a 36,000-tonne bulk sampling program at the Revere gold project in WA to enhance its understanding of the mineralised system

The program is focused on just 700m of a potential 7km strike length, providing exploration upside and plans to process gold mineralised material from the bulk sampling program to a gold concentrate.

Revere sits proximal to, and along strike from, the DeGrussa and Monty copper-gold mines 55km southeast, as well as the Andy Well gold mine 40km to the southwest.

The recent expansion of the company’s tenement holdings at Revere with the granting of an additional 84sq km exploration licence continues to consolidate its footprint of this highly prospective area.

It has also allowed the explorer to expand its exploration efforts and test the potential of a larger scale project for future development.

Phase 2 bulk sampling results

EMC has received the assay results from Phase 2 bulk sampling, which continued with 209 blast holes for a total of 2,090m,100m northeast of the initial drill and blasé area at Pit 2.

A total of 2,090 samples were sent to the ALS laboratory in Perth, demonstrating the extension of the previously bulk sampled high-grade north-westerly dipping mineralised limb along an anticlinal axial plane that strikes over a distance of at least 280m.

Blasting hole results include hole H13-9 returning 1m at 81.4g/t gold, hole H12-8 returning 1m at 96.9g/t Au, hole H13-8 returning 1m at 38.7g/t Au and hole H33-8 at 1m at 21g/t gold.

Results from the newly drilled blast holes are higher than that of the current bulk sampling area, EMC said, and have identified a structural geological mineralised zone over at least 90m in width and 280m on strike from surface to a depth of 130m.

The 280m zone is within an immediate target area with previously identified gold mineralisation of at least 700m along strike that forms part of the 7km Revere Reef gold system.

Drilling on the fast track

“These bulk sampling results of Pit 1 are significant,” EMC executive chairman and CEO Mark Caruso said.

“We have tested only 10% of what we believe to be a 7km strike target of the structural geological mineralised high-grade reef system.

“We are planning an acceleration of our current exploration program to determine the limits of this system through another 5500m of drilling aligned with our ongoing bulk sampling and processing campaigns.

“There is no doubt in the near term not only we will expand the current limits of our exploration footprint but also, we will deliver a maiden resource at Revere.”

What’s next?

The bulk sampling program will be completed over the December 2024 quarter to provide geo-metallurgical variability data as well as confirming geological assumptions in relation to the mineralised system.

It will also assist EMC in identifying the extent of the mineralisation in just a small section (about 10%) of the 7km’s of identified Revere Reef.

Following the bulk sampling program, EMC will progress a 5,500m air core drilling program along the Revere Reef to establish additional JORC compliant resources with near surface gold potential along the greater part of the Revere Reef system.

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.