- Everest metals (EMC) outlines deep drilling targets from geophysical modelling at its Revere Gold project in WA ahead of a planned drilling program
- The company re-modelled historical geophysical data to optimise drilling targets in the area
- Everest says its planned drilling work in the area will look to intersect volcanic-hosted massive sulphide (VHMS) copper-gold mineralisation in the area
- The company has regulatory approvals in place to kick off a diamond drilling program in the second quarter of 2023
- Shares in Everest Metals are trading at 8.2 cents at 1:52 pm AEDT
Everest Metals (EMC) has outlined deep drilling targets from geophysical modelling at its Revere Gold project in WA ahead of a planned drilling program.
EMC said the drilling of new targets would aim to intercept volcanogenic massive sulphide (VHMS) copper-gold mineralisation at depths of 300 metres in the project area.
The Revere project lies in Doolgunna Graben, between the Goodin and Southern faults, and has a northeast-southwest-trending magnetic structure parallel to the southern fault, called the Revere reef.
The geophysical database reviewed by EMC included gravity, magnetics, radiometric, and versatile time domain electromagnetic (VTEM), electrical resistivity and induced polarisation data.
Everest Metals Executive Chairman & CEO Mark Caruso said that the predicted targets within the 3D geometry “optimise ” the company’s chances of success in its upcoming deep drilling program.
“The remodelling of the historic geophysical data using up-to-date technology highlights the potential of volcanic-hosted massive sulphide copper-gold mineralisation within the Revere gold project,” Mr Caruso said.
Everest said its planned drilling work in the area would look to intersect volcanic-hosted massive sulphide (VHMS) copper-gold mineralisation in the area
Along the southern fault, EMC has identified areas of “intense magnetism” likely to be pyrrhotite, although these are separated by areas of magnetic lows which can represent total magnetite destruction.
The Revere project is home to gold and copper deposit targets and is located just off the Great Northern Highway, 90 kilometres to the northeast of Meekatharra.
Historical non-magnetic, shallow open-pit reverse circulation drilling found narrow and long high-grade copper and gold lodes, as well as increasing grades of copper and zinc at depth.
EMC awaits three pending applications for tenements in the 82 sqkm area covering the Revere project.
An application for the Western Australian Government’s Exploration Incentive Scheme (EIS) has been submitted to the Department of Mines, Industry Regulations and Safety in February 2023.
If granted, EMC will receive a 50 per cent reimbursement from the WA government for a single deep hole drill.
Shares in Everest Metals were trading at 8.2 cents at 1:52 pm AEDT.