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Everest Metals Corporation Ltd (ASX:EMC)

ALERT: Price-sensitive ASX Announcement for EMC
Current share price for EMC : $0.098 -0.022 (-18.33%)+
Announcement
Release
6 Nov 2025 8:14AM
Price at Release
$0.120
Full Release
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Summary
Everest Metals Corporation Ltd (EMC) has initiated a 2,500-meter reverse circulation (RC) drilling program at the Mt Dimer Taipan Gold Project in Western Australia. The project aims to expand the existing mineral resources by targeting open southern strike and down-dip extensions. This program is supported by a partnership with MEGA Resources, providing up to A$18.6 million in non-dilutive funding. The drilling will help infill and upgrade the current Inferred Mineral Resource of 722kt at 2.10 g/t Au and 3.84 g/t Ag, and is expected to be completed in two weeks, with assay results anticipated in December 2025. The project, fully permitted with approvals from DMIRS, is poised for initial ore extraction in November 2025, and processing is set to commence in March 2026.
Key Points
  • 2,500m RC drilling underway to grow existing Resource at Mt Dimer Taipan.
  • Targets include open southern strike and down-dip extensions.
  • MEGA Resources provides A$18.6 million non-dilutive funding.
  • Current Inferred Mineral Resource is 722kt at 2.10 g/t Au and 3.84 g/t Ag.
  • Drilling completion and assay results expected by December 2025.
  • Fully permitted project with Mining Proposal and Mine Closure Plan approved.
  • Initial ore extraction scheduled for November 2025, processing in March 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.