Everest (ASX:EMC) stake claim on Revere

Everest Metals Corporation is claiming up to 100% interest in the exciting Revere gold-copper project northeast of Meekatharra in Western Australia.

Plans are progressing for an initial 360,000-tonne bulk sampling campaign to define surface gold potential along the inferred same shear system (Andy Well Greenstone Shear System) as the DeGrussa copper-gold operations, 55km to the northeast.

Exploration of the 82 square-kilometre Project includes a system of richly endowed Gold Reefs (The Revere Reefs) from the surface over a 7km strike area.

Revere gold project location

The Company said exploration is within sight of potential near-term mining and gold production through a Mobile Gravity plant on the site’s granted mining lease.

“The acquisition of the Revere Gold Project represents a transformational opportunity in a proven prolific gold producing region of Western Australia,” COO Simon Phillips said.

“Gold and precious metals development is a core pillar in EMC’s business strategy, and this project is highly complementary to the recent developments the company has made in the battery metals sector.

“The Revere Project is an advanced asset with significant gold and copper potential – both at surface and at depth – which is clearly evidenced from previous exploration work undertaken across the project, from which there is an abundance of high-quality technical data.

“Our technical team believes there is a clear pathway to establishing a JORC compliant resource and we look forward to providing further details on our exploration strategy and work plans shortly.”

Price Action

The Company’s ASX-listed shares are 7.9c at pre-Market Open.

Copper Potential

The strong copper potential has been shown at depth in previously completed shallow followed by deep diamond holes to test mineralisation at depth.

About Everest Metals Corporation

Everest Metals engages in mineral exploration activities in Western Australia and New South Wales. It holds interest in the Mt Dimer gold and silver, Yarbu, and Rover projects, as well as the Midas, Trident, and Perseus Iron-Oxide-Copper-Gold projects. The Company was formerly known as Twenty Seven Co. Limited. Everest Metals Corporation Ltd was incorporated in 2006 and is based in Perth, Australia.

Next Steps

The acquisition is subject to due diligence and shareholder approval.
Exploration of three priority drill targets is expected as part of a diamond drill program to commence in Q1, 2023.

Fundamental Data

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