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Everest Metals reports high-grade results from bulk sampling at Revere gold project

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By Imelda Cotton - 
Everest Metals ASX EMC bulk sampling Revere gold project
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Everest Metals (ASX: EMC) has reported strong drilling results as part of a bulk 36,000-tonne sampling program at the Revere gold and base metals project in Western Australia.

The sampling was designed to delineate the extent of high-grade gold mineralisation over a small section of the Revere Reef system, which extends over 7 kilometres.

The company commenced initial drilling and blasting of 96 holes to a depth of 12 metres each in April.

Samples were collected at 1m intervals from a depth of 2m to the end of the hole, with a total of ten samples collected from each hole.

No samples were taken from the top 2m of each hole due to the potential presence of ex-situ material caused by site preparation and historical surface work.

Assay technology

Everest submitted 960 samples for assay using PhotonAssay high-energy x-ray fluorescence technology, deemed to be a more accurate and environmentally friendly technique than conventional fire assay.

The best results were 97 grams per tonne gold from 8m, 46.8g/t gold from 2m, 81.4g/t gold from 3m, 38.7g/t gold from 2m and 21g/t gold from 3m.

New gold system

Chief executive officer Mark Caruso said the near-surface results confirm and support the existence of a new gold system at Revere Reef.

“The Revere Reef system has delivered prolific gold from the surface over many years, so it is pleasing to receive assays consistent with the smaller bulk sampling programs previously completed over the tenure,” he said.

“We regard this latest sampling program as the beginning of what will be a systematic and methodical approach to ultimately unlocking what we believe to be a large orogenic gold system at Revere Reef.”

Historical results

Mr Caruso said the company hopes to generate an inferred and indicated mineral resource estimate through the conversion of historical results ranging in grade from 17 to 325g/t gold.

The entire program is expected to take six months to complete, after which Everest will progress with an aircore drilling campaign to establish additional resources with near-surface gold potential.