Everest Metals Corporation (ASX: EMC) has obtained promising drilling results from a deep drilling programme, designed to test the base metal potential at the Revere Gold Project in Western Australia.
Assay results to date have reinforced impressions of a wide corridor up to 8.5 km of base metal sulphide mineralisation at Revere.
These results from EMC’s first pass deep holes confirm the potential of the Revere Project to host multiple copper-gold-zinc deposits given the significant mineralisation intersected at targets spread over an area of 8.5 sq. km. DHEM surveys indicate the conductive plates extend to the survey tool open limits,” Chief Operating Officer, Simon Philips, said.
“Mineralisation is open both laterally and in down-plunge directions. Leading Area Geologist Mr Bruce Hooper has confirmed results display a typical Orogenic Gold signature and provide excellent follow up targets, which compliment EMC’s prolific gold at surface, to be quantified with the bulk sampling program over the coming months. Cognisant of the results, EMC continues to consolidate its footprint around the project area, and we look forward to updating the market further in the near future.”
To date, the company has drilled five Diamond Holes and one RC, all of which have encountered zones of mineralisation anomalous for Zn, Ag, Cu, Au and As.
In addition, the company has undertaken DHEM surveys on REV-01, REV-05, REV-03 and REV-04 with three of these holes encountering multiple significant conductors at depth.
Based on work to date the company has delineated an extremely large footprint of mineralisation approximately 8.5km by 2.5km in size totalling 22 sq. km, which is currently open NE-SW and at depth.
The geological similarities and intersected mineralisation in all drill holes strongly suggests the potential existence of a substantially mineralised system at Revere similar to what can be seen at the Thaduna Green Dragon and the sedimentary hosted Enigma prospect.
The drillhole assays and the base metals signatures so far detected, supports the company’s geological theory that there is strong potential for Orogenic gold and SEDEX (and possibly VHMS) ore bodies to exist in the Doolgunna graben formation and further exploration at the Revere Project is definitely warranted.
The six holes drilled by the company to date have intersected the lense and/ or the peripheral of the source (feeder) of the main ore body of mineralisation. In order to hone in on this source, further drilling followed by a DHEM and air core program is required in order to test the geochemical occurrences and VTEM anomalies as the company systematically works to pinpoint the source of this extensive system.