Everest (ASX:EMC) boosts gold ground with Ninghan
January 19, 2023Everest Metals has claimed more ground entering an agreement to acquire 100% of the Ninghan Project, southwest of Paynes Find in Western Australia.
The Ninghan Project includes two highly promising exploration leases, E59/2464 and E59/2500, which cover a combined 228km2 surrounded by several significant gold projects, including the Mount Gibson Gold Project, the Rothsay Gold Project, the 1.1 million-ounce Minjar Gold Project, 1 million- ounce Kirkalocka Gold Project, and the Surefire Yidby Gold Project.
Location of the Ninghan tenements
The move comes just days after announcing the acquisition of territory in Alice Springs.
The Company is soon to get underway with a geochemical program in the near term to collect further data for a drilling program scheduled for mid- 2023
“EMC is pleased to have the opportunity to increase its footprint in the prospective Paynes Find region,” CEO Mark Caruso said.
“Ninghan’s substantial land holding combined with having immediate exploration targets will complement the Company’s other projects in the area.
“Exploration success by others in the region demonstrate the propectivity of this project area and we look forward to providing the updates on our near-term exploration programs over the coming year.”
Price Action
The Company’s ASX-listed shares are 10.5c at pre-Market Open.
About the Ninghan Project
The Ninghan Project is located 40km southwest of Paynes Find in the Shire of Yalgoo and 400km northeast of Perth. The Great Northern Highway straddles the project (Figure 1). Ninghan includes two exploration tenements, E59/2464 and E59/2500, covering 228 km2 (76 blocks) north and south of the Great Northern Highway. E59/2464 sits north of Capricorn’s (ASX: CMM) Mt Gibson Project, and E59/2500 is adjacent to Surefire Resources (ASX: SRN) Yidby Gold Project.
Fundamental Data
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