Everest Metals Corporation (ASX: EMC) has achieved a milestone in its bulk sampling programme with extraction of gold at its Revere Gold Project in Western Australia, 90km northeast of Meekatharra.
This achievement represents a major step forward in confirming our understanding of the gold mineralisation and geo-metallurgical characterisation and converting the current Exploration Target to a maiden JORC Code Mineral Resource Estimate.
The bulk sampling programme focused on only a 10% section (or 700m) of the 7km Revere Reef strike event.
To date, the program has produced ~1.4 tonnes of gold concentrate and the programme remains ongoing.
“This phase of our bulk sampling programme at Revere has been a major achievement for EMC, not only in helping us to better understand the mineralisation style, grade and geology; but also allowing us to extract gold using our Gekko processing plant onsite,” Executive Chairman and CEO, Mark Caruso, said.
“With further processing of this material in Perth, we have had the benefit of gold extraction at a time of record high gold prices. This generates cash flow to support ongoing activities throughout our portfolio.”
Bulk sampling programme
The bulk sampling program continues to delineate the extent of high-grade gold mineralisation contained within the reef structures, providing critical data to evaluate the system's resource potential. Bulk sampling and processing activities are projected to be finalised by Q2 2025, marking a significant milestone in the exploration and development of this highly promising and untapped Revere Reef gold system.
The mobilisation of the 10tph Mobile Gravity Gekko Processing Plant to Revere occurred in late October 2024 and the processing of mineralised material, which remains ongoing, officially commenced in early December 2024, producing a gold concentrate. During the month of January 2025, the plant achieved a throughput rate in excess of its name plate capacity of 10tph.
During this period, as part of the bulk sampling programme, which remains ongoing, the Company processed 1,700 tonnes of stockpiled material and produced ~1.4 tonnes of concentrate by the end of January 2025. Gold grains are visibly present in the concentrate.
