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- Resource confidence upgraded at Mt Dimer Taipan gold project
- Measured and Indicated resources established for first time
- M and I now represents 32% of contained gold
- Updated JORC MRE of 43,000 oz of gold
Everest Metals Corporation (ASX: EMC) has released an updated mineral resource estimate (MRE) for at the Mt Dimer Taipan gold project in Western Australia.
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The results have established Measured and Indicated resources at the project for the first time.
The updated MRE totals 975,000 tonnes at 1.37 grams per tonne (g/t) of gold for 43,000 ounces of gold. Measured and Indicated resources account for 13,780 ounces, or 32% of contained gold, compared with an entirely Inferred maiden estimate in 2021.
The updated estimate incorporates more than 7,200m of recent drilling and observations from mining, providing greater geological confidence to support ongoing mine planning.
The estimate comprises an in-situ Mineral Resource of 833,000 tonnes at 1.38 g/t Au for 36,906 ounces within mining lease M77/515 and a separately reported Indicated stockpile mineral resource of 142,000 tonnes at 1.33 g/t Au for 6,072 ounces.
The stockpiled material was mined during 2026 and is held on the run-of-mine (ROM) pad ahead of planned toll processing. Of the total Measured and Indicated gold, 7,708 ounces remain in-situ and 6,072 ounces are in the stockpile. Contained gold is lower than in the 2021 estimate and silver is no longer reported,
“This update reflects where Mt Dimer is today. When the maiden resource was reported in 2021, it was an exploration project with an Inferred estimate. It is now an operating mine, and this estimate is the first built on what we have learned from close-spaced drilling and from mining the deposit itself,” executive chairman and CEO, Mark Caruso, said.
“That matters because confidence now sits where we are mining. The Measured and Indicated resources are concentrated in the upper part of the deposit, and the material already on the ROM pad has been estimated as a resource ahead of our first toll-processing campaign.
“We have been open about where the estimate has changed since 2021, because shareholders should judge Mt Dimer on numbers that reflect real mining conditions.
“From here, the focus is on turning stockpiled material into cash flow through toll processing under our non-dilutive arrangement with MEGA, while drilling continues to test the deposit at depth, where it remains open.”
Located approximately 120 km northeast of Southern Cross, Mt Dimer has been the subject of open-pit mining since January 2026 per the company’s right to mine agreement with MEGA Resources and Bain Global Resources.
EMC was steady at 11.0¢ with a Mkt cap of $29.66M prior to markets opening.
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