Exciting Developments at Everest Metals in Q2 2023: Revere Gold Project and Mt Edon LCT Project Show Promise

Revere Gold Project

Everest Metals has completed the acquisition of a 51% interest in the Revere Gold Project, marking a significant milestone for the company. In addition, a diamond drilling program has been initiated to explore Volcanic Hosted Massive Sulphide ("VHMS") targets at greater depths. The company has successfully completed three deep holes, totaling 1038m, by early July 2023. Portable XRF results from the drilling indicate the presence of up to 5. 7% copper and up to 4. 2% zinc at various intersections.

Mt Edon LCT Project

Another notable achievement for Everest Metals is the completion of the acquisition of a 51% interest in the Mt Edon LCT Project.

Story Continues.. after this ad because we need some dollarydoos

The project has undergone a Deep Ground Penetration Radar ("DGPR") survey covering 21-line kilometres, which has led to the identification of previously undiscovered pegmatite targets.

Stage 1 RC target drilling, spanning 440m and consisting of 11 holes, has been successfully completed. This drilling has revealed multiple LCT pegmatites. Rock chip sampling has confirmed the presence of high-grade rubidium up to 3. 1% (Rb2O) and lithium up to 4. 6% (Li2O). The potassium/rubidium ratios (K/Rb) indicate the prevalence of highly fertile fractionated pegmatites with world-class rubidium occurrences.

Other Projects and Corporate Updates

Throughout the quarter, Everest Metals has also made significant progress on other projects and corporate matters. The company has successfully completed various transactions, including Joint Venture deals in New South Wales, resulting in the issuance of 1,187,085 ASX:SLB shares valued at $250,000. Additionally, Everest Metals maintains a strong cash position of $2. 16 million as of 30 June 2023.

Post-Quarter Developments

Looking ahead, Everest Metals has witnessed exciting developments beyond the second quarter. Rio Tinto Exploration has begun drilling activities at North Rover to test lithium targets. Furthermore, diamond drilling at the Revere Gold Project has identified a mineralised system in a DeGrussa style.

Cores from the drilling are currently being prepared for assay. Downhole geophysical electromagnetic surveys have been conducted to support the next drill program. Furthermore, Stage 1 RC drilling at the Mt Edon LCT Project has been completed, further confirming the presence of high-grade rubidium.

Everest Metals remains committed to strategic growth and exploration activities. With promising results from the Revere Gold Project and the Mt Edon LCT Project, the company is well-positioned to achieve continued success.

Promote your business on our growing investor platform: Advertise With Us

Like

Reply 122 Share