Heap Leach Potential and Open Mineralisation De-Risk Everest Metals’ Mt Dimer Project

Drilling Success at Mt Dimer Taipan

Everest Metals Corporation Ltd (ASX – EMC) has announced encouraging results from its recent Reverse Circulation (RC) drilling program at the Mt Dimer Taipan Gold Project in Western Australia. The program, comprising 105 holes totaling over 2,100 meters, has confirmed that high-grade gold mineralisation extends beyond the known boundaries of the Taipan pit, remaining open both to the north and south along strike.

Notable drill intersections include 6 meters at 10.2 grams per tonne (g/t) gold from 14 to 20 meters depth, among other significant hits such as 3 meters at 4.8 g/t and 4 meters at 4.5 g/t gold. These results reinforce the potential to expand the existing Inferred Mineral Resource, which currently stands at 722,000 tonnes grading 2.10 g/t gold, equating to approximately 48,545 ounces of gold.

Heap Leach Pad Sampling Reveals Additional Value

In addition to fresh drilling, Everest Metals has sampled the historical heap leach pad located near the Taipan pit. This pad, containing previously mined and crushed material, returned gold grades up to 15.5 g/t from shallow RC holes. The average grade across the pad was about 0.9 g/t, suggesting a valuable inventory of recoverable gold that could provide early cash flow once metallurgical recovery tests are completed.

These findings highlight an opportunity to extract gold from material that was previously processed but not fully recovered, potentially enhancing the project’s economics with a low-cost source of near-surface gold.

Pathway to Production and Future Prospects

With the Mt Dimer Taipan project fully permitted and mining operations scheduled to commence imminently, these drilling results serve to de-risk the project and bolster confidence in its development trajectory. Executive Chairman and CEO Mark Caruso emphasized the significance of the high-grade extensions and the open nature of the mineralisation, underscoring the potential for further resource growth through targeted drilling.

Moreover, the combination of expanding mineral resources and the potential for early production from heap leach material positions Everest Metals well to advance Mt Dimer towards commercial gold production. The company’s methodical approach, including rigorous sampling and quality control, supports the credibility of these results.

Looking Ahead

Everest Metals plans to continue resource definition work, incorporating new drilling data into updated resource models. Metallurgical testwork on heap leach material will be critical to unlocking additional value. Investors and analysts will be watching closely for these developments as the company moves from exploration to production.