{"id":10716,"date":"2024-06-11T01:40:55","date_gmt":"2024-06-11T01:40:55","guid":{"rendered":"https:\/\/economicherald.net\/?p=10716"},"modified":"2024-06-11T01:40:55","modified_gmt":"2024-06-11T01:40:55","slug":"everest-metals-corporation-attracts-2-2m-for-development-works-at-the-revere-and-mt-edon-projects","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10716","title":{"rendered":"Everest Metals Corporation attracts $2.2m for development works at the Revere and Mt Edon projects"},"content":{"rendered":"<p>Everest Metals Corporation has secured $2.2m to support its Revere (gold) and Mt Edon (rubidium) projects<br \/>\nRevere sits along an inferred extension of a shear system which hosts the DeGrussa and Monty copper-gold mines<br \/>\nMt Edon puts Everest in the unique position of possessing a high-grade rubidium project<\/p>\n<p>Special report: Everest Metals Corporation has received strong institutional and sophisticated investor support to raise $2.2m, fast tracking project development. <\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/everest-metals-corporation-emc\/\"><strong>Everest Metals (ASX:EMC)<\/strong><\/a> holds a portfolio of advanced gold and critical mineral projects with its focus resting upon the development of the flagship Revere and Mt Edon projects in WA.<\/p>\n<p>The Revere gold project, just off the Great Northern Highway, sits along an inferred extension of the Andy Well Greenstone Shear System, which also hosts the DeGrussa and Monty copper-gold mines.<\/p>\n<p>It includes a system of richly endowed gold reefs \u2013 the Revere Reef system \u2013 that surface over a strike of 7km and has a long history of alluvial mining.<\/p>\n<p>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.<\/p>\n<p>\u00a0<\/p>\n<p>Bulk sampling pits at Revere. Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n<p>At Mt Edon, EMC is working towards releasing a rubidium resource after drilling intersected multiple pegmatites and expanded the existing target area.<\/p>\n<p>Assay results are anticipated to be available later this month and a maiden resource should follow soon after.<\/p>\n<p>Based on their Exploration target, Everest says this is shaping up to be one of, if not the highest grade stand alone Rubidium deposits in the world.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Funds expedite development at Revere and Mt Edon <\/strong><\/h2>\n<p>EMC\u2019s plan to fast track development at both Revere and Mt Edon has been supported with firm commitments received from new and existing investors to raise $2.2m, subject to shareholder approval.<\/p>\n<p>Funds raised will be used to support the final stage of the bulk sample mining and processing of 36,000 tonnes of Revere Reef gold ore, fund the Phase 2 resource development and processing research at Mt Edon \u2013 and general working capital.<\/p>\n<p>The raise represents a 25% premium to the November 2023 placement price with an issue price of $0.10 per share.<\/p>\n<p>New shares proposed to be issued are subject to shareholder approval to be sought at a General Meeting of the company expected to be held in late July.<\/p>\n<p>\u00a0<\/p>\n<p>Mt Edon mining lease. Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Pending assays to support deposit as \u2018world-class\u2019 <\/strong><\/h2>\n<p>\u201cIt\u2019s pleasing to have such strong institutional and sophisticated investor support,\u201d EMC executive chairman and CEO Mark Caruso says.<\/p>\n<p>\u201cRecent high grade gold assays at Revere Gold support the on-going bulk sampling program, including the processing of high-grade ore to deliver an initial resource.<\/p>\n<p>\u201cWe are in no doubt that pending assay results from our Mt Edon critical mineral project will continue to support the deposit as world-class.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/everest-metals-corporation-attracts-2-2m-for-development-works-at-the-revere-and-mt-edon-projects\/\">Everest Metals Corporation attracts $2.2m for development works at the Revere and Mt Edon projects<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Everest Metals Corporation has secured $2.2m to support its Revere (gold) and Mt Edon (rubidium) projects Revere sits along an inferred extension of a shear <a href=\"https:\/\/economicherald.net\/?p=10716\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10717,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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