Everest Metals Corporation (EMC) has agreed to acquire and earn up to a 100% stake in the Revere Gold Project (RGP) located north-east of Meekatharra, Western Australia (WA), from an undisclosed firm.
The transaction is subject to due diligence and shareholder approval.
Located along an inferred extension of the Andy Well Greenstone Shear System, the Revere Gold Project covers an area of 82km².
The project with significant gold and copper potential comprises a system of richly endowed Gold Reefs (The Revere Reefs), from the surface over a strike area of 7km.
EMC plans to confirm the surface gold potential of the project by undertaking an initial 36,000t bulk sampling campaign in the first quarter of this year.
EMC chief operating officer Simon Phillips said: “The acquisition of the Revere Gold Project (RGP) represents a transformational opportunity in a proven prolific gold-producing region of Western Australia.
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“Gold and precious metals development is a core pillar in EMC’s business strategy and RGP is highly complementary to the recent developments the company has made in the battery metals sector.
The Revere project is located in the Palaeoproterozoic Yerrida Basin – Doolgunna Formation, which hosts DeGrussa-style volcanic-hosted massive sulphide (VHMS) and Plutonic-style orogenic gold deposits.
Phillips added: “RGP is an advanced asset with significant gold and copper potential – both at surface and at depth – which is clearly evidenced from previous exploration work undertaken across the project, from which there is an abundance of high-quality technical data.”