Everest expects approval soon for mining at Mt Dimer Taipan. Pic: Getty Images
- RC drill campaign sources mineralisation beyond Everest’s established gold-silver resource
- Project already hosts a significant gold-silver collection marked for near-term mining
- Further exploration upside on the cards in neighbouring tenement
Special Report: Everest Metals has validated the presence of further gold mineralisation beyond the established resource at its Mt Dimer Taipan project northeast of Kalgoorlie.
With RC drilling focused on investigating priority targets, one hole along the northern strike of Everest Metals Corporation (ASX:EMC) Mt Dimer Taipan pit confirmed open mineralisation beyond the current inferred 722,000t at 2.10g/t gold and 3.84g/t silver resource with a 6m strike at 1g/t Au and 1.7g/t Ag from 14m.
Results also confirmed mineralisation associated with a previously unknown intrusive body in one of the tenements, demonstrating its potential to host precious metals.
Everest executive chairman and CEO Mark Caruso said the limited scout program had confirmed anomalous gold mineralisation and validated the company’s exploration strategy.
“These results underscore the potential for further exploration and confirm further work is required to test extensions to existing mineralisation at Mt Dimer Taipan, which remains open along strike and depth,” he said.
“Management is close to finalising all regulatory approvals, and coupled with advanced discussions being had with third-party toll treaters and mining contractors, positions EMC to commence mining operations in Q4 2025.”
A follow up drill campaign is also being plotted to check the tenements out for more mineralised extensions.
Watch: EMC locks in CSIRO support for critical studies
Near-term mining momentum
Everest believes the Mt Dimer Taipan project could turn into a very profitable and near-term mining venture not far from the gold capital of Kalgoorlie.
With expected approvals, plentiful toll treatment options and good-looking pit optimisation metrics, the company is seeing quite a profitable dig even at $4500 an ounce (it’s now trading closer to $5130 a pop) as it prepares to kick off earthworks in Q4 2025.
There’s also exploration upside in a neighbouring lease and some good targets marked for a follow up to investigate a value-adding thesis that two of the project’s planned mining areas are connected.
And with one of the world’s highest-grade rubidium resources at Mt Edon and an outlined pathway to half a million ounces in the WA Murchison, Everest reckons it has a pretty compelling period ahead beyond Mt Dimer Taipan.
This article was developed in collaboration with Everest Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
