Everest Metals Confirms High-Grade Gold Continuity at Mt Dimer with Drilling and Mining Progress
Everest Metals Corporation (ASX:EMC) has completed a 3,078m grade control drilling program at its Mt Dimer Taipan Gold Project, delivering multiple high-grade gold intersections and advancing mining operations ahead of a resource update targeted for Q3 2026.
- 3,078m grade control RC drilling completed with strong high-grade gold hits
- Over 90,000 tonnes of ore stockpiled ahead of first processing campaign
- Mineralisation remains open north and south, indicating upside potential
- Inferred resource of 722,000 tonnes at 2.1 g/t Au for 48,545 ounces gold
- Non-dilutive funding and mining expertise secured via Right to Mine Agreement
High-Grade Gold Intersections Reinforce Mt Dimer’s Potential
Everest Metals Corporation Ltd (ASX:EMC) has bolstered confidence in its Mt Dimer Taipan Gold Project with a recent 3,078-metre grade control reverse circulation (RC) drilling program returning multiple high-grade gold intersections. Highlights include a standout 7 metres at 16.1 g/t gold from 9 metres, including 2 metres at a staggering 43.6 g/t from 10 metres, alongside other notable hits such as 12 metres at 6.2 g/t and 6 metres at 8.3 g/t. These results confirm the geological model’s robustness and continuity of mineralisation within the current pit design, providing valuable data to underpin mine planning and ore scheduling.
Mining Operations Accelerate with Significant Ore Stockpile
Mining activities at Mt Dimer have gained momentum under a strategic partnership with MEGA Resources Pty Ltd, with over 90,000 tonnes of mineralised material already delivered to the run-of-mine (ROM) pad. This substantial stockpile sets the stage for the project’s first ore processing campaign, planned to leverage toll-treatment at a nearby facility. The mining operation is progressing safely and efficiently, aligning with EMC’s low-capital-intensity model aimed at unlocking value through gold and silver production.
Resource Growth Prospects and Upcoming Update
The Mt Dimer Taipan deposit currently hosts an inferred JORC Mineral Resource Estimate of 722,000 tonnes at 2.1 g/t gold, equating to approximately 48,545 ounces of gold, with an additional 89,011 ounces of silver at 3.84 g/t. Importantly, mineralisation remains open to the north and south, suggesting potential extensions beyond the current pit limits. EMC is targeting an updated Mineral Resource Estimate in the third quarter of 2026, which may incorporate the recent drilling data and any new mineralised zones identified during mining.
Strategic Funding and Operational Partnership
The project benefits from a Right to Mine Agreement signed in October 2025 with MEGA Resources, providing EMC with access to up to A$18.6 million in non-dilutive funding. This arrangement also leverages MEGA’s mining expertise, allowing EMC to advance development while optimising capital deployment. Mining commenced in January 2026, and the company is progressing steadily towards its maiden ore processing campaign, with the drilling results reinforcing operational confidence.
Geological Setting and Historical Context
Mt Dimer lies within Western Australia’s Archean Diemals-Marda Greenstone Belt, a well-established gold province. The mineralisation is hosted within talc-chlorite and amphibolite schists with quartz veins, consistent with the region’s gold-silver deposits. The project includes a mining lease granted until 2034 and has a long exploration history dating back to 1992. EMC acquired the project in 2020 and has steadily advanced exploration and mining activities since.
Bottom Line?
With high-grade drilling confirming resource continuity and mining well underway, EMC’s Mt Dimer project is poised for a resource upgrade and first processing campaign, but the extent of future resource growth remains to be seen.
Questions in the middle?
- How will the upcoming Mineral Resource update impact the project’s valuation and mine plan?
- What are the prospects for extending mineralisation beyond the current open pit boundaries?
- How will toll-treatment arrangements influence project economics and cash flow timing?
