Everest (ASX:EMC) move to majority for lithium and gold

Everest Metals have moved to majority ownership of the Revere Gold Project and the Mt Edon LCT Project, acquiring 51 per cent of both Western Australian projects and building up its combined portfolio of timeless and future facing metals.

Mt Edon sits in the southern end of a Paynes Find Greenstone Belt known to be highly prospectives for LCT Mineralisation, the lucrative combination of heavy amounts of lithium, caesium, tantalum and rubidium mineralisation in one deposit, and Everest exploration has already revealed both highly anomalous pegmatites and rock chip grades up to 2.7 per cent lithium oxide.

“The Mt Edon LCT Pegmatite Project has an extensive array of pegmatite outcrops and EMC looks forward to providing further details on the drilling program scheduled Q2, 2023 at this highly fertile field,” Chief Operating Officer Simon Phillips said.

And Revere contains a system of a richly endowed series of gold reefs, highly mineralised from surface and sitting along strike from the DeGrussa copper-gold mine, a historically high-grade discovery which propelled Sandfire from a junior into a mid-tier producer in a little over three years, with Everest holding the rights to move to whole ownership.

“The Revere Gold Project is an advanced asset with significant gold and copper potential, both at surface and at depth. EMC’s recent geophysical modelling and metallurgical test work results have provided us with clear DeGrussa Style targets for our forthcoming deep diamond drilling program scheduled Q2, 2023 and we look forward to providing further details on our exploration strategy in the near future,” Mr Phillips said.

EVEREST MC FPO [EMC]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Everest Metals Corporation Ltd engages in mineral exploration activities in Western Australia and the Northern Territory. The company explores for gold, copper, silver, cobalt, lithium, tantalum, rubidium, caesium, uranium, and rare earth elements. Its flagship properties include the Revere gold and base metal project covering an area of approximately 171 square kilometers located in the Murchison region of Western Australia; the Mt Dimer Taipan Gold and Siver project located in north-east of Southern Cross; and the MT Edon critical mineral project located in the southern portion of the Paynes Find Greenstone belt. The company was formerly known as Twenty Seven Co. Limited. Everest Metals Corporation Ltd was incorporated in 2006 and is based in Perth, Australia.