en.Wedoany.com Reported - Everest Metals (ASX:EMC) plans to commence toll processing at Medallion Metals' (ASX:MM8) Cosmic Boy processing facility in September. The company has advanced mining activities under a non-dilutive mining rights agreement with MEGA Resources and has accumulated over 130,000 tonnes of material in the run-of-mine pad at the Mt Dimer Taipan gold project.

The Mt Dimer project is located in the Eastern Goldfields of Western Australia, 150 kilometres northwest of Kalgoorlie and 120 kilometres northeast of Southern Cross. The project represents a key strategic step in EMC's transition to near-term gold production through a low-capital-expenditure toll processing mining model.

Executive Chairman and Chief Executive Officer Mark Caruso stated that the agreement with MEGA enables EMC to accelerate development activities at Mt Dimer. The company noted that the agreement supports the pursuit of near-term positive cash flow generation in the current gold price environment. Grade control drilling is currently underway, aimed at gaining a more accurate understanding of the total recoverable gold ounces in current operations, while also expanding known resources to support a potential second-phase mining pit.

High-grade drilling intercepts continue to demonstrate resource expansion potential, with one intersection returning 7 metres at 16.10 grams per tonne gold from 9 metres, including 2 metres at 43.60 grams per tonne gold from 10 metres. Other key results include: 12 metres at 6.20 grams per tonne gold from 10 metres, including 4 metres at 15.80 grams per tonne gold from 10 metres; and 6 metres at 8.30 grams per tonne gold from 17 metres, including 2 metres at 17.80 grams per tonne gold from 19 metres.

The mineral resource estimate for the Mt Dimer project shows ore tonnage of 722,000 tonnes at a gold grade of 2.10 grams per tonne, containing 48,545 ounces of gold; and a silver grade of 3.84 grams per tonne, containing 89,011 ounces of silver. The estimate uses a cut-off grade of 1.0 gram per tonne gold, with resource elevations below 380 metres. Mineralisation remains open along the northern strike, providing opportunities for further targeted drilling to add to gold and silver resources.

Everest Metals is a resource company focused on exploring for gold, silver, base metals and critical minerals in first-tier jurisdictions.