Everest Metals Boosts Revere Gold Project with Armstrong Tenement Acquisition

Strategic Expansion in a Proven Gold Region

Everest Metals Corporation Ltd (ASX – EMC) has taken a significant step forward in its gold exploration ambitions with the acquisition of Exploration License E51/2088, known as Armstrong, at its Revere Gold Project in Western Australia. Situated in the prolific Murchison Region, approximately 90 kilometres northeast of Meekatharra, this tenement acquisition notably expands the project’s footprint in a historically productive gold district.

The Revere Gold Project lies near established copper-gold mines such as DeGrussa and Monty, positioning Everest Metals in a corridor with strong mineralisation potential. The Armstrong tenement acquisition complements recent drilling successes and adds a new dimension to the company’s resource growth strategy.

Encouraging Drilling Results Signal Potential

Recent aircore drilling at Armstrong has intersected multiple zones of gold mineralisation, with assays confirming both low and high-grade gold. Highlights include a standout intercept of 3.53 grams per tonne (g/t) gold over one metre, alongside other significant intervals such as 1.28 g/t and multiple near-surface grades around 1 g/t. These results confirm a broadly distributed gold system with localised high-grade zones, underpinning the tenement’s exploration potential.

Notably, a new target area dubbed Mineralised Zone 2 has been identified within Armstrong, covering an extensive area with geological features indicative of a large-scale mineralised system. Historical costean sampling in this zone has previously recovered significant gold nuggets, reinforcing the prospectivity of the area.

Acquisition Terms and Project Advancement

The acquisition deal with Angelo Michael Levissianos is structured to minimise immediate cash outlay, involving a $60,000 payment and the issuance of 2 million EMC shares at a deemed price of 10.5 cents each. Half of these shares are escrowed for 12 months or until the announcement of an inferred JORC resource, whichever comes first. Additionally, surface mining rights allow for extraction of up to 1,000 tonnes within the next year under the current program of work.

Everest Metals is actively progressing the Revere Gold Project towards its maiden JORC Mineral Resource Estimate, a critical milestone for advancing the project’s valuation and development potential. Concurrently, the company is navigating the final stages of native title negotiations and conducting flora and fauna studies, essential steps for mining lease approval.

Geological Context and Future Prospects

The Revere project is situated along an inferred extension of the Andy Well Greenstone Shear System, a geological setting known for mesothermal gold deposits. The project’s Revere Reef system exhibits classic precious metal ductile shear characteristics, with gold mineralisation hosted in quartz veins and stockwork systems. The presence of coarse visible gold within quartz breccias and a well-developed saddle reef structure draws parallels with renowned Victorian goldfields, suggesting strong upside potential.

Everest Metals’ approach involves close-spaced drilling and bulk sampling to delineate the resource accurately, targeting both near-surface and deeper mineralised zones. The Armstrong acquisition and recent drilling results enhance the company’s pipeline, positioning EMC as an emerging gold producer in a Tier-1 jurisdiction.