Everest identifies Degrussa mineralisation under Revere - The Pick Online Magazine

Everest Metals Corporation Limited’s (ASX: EMC) targeted VTEM diamond drilling programme has penetrated a DeGrussa Style mineralised system at the Revere Gold Project in Western Australia.

Highlights:

• 3 Holes (1038m) Diamond Drilling complete over 8.5km Target Area
  • REV-01 – 400mts
  • REV-04 – 302mts
  • REV-05 – 336mts

• Portable XRF results indicate up to 5.7% Copper and up to 4.2% Zinc at varying intersections

• Mafic breccia, volcaniclastics and shales with chalcopyrite, sphalerite and pyrrhotite/pyrite intersected in various intervals

• Core currently being prepared for assay

• Expedited Downhole Electromagnetic Survey completed and awaiting results for next drill program

• Additional Drilling Rig mobilisation underway to support accelerated extension of current programme.

To drill into such a large mineralised system on our first pass drilling is significant and highlights the potential of the target area,” Chief Operating Officer, Simon Philips, said.

“The first three diamond drill holes were designed to test electromagnetic conductors identified as having the potential for Volcanic Hosted Massive Sulphides at depth. The similarities in geological sequences when compared to the SandfireDeGrussa VHMS deposit is geologically very significant. We look forward to assays and downhole EM surveys to guide us on further testing the system.”

The project is located just off the Great Northern Highway approximately 90km to the northeast of Meekatharra in the Murchison Region of Western Australia and 900km north of Perth.

The tenement package size, including the tenements under option cover an area of 82km2. This is comprised of granted tenements E51/1766, E51/1770, P51/3240, P51/3241, and pending applications M51/905, E51/2119, E51/2088 and E51/2088.

The project sits proximal and along strike of the DeGrussa and Monty Copper-Gold mines, just 55km to the southwest.