Everest Metals has successfully extracted its first gold during the commissioning phase of a bulk sample program at the Revere Gold Project in Western Australia. The program has so far produced 1.4 tonnes of gold concentrate and remains ongoing.
The bulk sampling program has validated the company’s understanding of the gold mineralization and geo-metallurgical characteristics, marking progress toward defining a maiden resource estimate. CEO Mark Caruso described this phase as a significant milestone, noting that further processing in Perth benefits from record-high gold prices, generating cash flow to support Everest’s broader portfolio.
Everest Metals, with a market capitalization of $35.8 million, plans to build on the bulk sampling results with an advanced aircore drilling program. This phase will focus on extending the mineralized reef system along strike, enhancing the company’s understanding of high-grade mineralization and unlocking additional project value.
The Gekko Processing Plant, which supports the project, has exceeded its nameplate capacity of 10 tonnes per hour, processing 1,700 tonnes of stockpiled material last month. The plant provides a low-cost and environmentally friendly gold processing solution, operating without cyanide or chemicals.
The Revere Project is located 90km northeast of Meekatharra, near the Great Northern Highway. The project benefits from favorable market conditions, with gold prices reaching $4,640 per ounce on February 14, continuing an upward trend driven by global economic factors.
