Everest Metals expects to start toll processing of Mt Dimer ore in late September 2026. Pic: Getty Images
- Everest Metals is weeks away from first gold at Mt Dimer
- More than 130,000t of ore is stockpiled on the ROM pad
- Fresh high-grade hits point to resource growth upside
Special Report: With mining, grade control drilling and ROM stockpiling progressing well, Everest Metals is just weeks away from starting gold production at its Mt Dimer Taipan project in WA’s Eastern Goldfields.
More than 130,000t of material has been stockpiled on the run-of-mine pad ahead of the start of toll processing at Medallion Metals’s (ASX:MM8) Cosmic Boy processing facility.
Toll processing is expected to start in late September 2026 under a 200,000t agreement reached by mining partner MEGA Resources.
Everest Metals Corporation (ASX:EMC) adds that recent drilling has returned more high-grade intercepts which could deliver resource boosts.
Notable results are:
- 7m grading 16.1g/t Au from a down-hole depth of 9m including 2m at 43.6g/t from 10m in TPG0110;
- 12m at 6.2g/t Au from 10m including 4m at 15.8g/t from 10m in TPG0086; and
- 6m at 8.3g/t Au from 17m including 2m at 17.8g/t from 19m in
EMC chief executive officer Mark Caruso said the company and MEGA had continued to advance mining activities at Mt Dimer.
“Grade control drilling is ongoing allowing a better understanding of total recoverable
ounces from the current operation and expanding the known resource to underpin a potential Phase 2 mining pit,” Caruso said.
“The Right to Mine Agreement with MEGA has enabled us to accelerate development activities at Mt Dimer and positions the Company to pursue near-term positive cash flow generation subject to gold price.”
Mt Dimer Taipan
Mt Dimer-Taipan sits on a granted mining lease 150km northwest of Kalgoorlie and 120km northeast of Southern Cross.
It was last mined in the mid-1990s when gold traded at ~$500/oz with the open pit producing about 8500oz at an average grade of 3.44g/t.
No significant production or exploration has been completed since 1996 until the company acquired the project.
Mt Dimer has a resource of 722,000t at 2.10g/t for 48,545oz contained gold along with 3.84g/t silver for 89,011oz.
EMC executed a Right to Mine agreement with MEGA in October 2025, which includes the provision of up to $18.6m in financing with MEGA also providing operational and technical geological management of all mining, haulage and third party ore processing at Mt Dimer.
MEGA started site preparation for open-pit operations in November 2025 with first ore extraction achieved in January 2026.
Initial blasts and free-dig activities have enabled the removal of waste material and supported the stockpiling of material that is now sitting on the ROM pad.
Current mining and grade control activities are being undertaken in parallel with ongoing resource growth drilling, positioning EMC to advance near-term production objectives and longer-term resource expansion at Mt Dimer.
Mineralisation remains open along the northern strike, presenting an opportunity to add gold and silver ounces through targeted follow-up drilling.
Furthermore, the company is currently drilling on its exploration lease adjacent to the Mt Dimer operation with a goal to making a further gold discovery sitting between EMC’s Mt Dimer Taipan Project and the Beacon Minerals Mt Dimer operations.
This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
