Exploration Risk Eased as Everest Metals Wins Competitive Mt Dimer Drilling Grant
Everest Metals has won a competitive co-funded drilling grant from the WA Government, boosting its Mt Dimer Gold Project exploration with up to $90,000 in support. This funding will underpin a targeted drilling campaign in early 2026 aimed at expanding known gold and base metal mineralisation.
- Awarded $90,000 co-funded drilling grant under WA Exploration Incentive Scheme
- Grant covers 50% of direct drilling costs for Mt Dimer Gold Project
- Planned RC drilling program to commence in H1 2026 targeting gold and silver extensions
- Recent drilling confirmed gold and nickel-cobalt-chromium anomalies
- Grant reflects strong technical merit and potential of Mt Dimer project
Government Backing for Mt Dimer Exploration
Everest Metals Corporation Ltd (ASX, EMC) has secured a valuable co-funded drilling grant from the Western Australian Government’s Exploration Incentive Scheme (EIS) for its Mt Dimer Gold Project. The grant, capped at A$90,000 and covering half of direct drilling costs, is a significant endorsement of the project’s potential and will help accelerate the company’s upcoming reverse circulation (RC) drilling program planned for the first half of 2026.
Strategic Importance of the Mt Dimer Project
Located approximately 150 kilometres northwest of Kalgoorlie and 120 kilometres northeast of Southern Cross, the Mt Dimer tenement (E77/2383) sits in a historically productive gold region of Western Australia. Recent exploration activities, including targeted drilling earlier this year, have identified promising gold mineralisation and notable base metal anomalies such as nickel, cobalt, and chromium. These findings underpin the project’s exploration upside and justify further drilling to test extensions along strike and at depth.
Competitive Grant Reflects Technical Merit
The EIS grant was awarded following a rigorous and competitive application process, with only 39 companies out of a large field receiving co-funding in Round 32. The scheme prioritises technically sound and innovative exploration proposals in underexplored areas, highlighting the Mt Dimer project’s strong geological potential. Everest Metals’ Executive Chairman and CEO Mark Caruso emphasised that the grant not only reduces early-stage exploration risk but also aligns with the company’s broader strategy to unlock value across its Western Australian resource portfolio.
Upcoming Drilling Program and Exploration Targets
The planned drilling campaign will focus on testing two high-priority anomalies within the Mt Dimer tenement. Anomaly A, covering an area of 700 by 300 metres, has shown evidence of orogenic gold and banded iron formation-style mineralisation, supported by previous drill intercepts with gold grades around 0.3 grams per tonne. Anomaly B, measuring 250 by 250 metres, features ultramafic-hosted mineralisation with significant nickel, cobalt, and chromium values, suggesting potential for platinum-group elements. The company intends to drill at least 15 RC holes to depths of up to 120 metres to further evaluate these targets.
Broader Implications for Everest Metals
This government-backed drilling initiative not only advances the Mt Dimer project but also signals confidence in Everest Metals’ exploration approach and portfolio. The company’s broader asset base includes other promising gold, base metal, and critical mineral projects in Western Australia. As drilling progresses, investors will be keen to see assay results that could validate the project’s resource potential and inform future development decisions.
Bottom Line?
With government support reducing exploration risk, Everest Metals is poised to unlock new value at Mt Dimer in 2026.
Questions in the middle?
- Will the upcoming drilling confirm economically viable gold and base metal resources?
- Could further government grants or partnerships accelerate exploration beyond Mt Dimer?
- How might new assay results impact Everest Metals’ valuation and project development timeline?
