EverGreen Lithium Advances with Leonora Goldfields Acquisition and Drilling Plans
EverGreen Lithium Limited has acquired the Leonora Goldfields Project, adding a JORC-compliant inferred gold resource of 63,000 ounces and setting the stage for a targeted drilling campaign to expand and upgrade this resource.
- Acquisition of Leonora Goldfields Project with 63,000oz inferred gold resource
- High-grade gold intercepts up to 5m at 57.9 g/t Au identified
- Planned inaugural drilling campaign to upgrade resource classification
- Bynoe Project shows promising gold exploration results from 2024 drilling
- Appointment of Glenn Grayson as Non-Executive Director strengthens leadership
Strategic Acquisition in a Premier Gold District
EverGreen Lithium Limited (ASX, EG1) has taken a significant step forward in its exploration strategy with the acquisition of the Leonora Goldfields Project (LGP) in Western Australia's central gold district. This project, acquired in May 2025, is notable for its JORC 2012-compliant inferred resource of approximately 63,000 ounces of gold. The LGP is strategically located near world-class deposits such as Vault Minerals’ King of the Hills (+4Moz) and Northern Star Resources’ Thunderbox (+5Moz), positioning EverGreen Lithium well for future growth and potential gold production.
The project encompasses 15 tenements, including 13 granted mining and prospecting licenses and two exploration tenements. The company is actively pursuing the conversion of five prospecting licenses to mining leases, a move that would facilitate future mining operations and optimize development plans.
High-Grade Potential and Upcoming Drilling
Recent site mapping by EverGreen’s geology team has confirmed the high-grade potential of the Leonora Goldfields Project, with intercepts reaching up to 5 meters at an exceptional 57.9 grams per tonne of gold. These findings have laid the groundwork for an inaugural drilling campaign targeting key prospects such as Craig’s Rest and Victor Bore. The goal of this campaign is to extend known mineralisation and upgrade the current inferred resource to an indicated status, which would enhance the project's economic viability.
The project benefits from excellent infrastructure, including sealed roads within 200 meters of primary targets, grid power, and access to a regional workforce, all factors that support efficient exploration and potential development.
Exploration Progress at Bynoe Project
Alongside Leonora, EverGreen Lithium continues to advance its Bynoe Project in the Northern Territory. Results from the 2024 drilling and rock chip sampling have confirmed the presence of gold mineralising systems, with notable intervals such as 4 meters at 1.02 g/t Au. The company has identified arsenic- and gold-anomalous structures that will be prioritized in upcoming exploration efforts, including further drilling and geochemical sampling to refine geological models and target prioritization.
Corporate and Financial Updates
In a move to strengthen its leadership, EverGreen Lithium appointed Mr. Glenn Grayson as a Non-Executive Director in May 2025. Mr. Grayson brings over 30 years of experience in exploration and development geology, having held senior roles at major mining companies including Barrick Gold and Northern Star Resources.
Financially, the company reported cash and cash equivalents of AUD 2.144 million as of 30 June 2025. Exploration and evaluation expenditure increased to AUD 226,000 during the quarter, primarily reflecting costs related to the Leonora acquisition. Corporate and administration expenses remained stable, while staff costs decreased following a one-off termination payment in the previous quarter.
EverGreen Lithium is progressing its tenement conversion applications and preparing for the upcoming drilling campaign, signaling a clear focus on advancing its gold exploration assets.
Bottom Line?
As EverGreen Lithium prepares to drill and upgrade its Leonora resource, the market will be watching closely for results that could redefine its growth trajectory.
Questions in the middle?
- Will the upcoming drilling campaign at Leonora confirm and expand the high-grade gold zones?
- How quickly can EverGreen Lithium convert prospecting licenses to mining leases to enable development?
- What impact will Glenn Grayson's expertise have on accelerating project milestones and exploration success?
