Everest Metals Advances WA Gold and Critical Minerals with Resource Upgrades and Mining Progress

High-Grade Drilling Bolsters Mt Dimer Mining Operations

Everest Metals Corporation Ltd (ASX:EMC) has delivered a solid quarter at its Mt Dimer Taipan Gold Project, with a comprehensive 3,078m grade control drilling program returning multiple high-grade gold intersections. Notable hits include 12m at 6.2 g/t Au and 6m at 8.3 g/t Au, supporting confidence in ore continuity and underpinning ongoing mining activities.

Mining under the Right to Mine Agreement with MEGA Resources has advanced steadily, with over 90,000 tonnes stockpiled on the ROM pad as of 30 June 2026, preparing for the commencement of third-party toll processing in Q3 2026. The mineralisation remains open along strike, providing potential for resource expansion beyond the current pit design.

Mt Edon Critical Mineral Project Sees Resource Growth and Processing Breakthroughs

The Mt Edon project has seen a 20% increase in its Mineral Resource Estimate, now totalling 4.3 million tonnes at 0.23% Rb₂O and 0.10% Li₂O, with 63% of the resource classified as Indicated. A higher-grade zone containing nearly half the total rubidium has been delineated, setting the stage for focused development efforts.

Beneficiation and metallurgical testwork have confirmed that the Mt Edon mineralisation is highly amenable to conventional crushing and grinding, achieving mica recoveries exceeding 90%. Further optimisation through the Mineral Research Institute of Western Australia's METS Innovation Program has improved the proprietary Direct Rubidium Extraction (DRE) process, achieving an 89% rubidium extraction yield while cutting reagent use by two-thirds and reducing operating temperatures by 200°C.

These advancements culminate in plans for a 1kg trial production of rubidium chloride targeted for the September 2026 quarter. Meanwhile, the company has formally submitted its Mining Development and Closure Proposal to the Department of Mines, Petroleum and Exploration, with an assessment outcome expected by late 2026.

Maiden 15 Million Tonne Gold Resource at Revere Unlocks Development Pathway

Everest Metals has achieved a significant milestone at its Revere Gold Project, delivering a maiden JORC Mineral Resource Estimate of 15 million tonnes grading 0.54 g/t Au for 260,780 ounces of gold. Over 40% of this resource is classified as Indicated, providing a robust foundation for future technical studies and development planning.

The resource spans the Big John and Armstrong deposits within the Revere Reef shear system, with mineralisation commencing at surface and remaining open along strike and at depth. Only a quarter of the 6km Revere Reef system has been drilled, leaving substantial exploration upside. A 6,000m drilling program is planned for Q3 2026 to expand the resource and refine geological understanding.

Supporting bulk sampling and metallurgical testwork confirm that gold is free milling and amenable to simple gravity separation, with low strip ratios expected from open pit mining. These factors enhance the project's economic prospects as Everest advances scoping studies and resource expansion.

Corporate and Financial Position

On the corporate front, Everest Metals issued 5.5 million performance rights to executives and consultants, linking incentives to share price and project milestones. The company held a cash balance of approximately A$4.2 million at quarter-end, while spending nearly A$900,000 on exploration and A$277,000 on administration during the period.

Looking ahead, Everest plans to complete updated resource estimates for Mt Dimer, continue metallurgical optimisation at Mt Edon, and progress permitting and funding arrangements to scale up its proprietary rubidium extraction technology. The company’s strategic focus on advancing both gold and critical mineral assets positions it well amid evolving market dynamics.