Everest drilling points to Mid West mineral mountain

Everest Metals Corporation is on the hunt for potential ore-grade gold and base metals mineralisation in an area of about 22 square kilometres at its Revere project in Western Australia’s Mid West region following an initial drilling program.

The company interprets the results from the campaign as evidence of proximity to potentially significant styles of mineralisation such as base metal sedimentary exhalative (SEDEX) deposits and possible orogenic gold. SEDEX deposits are zinc-lead accumulations interpreted to have been formed by the discharge of metal-bearing fluids onto the sea floor, resulting in the precipitation of mainly stratiform ore, often with thin laminations of sulphide minerals.

Drilling comprised an initial phase-one stage, with three diamond holes for a total of 1038.4m. Between them, the three holes intercepted anomalous zinc ranging from 107 parts per million to 1710ppm, with accompanying silver in the range of 27.8 grams per tonne to 83.5g/t, gold values ranging between 0.5g/t to 1g/t and anomalous copper between 190ppm and 435ppm through intercept widths between 1m and 9m and  with an associated arsenic run averaging 42ppm arsenic through 14m in one hole.

In the second phase of drilling, two more diamond holes were put in for 778.1m to test electromagnetic conductors, while a single reverse-circulation (RC) hole was drilled for 300m.

Results from one diamond hole indicate the existence of a mineralising feeder zone nearby and scored runs up to 420ppm copper and 0.5 per cent zinc in intercepts ranging in length from 2m to 7m. The second diamond hole hit zinc in the range of 116ppm to 323ppm through intercepts between 1m and 8m, with accompanying anomalous copper to a maximum of 140ppm and lead to 146ppm.

The RC hole sought to test a geophysical conductor and picked up an 8m anomalous zone carrying 163ppm zinc and 55ppm lead intersected from 288m to 296m depth.

Everest Metals Corporation chief operating officer Simon Philips said: “These results from EMC’s first pass deep holes confirm the potential of the Revere Project to host multiple copper-gold-zinc deposits, given the significant mineralisation intersected at targets spread over an area of 8.5km2. DHEM surveys indicate the conductive plates extend to the survey tool open limits. Mineralisation is open both laterally and in down-plunge directions.”

Phillips said leading area geologist Bruce Hooper had confirmed that the results displayed a typical orogenic gold signature, providing significant follow-up targets.

The company says that although the high-grade intersections intersected to date are narrow, the overall tenor, grade and lateral extents of the mineralisation is encouraging and supports continued exploration along the corridor. It relates the signature and style of mineralisation to the old Thaduna Green Dragon copper-gold deposit, 180km north-east of Meekatharra, where Sandfire disclosed a resource of 8.2 million tonnes at 1.8 per cent copper and 3.7g/t silver for 150,000 tonnes of copper and 963,000 ounces of silver in 2017.

The Revere project lies 90km to the north-east of Meekatharra in WA’s Murchison region and is 900km north of Perth. It comprises two granted exploration and two prospecting licenses and pending applications for a single exploration licence and three mining licences.

It covers an area of 82sq km and notably, is situated just 55km south-west of and along strike from the DeGrussa and Monty copper-gold mines. It is also strategically located in the Doolgunna region which, in addition to the Degrussa and Monty operations, hosts many past and current ventures.

They include the Labouchere and Fortnum gold mines, the Thaduna and Thaduna Green Dragon copper-gold-silver deposits, the Enigma copper prospect and the Horseshoe Lights copper-gold mine.

Everest believes its six recent drillholes have intercepted a marginal, or possibly a feeder zone to base metals and silver-gold mineralisation. It plans further drilling followed by downhole electromagnetic surveys (DHEM) and an air-core (AC) drilling program to follow up geochemical signatures and vertical time domain electromagnetic (VTEM) anomalies to better identify pinpoint the mineralisation sources that have produced such an extensive signature.

And if management can prove up its beliefs, Revere might well become a project to be truly revered.

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