Everest Metals Corporation has started a 6,000m aircore drilling program at its Revere Gold Project in Western Australia's Murchison Region and appointed Como Engineers to undertake a project scoping study.
The work follows the May 2026 declaration of a maiden Mineral Resource Estimate of 15.0 million tonnes at 0.54 grams per tonne gold for 260,780 ounces. The mineralised system remains open along strike and at depth.
Drilling targets resource growth and confidence
The program is focused on the Armstrong deposit and the northeast extension of Big John within the Revere Shear System. Everest Metals said the infill and extension work will close gaps in known mineralisation, improve geological confidence and test along-strike and down-dip positions.
At Armstrong, about 100 holes are planned across 15 drill fence lines spaced 50m apart, with holes at 20m intervals. Target depths are approximately 60m to 80m. Armstrong currently has an Inferred Mineral Resource of 2.01 million tonnes at 0.50 grams per tonne gold for 32,307 ounces.
Everest Metals expects the drilling to take three weeks, with assay results anticipated in early November 2026.
Scoping study advances project assessment
Como Engineers is targeting completion of the scoping study in the March quarter of 2027. The study will assess potential development pathways based on the existing Mineral Resource while allowing future resource growth to be incorporated. The current resource model indicates potential suitability for open-pit mining with low stripping requirements.
Transaction lifts Everest Metals' JV interest
Everest Metals has agreed to acquire Angelo Levissianos' 5% interest in the relevant Goodins East tenements and joint venture, increasing its interest from 51% to 56%. Entelechy Resources will hold 39% and Laszlo Szalay 5% after completion.
The release says the wider ownership rationalisation includes the acquisition of 100% of E51/2119 and increased interests in M51/905 and E51/1766.
Total consideration is $150,000 cash and one million fully paid Everest Metals shares. The restructuring will also reduce the gross revenue royalty over E51/2199 and E51/1770 from 2.0% to 1.0% and extinguish separate surface mining and alluvial rights.
The announcement confirms active drilling and a scoping study, but does not state job numbers, vacancies or a recruitment timetable.
Source: Everest Metals Corporation, Resource Expansion Drilling, Scoping Study and JV Interest Rationalisation at Revere Gold Project, WA, 15 September 2026.