Everest (ASX:EMC) move on Red Centre
January 17, 2023Everest Metals has expanded its exploration frontier into greenfield areas showing promising potential for a suite of battery metals northeast and west of Alice Springs in the Northern Territory.
The latest acquisition includes two areas 220km northeast of Alice Springs (Georgina tenure, 5,001.08 km2) and 150km west of Alice Springs (Amadeus tenure, 5,206.76 km2),” CEO Mark Caruso.
“Early reconnaissance has been extremely encouraging across both application packages, and the timeline for applications and on ground reconnaissance line up very well with EMC’s overall project development.”
About the Project
The application areas are located on the southwest margin of the Georgina Basin and in the northern edge of the Amadeus Basin, near the contact of the eastern Aileron metallogenetic province. The rocks of the Aileron province are composed of variably metamorphosed clastic sediments, metavolcanic rocks, calc-silicate rocks, dolerites, mafic rocks, and granites (Figure 2).
Location of Amadeus and Georgina tenures over a geological map of Aileron province
About Everest Metals Corporation
About Everest Metals Corporation
Everest Metals Corporation Limited (ASX: EMC) is an ASX-listed explorer. EMC’s Australian assets comprise two tenure groupings detailed briefly as follows:
WA Archaean Gold and Battery minerals assets:
- Mt Edon Project: Project contains the Mt Edon Pegmatite Field on granted Mining Lease M59/714 located in the Southern portion of the Paynes Find Greenstone Belt – an area known to host swarms of Pegmatites and considered highly prospective for Lithium, Caesium, Tantalum, Rubidium and Rare Earth Elements mineralisation. I am moving to 51% ownership, subject to shareholder approval.
- Revere Project: The tenement package size, including the tenements under option, covers an area of 82km2, including granted tenements E51/1766, E51/1770, P51/3240, P51/3241 and pending applications M51/905, E51/2119, E51/2088. and includes a system of richly endowed Gold Reefs, from the surface over a 7km strike area. I am moving to 51% ownership, subject to shareholder approval.
- Mt Dimer Project: is made up of mining lease M77/515 and exploration license E77/2383. The project is highly prospective for Archean gold.
- Yabu Project: This project is located on the Marda Greenstone belt ~ 80km northwest of the Mt Dimer Project. Yarbu consists of three exploration licenses (E77/2442, E77/2540 and E77/2539) which cover approximately 223sq km and are highly prospective for Archean gold deposits.
NSW Iron Oxide-Copper-Gold and Tin assets:
Rover Project: EMC’s 100% owned Rover project is located near Sandstone in a base metals and gold mineral-rich area associated with Archean greenstone belts. Rover Project is a sizeable 460sqkm tenure package covering two linear Archean greenstones, with a combined length of around 160km.
Price Action
The Company’s ASX-listed shares are 11c at Market Open.
Fundamental Data
Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
