Everest Metals bulk sampling reveals up to 33.5g/t gold at Revere project
8,000 tonnes of gold mineralised material have been stockpiled
Bulk earthmoving sample to be completed mid-July
Special Report: Everest Metals Corporation says its bulk sampling program at the Revere gold and base metals project in WA indicates the potential for the existence of a large orogenic gold system starting at surface and continuing at depth.
The project sits along an inferred extension of the Andy Well Greenstone Shear System, which also hosts the DeGrussa and Monty copper-gold mines, and includes a system of richly endowed gold reefs – the Revere Reef system – that surface over a strike of 7km and have a long history of alluvial mining.
The company has now completed initial drill and blasting for its 36,000t bulk sampling program in just a small section of the identified Revere Reef with the aim of identifying the extent of the gold carrying reefs systems.
So far, results include samples of up to 33.5g/t gold, which Everest Metals (ASX:EMC) says indicates shallow near surface high grade gold mineralisation at the project.
A total of 8,000t have now been stockpiled, with the earthmoving of bulk sample material expected to be completed by mid-July.
A high-grade portion of the reef post-crushing. Pic via EMC
On track for resource delivery
While no resource has been defined to date, the project does have an exploration target of 2.5Mt to 4.1Mt at grades between 1g/t and 2.5g/t gold, or up to 334,000oz of contained gold.
The company will now look to commence Gekko Gold processing plant mobilisation and gold processing planned in mid-July.
Following the bulk sampling program, an air core drilling campaign will kick off to establish additional JORC compliant resources with near surface gold potential.
“Initial work undertaken for the bulk sampling program has given the company confidence that the encountered geological mineralised structures and gold bulk grades will underpin the delivery of a maiden JORC compliant resource in line with the 334,000oz exploration target,” EMC executive chairman and CEO Mark Caruso said.
“We are now advancing to the primary, secondary, and tertiary processing phases which include gold production through a purpose built Gekko gold processing plant.
“This bulk sampling and gold processing will enable us to continue with further drilling and bulk sampling, enhancing the project’s gold resource potential.”
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.
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