Everest Metals Corporation Limited (ASX: EMC) has successfully identified new deep drilling targets with the results of geophysical modelling at the Revere Gold Project (RGP) in Western Australia.
The remodelling of the historic geophysical data using up to date technology highlights the potential of volcanic hosted massive sulphide copper-gold mineralisation within the Revere Gold Project. The predicted targets within the 3D geometry optimises the chances of success with our forthcoming deep diamond drilling programme,” Executive Chairman and CEO, Mark Caruso, said.
The project is located just off the Great Northern Highway approximately 90km to the northeast of Meekatharra in the Murchison Region of Western Australia. The tenement package size, including the tenements under option cover an area of 82 sq. km. This is comprised of granted tenements E51/1766, E51/1770, P51/3240, P51/3241, and pending applications M51/905 E51/2119, E51/2088.
The project sits proximal and along strike of the DeGrussa and Monty Copper-Gold mines, just 55km to the southwest.
Visual observations of the lode material from the Revere Reef indicate that coarse visible gold is contained within gossan iron oxide which forms the matrix of the quartz breccias.
Field assessment by Enterprise Metals (2009-2017), Mineral Commodities (2018-2021), and recent technical review and data interpretation by EMC demonstrated the potential of the Doolgunna formation to host DeGrussa-style Volcanic Hosted Massive Sulphide (VHMS) and Plutonic-style orogenic gold deposits. Historical exploration primarily focused on gold targets that could be mined by shallow open pit methods.
Deeper exploration was generally limited to the immediate shallow RC drilling seeking to locate quartz vein-bearing gold.
At depth, the anomalous high copper, zinc, and arsenic values indicate the potential for a DeGrussa type copper-gold deposit below the zone of complete oxidisation. Copper and even gold lodes in the region are generally shear hosted shoots, narrow and long, comprised of high-grade lodes. The DeGrussa deposit was discovered in follow up drilling of a zone of oxide gold mineralisation similar to that found at the Revere Gold Project. The west-northwest striking breccia shear zone is interpreted to be related to deep-seated structures and to represent part of a plumbing system for metalliferous fluids that migrated upwards into suitable trap horizons – the quartz breccia or any other suitable structural traps.