Everest Metals Corporation Ltd. has delivered an updated JORC mineral resource estimate for its Mt Dimer Taipan gold project in Western Australia, establishing Measured and Indicated Resources at the site for the first time.
The project’s updated resource stands at 975,000 tonnes at 1.37 grams per tonne (g/t) of gold for 43,000 ounces, applying a 0.5 g/t cut-off grade. High-confidence Measured and Indicated categories now account for 32 per cent of contained gold, transitioning the asset from its purely Inferred 2021 maiden estimate.
The resource update integrates data from more than 7,200 metres of recent reverse circulation drilling and direct operational observations from open-pit mining, which commenced in January under a right to mine agreement with MEGA Resources and Bain Global Resources.
Operations at the pit have already yielded an Indicated stockpile resource of 142,000 tonnes grading 1.33g/t gold, containing 6,072 ounces of gold currently resting on the run-of-mine pad ahead of planned toll processing. The remaining in-situ resource holds 36,906 ounces within Mining Lease M77/515.
Everest Metals CEO Mark Caruso said the milestone reflects the project’s progression into an active, cash-generating operational site.
“When the maiden resource was reported in 2021, it was an exploration project with an Inferred estimate,” Caruso said.
“It is now an operating mine, and this estimate is the first built on what we have learned from close-spaced drilling and from mining the deposit itself.”
Currently, more than 140,000 tonnes of ore have been extracted from the Mt Dimer Taipan open pit and are currently stockpiled on the run-of-mine (ROM) pad. The stockpile provides an accumulated ore inventory for planned toll-processing campaigns, subject to final scheduling, haulage logistics and processing-facility availability under the company’s existing arrangements.
“From here, the focus is on turning stockpiled material into cash flow through toll processing under our non-dilutive arrangement with MEGA, while drilling continues to test the deposit at depth, where it remains open,” Caruso said.
