Revere Gold Project Processes 1,700 Tonnes Yielding 1.4 Tonnes Concentrate

Milestone Achievement at Revere

Everest Metals Corporation (ASX: EMC) has marked a significant milestone in its exploration journey with the successful extraction of gold from its bulk sampling program at the Revere Gold Project in Western Australia's Murchison Region. The company reported processing 1,700 tonnes of stockpiled material through its onsite Gekko Gravity Gold Processing Plant, producing approximately 1.4 tonnes of gold concentrate by the end of January 2025.

This achievement not only validates the geological and metallurgical models underpinning the project but also demonstrates the operational capability of the modular Gekko plant, which exceeded its 10 tonnes per hour (tph) nameplate capacity during January. The concentrate has since undergone secondary processing in Perth and is en route to the Perth Mint for refining and purity confirmation, results that will inform the upcoming mining study and resource estimation.

Strategic Importance of Bulk Sampling

The bulk sampling program focuses on a 700-metre section, about 10% of the 7-kilometre Revere Reef strike, providing critical data on the high-grade gold mineralisation and its nuggety nature. This approach addresses the challenges posed by the coarse gold distribution, which can vary dramatically over short distances, complicating traditional drilling-based resource estimation.

EMC’s Executive Chairman and CEO, Mark Caruso, highlighted the significance of this phase, emphasizing its role in converting the current Exploration Target into a maiden JORC Code Mineral Resource Estimate. The program is expected to conclude by mid-2025, with further air core drilling planned to extend the strike and deepen understanding of near-surface gold potential.

Geological Context and Project Potential

The Revere Gold Project is situated in a prolific gold-producing region, proximal to established mines such as DeGrussa and Andy Well. The project’s geology features mesothermal-style gold stockwork systems hosted within a broad greenschist facies alteration zone. Historical drilling and bulk sampling have revealed exceptionally high-grade gold intersections, with some samples exceeding 1,000 g/t Au, underscoring the project's potential.

The project’s saddle reef structures and anticlinal fold crests are analogous to those found in the renowned Bendigo Goldfield, suggesting a promising mineralisation style. The current Exploration Target ranges from 2.5 to 4.1 million tonnes grading between 1 and 2.5 g/t gold, potentially hosting up to 334,000 ounces of gold, though this remains conceptual pending further resource definition.

Operational and Environmental Considerations

The Gekko Processing Plant employed at Revere offers a low-cost, environmentally friendly solution, utilizing gravity concentration without cyanide or chemical reagents. This aligns with increasing industry and community expectations for sustainable mining practices. The plant’s efficiency, demonstrated by recovery rates of up to 88% in metallurgical testing, supports the project's economic viability.

Looking ahead, the refining results from the Perth Mint will be pivotal in confirming the concentrate’s quality and informing the next stages of development. The ongoing bulk sampling and planned drilling campaigns will further refine the resource model, potentially unlocking significant value for Everest Metals and its shareholders.