Everest scout program confirms Yilgarn gold | Australian Markets

Everest Metals Corporation has confirmed mineralisation at its Mt Dimer Taipan project in Western Australia’s Yilgarn shire in a scout reverse circulation drilling program aimed toward precedence targets.

The focused zones had been recognized via built-in geochemical anomalies and alteration zones mapped utilizing high-resolution satellite tv for pc imagery on the project, 150 kilometres northwest of Kalgoorlie and 120km northeast of Southern Cross.

An initial 360-metre, three-hole reverse circulation drilling marketing campaign in June 2025 examined two of 4 anomalous zones within the company’s principal exploration licence.

An further 101m water monitoring borehole was drilled 90m north alongside strike from the Mt Dimer Taipan pit, within the mining lease.

Significant outcomes from the vertical borehole embrace 2m at 0.31 gram per tonne (g/t) gold from 3m, 6m at 1g/t gold and 1.7g/t silver from 14m and 3m at 0.24g/t gold from 27m. The outcomes affirm gold mineralisation, which stays open.

Additionally, a first gap at Everest’s Anomaly A goal within the northern half of the exploration licence delivered 9m at 0.33g/t gold from 13–22m, whereas a second gap within Anomaly A gave up 2m at 0.34g/t gold from 17m and 3m at 0.32g/t gold from 92m.

The Anomaly A drilling confirms gold in quartz veins hosted within clay-altered felsic volcanics, presumably related to a beforehand unrecognised intrusive physique, with the potential to host gold, presumably related to a shear zone.

The third gap, put into Everest’s Anomaly B goal, a round magnetic construction within the southern extremity of the exploration licence, didn’t decide up any gold sniffs. However, it did bore via 20m of anomalous nickel at 0.36 per cent, accompanied by 115 elements per million (ppm) cobalt and 0.15 per cent chromium from 20m.

The Anomaly B intercept is hosted by chlorite-carbonate altered iron-rich ultramafic rocks exhibiting structural options typical of orogenic gold systems.

This geological setting, accompanied by the anomalous base steel signatures, factors to a doubtlessly potential atmosphere for platinum-group ingredient mineralisation, which Everest believes additionally warrants investigation.

The restricted scout RC drilling program has confirmed anomalous gold mineralisation throughout the Mt Dimer exploration tenement, validating our exploration strategy.

Caruso stated the outcomes affirm additional exploration work is required to check extensions of the prevailing mineralisation at Mt Dimer Taipan, which stays open alongside strike and depth.

Everest acquired the Mt Dimer Taipan project, which incorporates a mining lease and an exploration tenement, in 2020.

The project has a present JORC 2012 compliant inferred mineral useful resource estimate, reported in 2021, of 722,000 tonnes at 2.10g/t gold for 48,545 ounces of gold and three.84g/t silver for 89,011 ounces of silver.

The company utilized a 1g/t gold cut-off grade to the estimate beneath 120m from floor.

The useful resource stays open to the south and at depth, reinforcing the potential to increase gold and silver mineralisation alongside the southern strike of the mineralised hall within the Mt Dimer ground and surrounding tenements.

Historical mining by Taipan Resources between 1995 and 1996 extracted 84,000t at 4.61g/t gold for 5933 ounces of gold.

Everest has submitted a mining proposal and mine closure plan to the WA Department of Mines, Petroleum and Exploration, which it expects to be accredited within the present quarter.

The plan includes a pit cutback to extract ore for processing at a close by Kalgoorlie mill. A follow-up drilling program is deliberate to more totally take a look at for potential mineralised extensions and to higher outline its current gold anomalies. Two further anomalies stay untested.

Management says the company is close to finalising all the mandatory regulatory approvals in tandem with superior discussions with third-party toll remedy suppliers and mining contractors, positioning Everest to launch mining operations within the last quarter of the yr.

With the broader project space remaining largely underexplored and preliminary drilling outcomes indicating robust potential for hid gold mineralisation, Everest appears to be like well-placed to uncover additional worth from the Mt Dimer Taipan project, building on its already sturdy useful resource base to drive future growth.

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