EMC Launches 6,000m Revere Drilling, Files Rubidium Extraction Patent, Targets Q2 Mt Dimer Mining

Revere Gold Project: Drilling and Bulk Sampling Momentum

Everest Metals Corporation Ltd (ASX: EMC) has made significant strides in its March 2025 quarter activities, notably commencing a 6,000-metre regional aircore drilling campaign at its Revere Gold Project in Western Australia. This program aims to systematically test the strike continuity of the Revere Reef mineralised system, which extends over 7 kilometres. By the end of March, over half of the drilling was completed, with assay results expected by late May.

Complementing the drilling, the company has advanced its bulk sampling program, successfully commissioning on-site gold concentrate production using its Gekko Gravity Gold Processing Plant. The extraction of gold onsite marks a milestone, validating processing methods and generating cash flow amid a favourable gold price environment. A second pit excavation has been completed, with crushing operations underway, and the bulk sampling program is on track for completion by Q2 2025. These efforts underpin the anticipated maiden JORC Mineral Resource Estimate (MRE) for Revere, scheduled for late Q2.

Mt Edon Critical Mineral Project: Innovation and Resource Development

At the Mt Edon Critical Mineral Project, EMC filed a provisional patent application for its Direct Rubidium Extraction (DRE) technology, a breakthrough method that demonstrated over 90% rubidium recovery in metallurgical testwork conducted with Edith Cowan University’s Mineral Recovery Research Centre. This patent filing secures intellectual property rights and supports the company’s strategy to deploy advanced, environmentally friendly extraction techniques.

The Mt Edon project boasts a maiden inferred JORC Mineral Resource Estimate of 3.6 million tonnes grading 0.22% Rb2O and 0.07% Li2O, including a high-grade zone with 1.3 million tonnes at 0.33% Rb2O. Rubidium’s strategic importance in defence, aerospace, and energy sectors, combined with its limited supply, positions Mt Edon as a potentially world-class critical minerals asset. EMC is progressing engineering scoping studies and refining purification processes to enhance cost-effectiveness, while actively engaging with potential offtake partners.

Mt Dimer Taipan Gold & Silver Project: Towards Mining Commencement

Progress at the Mt Dimer Taipan Gold & Silver Project includes submission of a mining proposal and receipt of a vegetation clearing permit covering over 10 hectares. An open-pit optimisation assessment supports a small-scale mining operation on a toll-treatment basis, targeting a mining start in Q2 2025. The project’s current inferred resource stands at 722,000 tonnes grading 2.10 g/t gold and 3.84 g/t silver, with strong potential to extend mineralisation along strike and at depth.

Corporate and Financial Highlights

Financially, EMC maintains a solid cash position of $3.3 million as of 31 March 2025. The company received a $128,000 R&D tax refund related to its rubidium and lithium extraction activities, reflecting government support for its innovative work. Additionally, $0.7 million in Junior Minerals Exploration Incentive (JMEI) credits were distributed to shareholders from the FY24 capital raise, enhancing shareholder value.

EMC continues to engage with investors and stakeholders, recently hosting a webinar to update on project progress and strategic outlook. The company’s diversified portfolio spans precious metals, base metals, and critical minerals across Western Australia and the Northern Territory, positioning it well to capitalise on evolving market demands.