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- Everest Metals (EMC) identifies a DeGrussa-style mineralised system at its Revere gold project in Western Australia
- Three diamond-deep holes were drilled for a total of just over 1000 metres, intersecting sulphide mineralisation in all holes
- Depths ranged from 302 metres to 400 metres with portable XRF results indicating the presence of copper and zinc
- EMC COO Simon Philips says the drilling results highlight the potential of the target area
- Everest Metals shares are up 26 per cent, trading at 31.5 cents at 2:52 pm AEST
Everest Metals (EMC) has identified a DeGrussa-style mineralised system at its Revere gold project in Western Australia.
It comes following the completion of three diamond-deep holes for a total of just over 1000 metres, intersecting sulphide mineralisation in all holes. The holes were completed across its 8.5-kilometre target area.
Depths ranged from 302 metres to 400 metres with portable XRF results indicating the presence of copper and zinc, with concentrations reaching up to 5.7 per cent and 4.2 per cent, respectively.
The drilled core is being prepared for assay to determine the exact composition of the mineralisation, while an additional drill rig is being mobilised.
“To drill into such a large mineralised system on our first pass drilling is significant and highlights the potential of the target area.” Chief Operating Officer Simon Philips said.
The drill holes were designed to test electromagnetic conductors that could indicate the presence of volcanic-hosted massive sulphides at depth.
Everest Metals anticipates assays and downhole EM surveys to guide them in further testing the mineralised system.
EMC shares were up 26 per cent, trading at 31.5 cents at 2:52 pm AEST.
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