Evergreen Lithium Expands WA Gold Portfolio with Acquisition of Queens and Mt Monger Projects
Evergreen Lithium (ASX: EG1) is set to expand its gold portfolio in Western Australia with the proposed acquisition of the highly-prospective Queens and Mt Monger projects.
The Queens tenement package comprises the Queens North, Queens Central and Queens South areas, with a total of eight prospecting licences and two exploration licences nearby to the company’s Leonora gold project, while Mt Monger comprises two prospecting and seven exploration licences south-east of Kalgoorlie.
Existing regional infrastructure including sealed roads, grid power and proximity to processing plants will support Evergreen’s exploration and development of both projects.
Emerging Producer
Evergreen chair Simon Lill said the acquisition reinforced the company’s status as an emerging producer in WA’s premier gold mining district.
“These standout projects will bolster our gold exploration and development pipeline and offer substantial exploration upside, with Queens complementing our Leonora assets and Mt Monger providing access to a consolidated tenement package in a historically-productive area,” he said.
“This strategic acquisition aligns with our vision to accelerate resource growth and establish Evergreen as a gold explorer and producer.”
Queens Location
Queens North is located on strike between the historic Wilson’s Patch gold mine that produced a total 35,155 ounces, and Infinity Mining’s (ASX: IMI) 48,600oz inferred resource at Craig’s Rest.
Recent geophysical surveys identified high-priority targets at M3 and M4 along the Craig’s Fault, and Mr Lill said Evergreen’s immediate exploration efforts would focus on the M3 zone.
Queens Central is proximal to the Teutonic Bore mineralisation system that hosts copper-zinc-silver-gold deposits, while historical workings at Queens South indicate near-term exploration potential.
“Queens delivers a highly-prospective package with significant upside for gold and base metal mineralisation, enhanced by its proximity to our existing resources,” Mr Lill said.
Mt Monger Package
The Mt Monger contiguous tenement package sits within a prolific gold region with 1.7Moz of historical and current gold production.
Key targets include Duchess of York, where best historical intercepts included 40m at 2.49 grams per tonne gold from 32m, 20m at 2.87g/t gold and 6m at 3.63g/t gold.
The Gladiator, Peter’s Dam, Samurai, Red Dale North, and Kiaki Soaks prospects all have shallow drilling results and sit within 5 kilometres of untested strike.
Exploration planning is already underway, with Evergreen’s work to focus on high-priority geophysical targets at Queens and depth/strike extensions at Mt Monger.