EVEREST GOLD(01815.HK): Initial Exploration Progress Achieved at Shannan Mine and Shigatse Mine; Gold Mineralised Zone Delineated in Gudui Area
NewTimeSpace News: Everest Gold (01815.HK) released a voluntary announcement on 5 August 2026, disclosing the latest progress of exploration activities at Shannan Mine and Shigatse Mine.
In the Gudui Area of Shannan Mine, around 24 drilling rigs have been deployed. A mineralised zone trending generally east‑west has been preliminarily delineated, with a traced strike length of approximately 1,000 metres and a down‑dip range of about 500 metres. The mineralised body remains open along strike and at depth. The apparent thickness of mineralised intersections in drill holes ranges from roughly 6 metres to 100 metres. Preliminary assay results of grab samples confirm gold mineralisation, together with associated antimony and cobalt mineralisation in local zones. Mineralisation is mainly hosted in carbonaceous slate and controlled by structural fractures. Geological observations suggest the presence of a hydrothermal gold polymetallic mineralising system within the area.
In the Xiaqiu Area of Shigatse Mine, about six drilling rigs have been mobilised. Narrow chalcopyrite‑bearing veins within hornfelsed and skarn‑altered tuff have been uncovered, indicating local copper mineralisation. Surface trenching has identified skarn‑type polymetallic mineralisation (copper, lead, zinc, silver) and magnetite‑rich intervals. Deep drill holes have detected disseminated and veinlet molybdenite mineralisation within altered granodiorite porphyry. A molybdenum mineralisation outcrop has been discovered in central Xiaqiu Area, discontinuously traced for approximately one kilometre along the east‑west strike. Preliminary analysis of grab samples confirms molybdenum mineralisation.
The Company considers the exploration results support further advancement of exploration work. Additional deep drilling will be carried out to better delineate the boundaries of mineralised bodies.
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