Key Highlights

  • Evergold has started an 8,000-metre Reverse Circulation Drilling campaign at Mt Monger near Kalgoorlie.
  • The main objective is a maiden mineral resource estimate for Duchess of York, expected in early 2027.
  • Exploration will also test a gold-arsenic anomaly at Vanguard and extensional targets at Kiaki Soaks.
  • The company expects first production at Mt Monger by the end of 2027, subject to drilling outcomes and approvals.

Evergold Minerals (ASX:EG1) has started an 8,000-metre reverse circulation (RC) drilling campaign at its Mt Monger Gold Project near Kalgoorlie in Western Australia. The company announced the start on 12 November 2026, saying RC drilling began at the Duchess of York prospect on 11 November.

Red Rock Drilling is carrying out the programme, with Saltbush Contracting having prepared the site.

The campaign has three parts: resource definition drilling at Duchess of York, exploratory drilling at Vanguard and extensional drilling at Kiaki Soaks.

Duchess of York and the maiden resource

The central objective is a maiden mineral resource estimate for Duchess of York, which Evergold expects to deliver in early 2027. Director Glenn Grayson said the resource definition drilling was designed to test the company's view that the system could support such an estimate.

Evergold has also submitted samples from Mt Monger for laboratory analysis and expects first metallurgical testwork results from Duchess of York in the coming weeks. Metallurgy will help determine how readily gold can be recovered and what processing route might suit the ore.

The company has said it expects the combined work at Duchess of York to support first production at Mt Monger by the end of 2027. That is an ambitious timeline, and it depends on the drilling outcome, the resource estimate, approvals and a processing arrangement.

Vanguard: a geochemical target

At Vanguard, Evergold has identified what it describes as a significant gold-arsenic anomaly. The best initial aircore result, reported in September 2026, was 19 metres at 0.86 grams per tonne gold from 28 metres.

Bottom-of-hole multi-element geochemistry has outlined an anomaly measuring about 900 metres by 650 metres, which sits largely within a low-density geological body. Arsenic often accompanies gold in Yilgarn deposits, so a coherent gold-arsenic footprint can be a useful pointer for drilling, although it does not confirm an economic deposit.

Grayson said follow-up drilling would test a footprint extending beyond the existing aircore intercepts.

Kiaki Soaks: testing historical results

Historical work at Kiaki Soaks identified gold mineralisation over 350 metres of strike, including a standout result of 40 metres at 2.49g/t from 32 metres. Grayson said the first holes would test whether those historical results reflected a broader mineralised position.

Historical data needs to be checked against modern drilling before it can contribute to a resource, which is part of the reason extensional and confirmatory holes are planned.

Why it matters

Mt Monger sits in a well-established gold camp near Kalgoorlie, where processing capacity and contractors are available. A maiden resource would give Evergold its first defined inventory and a basis for discussions on development and toll-treatment options.

Caveats

Aircore results provide early indications only, and the reported intervals are downhole lengths. The production target by the end of 2027 is a company aspiration that has not yet been supported by a published Mining study. Drilling results could alter the scale or timing of the resource.

Evergold is a relatively new name in the Goldfields, and the company has framed Mt Monger as the base of a multi-asset gold business. Its recent AGM presentation, released on 6 November, described a path to production in 2027. The current campaign is the first substantial test of that plan, because it will show whether drilling can convert targets and historical intercepts into a defined resource. Running three targets at once spreads the risk, but it also spreads the budget. Early results may show where Evergold chooses to focus later spending.

What comes next

Evergold expects metallurgical results from Duchess of York within weeks, followed by assays from the RC programme as drilling progresses. The maiden resource in early 2027 is the key milestone to watch, along with results that show whether Vanguard and Kiaki Soaks can add further ounces.