Processing of bulk samples to produce gold concentrate will help Everest Metals monetise its Revere project. Pic: Getty Images
Gold processing imminent at Everest Metals’ Revere project
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- Everest Metals mobilising mobile Gekko gravity processing plant to the Revere gold project in WA
- Plant will process ore bulk sampling as EMC moves to establish a maiden JORC resource in line with the current exploration target of 330 000 ounces
- Production of gold concentrate from the high grade reef system and associated mineralised halo puts EMC in a unique funding position of its exploration program, particularly at a AUD 4 200/oz gold price
Special Report: Everest Metals will soon start processing of bulk sampled ore at its Revere gold and base metals project in WA into gold concentrate with the mobilisation of a Gekko gravity plant to site.
While not a full development of the project, the ability to produce gold concentrate from Revere bulk samples will both prove its amendability to simple gravity processing as well as capitalise on the current high price of a precious metal now trading at ~ AUD $4238/oz.
Everest Metals Corporation (ASX:EMC) is undertaking the current 36,000t bulk sampling program to improve its understanding of the mineralised system and already has a stockpile of 8000t of ore ready to undergo final gold-extraction processing.
To top it off, this program is focused on just 700m of a potential 7km of strike, providing plenty of exploration upside.
“The bulk sampling program continues to uncover and enhance our understanding and unlock the potential of the Revere Reef system which, through the current program, has been tested for 700m along strike of a known 7km identified saddle reef system which is out-cropping at surface and continuing at depth,” executive chairman Mark Caruso said.
“The imminent mobilisation of the Gekko Gravity Plant allows for the commencement of processing of high-grade and low-grade mineralised stockpile, taking advantage of the record high gold prices and helping to monetise our development.
“This is an exciting step as we work towards our inaugural JORC MRE for the project.
“The recent expansion of our tenement holdings at Revere with the granting of an additional 84km2 exploration licence continues to consolidate our footprint of this highly prospective area and will allow us to expand our exploration efforts and test the potential of a larger scale project for future development.”
Bulk sampling program
Under Phase 1 of the bulk sampling program, the company had used mobile jaw and cone crushers to crush and screen Revere ore between August and mid-September, resulting in more than 8000t of material being finely crushed to under 5mm and stockpiled for processing.
Phase 2 of drilling and blasting was completed in mid-September 2024, for a total of 2,090m through 209 precisely spaced holes, each 10m deep.
Sample results from these holes have been received and will be released once data interpretation is complete.
With all site works and earthworks now successfully completed, EMC is mobilising a mobile Gekko gravity processing plant with the capacity to process 10t of ore per hour to Revere over the next week.
This system is engineered to produce a concentrate, which will help monetise the high-grade mineralised material at the project.
Revere project
The Revere project, which sits within the Andy Well Greenstone Shear System along strike from the DeGrussa and Monty copper-gold mines, covers 171km2 and includes a system of richly endowed gold reefs.
At least one of these reefs has been interpreted to share similarities to the world-class Bendigo gold province of Victoria, which includes the legendary Fosterville gold mine.
However, Revere trumps the Bendigo goldfield as its gold content is oxidised to a certain depth from surface.
Bulk sampling of this free milling material has returned grades of 46.8g/t gold over 2m.
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.
