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Highlights
- Everest Metals (EMC) extracts first gold at Revere Project in Western Australia.
- Bulk sampling program produces 1.4 tonnes of gold concentrate.
- Advanced drilling planned to expand mineralized reef system.
Everest Metals (ASX:EMC) has successfully extracted its first gold during the commissioning phase of a bulk sample program at the Revere Gold Project in Western Australia. This marks a significant milestone for the company as it moves closer to defining a maiden resource estimate.
The bulk sampling program has already produced 1.4 tonnes of gold concentrate, and work remains ongoing. The company notes that this phase has reinforced its understanding of the gold mineralization and geo-metallurgical characteristics of the project. These insights play a crucial role in progressing the project from an exploration target to a defined resource.
Company CEO Mark Caruso emphasized the importance of this achievement, particularly given the timing of gold extraction amid record-high gold prices. He highlighted that the ongoing gold extraction not only validates the company’s geological models but also provides additional cash flow to support other projects in the company’s portfolio.
To further advance the Revere Project, the company is planning an aircore drilling program, aiming to expand the known mineralized reef system. This initiative is expected to enhance the company’s understanding of the high-grade gold mineralization and align with its broader strategy of unlocking greater value from the project.
The Gekko Processing Plant, which plays a key role in the current program, has recently exceeded its nameplate capacity of 10 tonnes per hour. Over the past month, it has processed approximately 1,700 tonnes of stockpiled material, demonstrating its efficiency and scalability. The plant operates as a low-cost, environmentally friendly processing system, utilizing gravity concentration without the need for cyanide or chemicals.
Located just off the Great Northern Highway, about 90 km northeast of Meekatharra, the Revere Project benefits from strategic positioning and accessibility. With gold prices continuing to rise—standing at approximately $4,640 per ounce on February 14—the company remains well-positioned to capitalize on strong market conditions.
This latest progress at the Revere Project reinforces the company’s growth trajectory and strategic focus on advancing its exploration assets. As Everest Metals continues its bulk sampling and upcoming drilling initiatives, further developments could pave the way for a robust resource estimate and long-term value creation.
