Everest uncovers maiden 261,000-ounce gold resource at Revere
πͺ¨ Everest Metals has announced a maiden mineral resource of 261,000 ounces of gold at its Revere project in Western Australia.
π The new resource is located within the Big John and Armstrong deposits on the Revere Reef system in the Mid West region.
βοΈ The total measured and indicated resource comprises 15 million tonnes at an average grade of 0.54 grams per tonne of gold.
π More than 40% of the defined mineral resource is classified as 'indicated', representing a higher confidence category compared to inferred.
π All mineralization begins at the surface, making it suitable for potential low-strip open-pit mining methods.
βοΈ Bulk sampling and metallurgical testwork confirm that gold can be effectively extracted using simple gravity processing techniques.
π The mineralized system remains open along its strike and extends over 6km with potential depth down to more than 100m below surface.
πΊοΈ Drilling so far has focused on the Big John and Armstrong areas, but management notes only about 25% of the 6km system has been drilled.
π The company plans an upcoming AC drill program targeting along-strike and down-dip extensions to support future resource growth.
π Additional activities include a scoping study to assess development pathways for the project.
π Executive Chairman Mark Caruso described the announcement as a significant milestone confirming a large, near-surface gold system with demonstrated continuity.
π€ The article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing.
β οΈ This content does not constitute financial product advice, and readers are encouraged to seek independent professional advice.