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Everest Metals Eyes Near-Term Production After Bonanza Gold Grades at Mt Dimer Taipan

• Bonanza gold grades from RC drilling at Mt Dimer Taipan boost open-pit confidence.

• Near-term cash flow from Mt Dimer Taipan via toll processing is imminent.

• Non-dilutive funding and technology development at Mt Edon provide strategic upside.

Everest Metals (ASX: EMC) has reported significant bonanza-grade reverse circulation (RC) drilling results at its Mt Dimer Taipan Gold Project, reinforcing confidence in its open-pit resource and near-term production plans.

An infill RC drilling program, completed between January and February 2026, encompassed 52 holes for a total of 2,160 metres.

The drilling returned significant gold intercepts, including 8 metres at 10.1 grams per tonne (g/t) gold from 35 metres.

Within this zone, even higher grades were recorded, with 2 metres at 29.8 g/t gold, and a standout 1 metre interval grading 127 g/t gold.

Everest noted that mineralisation at Taipan remains open along strike, with potential extensions to both the north and south of the current pit area.

Near-Term Production Underway

These promising drilling results bolster confidence in the open-pit resource as **Everest **advances towards near-term production.

Mining operations at Mt Dimer Taipan are well underway, with more than 45,000 tonnes of mineralised material already delivered to the run-of-mine (ROM) pad.

The company has a 200,000 tonnes per annum (tpa) toll-processing agreement in place, with ore processing slated to commence in April 2026.

Crucially, the project’s development is supported by non-dilutive funding.

A Right to Mine agreement with MEGA Resources provides up to A$18.6 million.

Resource and Exploration Update

The current Inferred Mineral Resource for the Mt Dimer Taipan Project stands at 722 kilotonnes at 2.10 g/t gold for 48,545 ounces of gold, and 3.84 g/t silver for 89,011 ounces of silver.

An updated Mineral Resource Estimate (MRE) is targeted for Q2 2026, which could potentially further enhance the project’s overall economics and contained ounces.

Beyond Mt Dimer, Everest Metals also continues to progress its Revere Gold Project.

Previous drilling at Revere has confirmed continuous gold mineralisation along the 6 kilometre Revere Reef, with a maiden JORC Mineral Resource Estimate also targeted for Q2 2026.

“With mining accelerating, stockpiles building rapidly, and processing imminent, Mt Dimer is well-positioned to generate meaningful near-term shareholder value,” chief executive officer Mark Caruso said.

Mt Edon Critical Minerals Progress

Parallel to its gold efforts, Everest Metals is making strides at its Mt Edon Critical Minerals Project, focusing on rubidium and lithium.

The company recently secured an A$490,500 AEA Ignite grant in collaboration with Edith Cowan University.

This grant aims to fast-track the Direct Rubidium Extraction (DRE) technology, advancing its Technology Readiness Level from TRL 4 to TRL 6 over 12 months.

The strategic goal for Mt Edon is to establish Australia’s sovereign rubidium supply, reducing reliance on international supply chains.

Lab-scale tests have demonstrated impressive rubidium recoveries of up to 97%.

Source: SmallCaps