Everest Metals started a 2,000m RC drill program at Mt Dimer under the WA EIS scheme. The program targets gold extensions near Beacon Minerals' mine.
Everest Metals Corporation (ASX:EMC) started a 2,000-metre reverse circulation drilling program at the Mt Dimer exploration project in Western Australia.
The WA government's Exploration Incentive Scheme is picking up half the tab. Round 32 of the EIS program will reimburse up to 50% of direct drilling costs, capped at $145,000.
Mt Dimer sits 150 km northwest of Kalgoorlie and 120 km northeast of Southern Cross. The drilling is testing ground 1.5 km west of EMC's own Mt Dimer-Taipan gold project and 4 km east of Beacon Minerals' (ASX:BCN) Mt Dimer mine. Beacon's deposit carries an inferred and indicated resource of 440,000 tonnes at 3.6 grams per tonne.
Mark Caruso, EMC's executive chairman and CEO, called the EIS backing an "exciting opportunity to advance exploration" at Mt Dimer.
A 2021 soil geochemical program, the company reported, returned assays up to 430 parts per billion gold and 420 parts per million arsenic, defining two significant gold and arsenic anomalies in the E77/2383 permit. The strong spatial correlation between the elements supports the targets. The company identified the zones through mineral mapping and structural interpretation.
The program follows a scout RC drilling campaign in May 2025 that tested two anomalies, with inclined holes reaching 120 metres in depth.
Anomaly A, the priority target, spans roughly 700 metres by 300 metres. EMC said the geological and geochemical features are consistent with orogenic gold and BIF-hosted mineralisation, similar to the nearby Mt Dimer mining operations.
EMC shares last traded at 12 Australian cents, giving the company a market cap of roughly $35 million.
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