Everest Metals Corporation Ltd (ASX: EMC) Commences Gold Processing at Revere Project
Gold Processing Milestone
Everest Metals Corporation Ltd (ASX: EMC) has officially commenced processing operations at its Revere Gold Project in Western Australia. The company deployed the 10TPH Gekko Gravity Gold Processing Plant to site in late October 2024, which is now in the ramp-up phase, focused on optimising gold recovery operations.
Stockpiled Material Ready for Processing
More than 8,000 tonnes of primary and secondary crushed gold-mineralised material is stockpiled and awaiting processing. This is part of a significant 36,000-tonne bulk sampling program, designed to assess a 700-meter section of the gold-mineralised system along a potential 7-kilometer strike length.
Future Exploration Plans
EMC is advancing towards delivering its maiden JORC Mineral Resource Estimate (MRE) and plans to commence a 5,500-meter regional air core drilling campaign in early 2025. This initiative aims to explore near-surface gold potential and enhance the understanding of the resource base.
Executive Remarks
Mark Caruso, Executive Chairman and CEO of Everest Metals Corporation Ltd, stated, “The commencement of processing operations using the Gekko Gravity Gold Processing Plant marks a significant step towards delivering our maiden JORC Mineral Resource Estimate for Revere. Our planned air core drilling in early 2025 will further assess the resource’s potential, highlighting our commitment to systematic exploration.”
Bulk Sampling Update
The ongoing bulk sampling program follows the completion of Phase 2 drilling and blasting, aimed at delineating high-grade gold mineralisation. Phase II’s drilling and blasting results will provide critical data for assessing the full potential of Revere. The bulk sampling activities are projected to conclude by the second quarter of 2025.
Optimised Operations
The Gekko Processing Plant is designed as a low-cost, efficient solution for processing high-grade mineralised material. Previous metallurgical tests have confirmed its effectiveness in achieving gold recovery rates of approximately 88%. This state-of-the-art processing capability is expected to maximise the potential output and profitability for EMC as the gold processing operations advance.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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