Everest Metals has claimed more ground entering an agreement to acquire 100% of the Ninghan Project, southwest of Paynes Find in Western Australia.
The Ninghan Project includes two highly promising exploration leases, E59/2464 and E59/2500, which cover a combined 228km2 surrounded by several significant gold projects, including the Mount Gibson Gold Project, the Rothsay Gold Project, the 1.1 million-ounce Minjar Gold Project, 1 million- ounce Kirkalocka Gold Project, and the Surefire Yidby Gold Project.
The move comes just daysafter announcing the acquisition of territory in Alice Springs.
The Company is soon to get underway with a geochemical program in the near term to collect further data for a drilling program scheduled for mid- 2023
EMC is pleased to have the opportunity to increase its footprint in the prospective Paynes Find region,” CEO Mark Caruso said.
“Ninghan’s substantial land holding combined with having immediate exploration targets will complement the Company’s other projects in the area.
“Exploration success by others in the region demonstrate the propectivity of this project area and we look forward to providing the updates on our near-term exploration programs over the coming year.”
About the Ninghan Project
The Ninghan Project is located 40km southwest of Paynes Find in the Shire of Yalgoo and 400km northeast of Perth. The Great Northern Highway straddles the project (Figure 1). Ninghan includes two exploration tenements, E59/2464 and E59/2500, covering 228 km2 (76 blocks) north and south of the Great Northern Highway. E59/2464 sits north of Capricorn’s (ASX: CMM) Mt Gibson Project, and E59/2500 is adjacent to Surefire Resources (ASX: SRN) Yidby Gold Project.