Revere Project Processes 1,700 Tonnes, Yields 1.4 Tonnes Gold Concentrate
Everest Metals Corporation has successfully extracted gold from its Revere Gold Project, marking a pivotal step in converting exploration targets into a JORC-compliant resource. The bulk sampling program continues to refine understanding of this high-grade, nuggety gold system.
- First gold extracted from Revere bulk sampling using Gekko Gravity Processing Plant
- 1,700 tonnes processed yielding ~1.4 tonnes of gold concentrate
- Gold concentrate sent to Perth Mint for refining and purity confirmation
- Bulk sampling covers 10% of 7km Revere Reef strike, supporting maiden JORC Mineral Resource Estimate
- Ongoing aircore drilling planned to extend mineralised reef system
Milestone Achievement in Gold Extraction
Everest Metals Corporation (ASX: EMC) has announced a significant breakthrough at its Revere Gold Project in Western Australia's Murchison Region, successfully extracting gold from its bulk sampling program. The company’s Gekko Gravity Gold Processing Plant, mobilised in late 2024, processed 1,700 tonnes of stockpiled mineralised material by the end of January 2025, producing approximately 1.4 tonnes of gold concentrate. This concentrate has been further processed in Perth and is now en route to the Perth Mint for refining and purity verification.
Executive Chairman and CEO Mark Caruso highlighted the importance of this milestone, noting that the extraction not only validates the geological and metallurgical models but also provides early cash flow at a time of record-high gold prices. This operational success is a critical step towards converting the current Exploration Target into a maiden JORC Code Mineral Resource Estimate.
Understanding the Nuggety Gold System
The Revere Gold Project is characterised by a complex, nuggety gold system hosted within mesothermal quartz reefs along a 7-kilometre strike. The bulk sampling program, which currently targets a 700-metre section (about 10% of the reef strike), is designed to address the challenges posed by the coarse, uneven distribution of gold, commonly referred to as the 'nugget effect.' This approach is industry best practice for such deposits, supplementing drilling data to provide a more reliable resource estimate.
Historical drilling and bulk sampling have revealed exceptionally high-grade gold zones, with some samples exceeding 1,000 grams per tonne. The current program’s results are consistent with these findings, reinforcing confidence in the project's potential. The modular Gekko plant’s environmentally friendly, cyanide-free gravity concentration process has demonstrated an 88% recovery rate in metallurgical tests, underscoring its suitability for this deposit.
Strategic Exploration and Development Plans
Beyond bulk sampling, EMC plans to undertake an advanced aircore drilling campaign to delineate the mineralised reef system further along strike and at near-surface depths. This will complement the bulk sampling data and support the conversion of the Exploration Target, estimated between 2.5 and 4.1 million tonnes grading 1 to 2.5 grams per tonne gold, into a JORC-compliant inferred Mineral Resource Estimate.
The Revere project’s location near established mining operations and its geological similarities to prolific goldfields like Bendigo add strategic value. The company’s systematic approach aims to unlock the full potential of this high-grade gold system, balancing technical rigor with operational efficiency.
Environmental and Operational Considerations
The Gekko Processing Plant’s design aligns with EMC’s commitment to environmentally responsible mining practices, employing no cyanide or harmful chemicals. This low-cost, modular system enables onsite processing of free-milling, high-grade material, reducing logistical complexities and environmental footprint.
EMC’s ongoing reporting and planned updates following refining results at the Perth Mint will provide further clarity on the quantity and quality of gold extracted. These data points will be critical for investors and analysts assessing the project’s economic viability and future development trajectory.
Bottom Line?
As EMC advances refining results and expands exploration, Revere’s gold potential could soon translate into a robust, JORC-compliant resource underpinning future growth.
Questions in the middle?
- What will the final refined gold yield and purity reveal about the economic viability of the Revere Project?
- How will upcoming aircore drilling results impact the size and confidence of the mineral resource estimate?
- What are the timelines and capital requirements for transitioning from bulk sampling to full-scale mining operations?
