Everest Metals Corporation (ASX: EMC) has commenced resource definition drilling at the Mt Edon critical mineral Project (M59/714) located 5km southwest of Paynes Find, in the Mid-West region of Western Australia.
Drilling follows the establishment of an initial Exploration Target (JORC 2012) of 3.2 to 4.5 million tonnes at a 0.23 to 0.35% Rubidium.
“The more we dig into the growing global Rubidium market the more excited we are to have this potential world class deposit at the Mt Edon project, on a granted mining lease, just a few kilometres south of Paynes Find, Western Australia,” CEO and Executive Chairman, Mark Caruso, said.
“The Mt Edon project has a current exploration target of 3.2 to 4.5m tonnes with a grade of 0.23 to 0.35% Rubidium, highlighting the potential scale and grade of the project. We look forward to updating the market on product development in coming weeks.”
Resource definition drilling will be comprised of two phases and occur during early May 2024 and August/September 2024.
Phase 1) ~1,400m RC drilling- 12 x holes at a spacing of 40m along strike and 20m across strike,
- 4 x holes to test individual pegmatites parallel to the main ore body,and
- This phase will define a mineralised wireframe and generate a maiden JORC 2012 Mineral Resource Estimate (MRE)
- Infill drilling extending to 20m along strike designed to be used in the calculation of an indicated JORC MRE
- Timing of MRE–December quarter 2024
Mt Edon Pegmatite Project sits on mining lease M59/714 and covers the southern portion of the Paynes Find greenstone belt in the southern Murchison which hosts an extensive pegmatite field.
There are several large irregular shaped felsic pegmatites which have intruded into the Paynes Find Greenstone Belt, a northeast trending sequence of mafic, ultramafic, and sedimentary rocks, with east- west structures cutting these metasediments.
Pegmatites appear to be folded sills dipping in variable directions and angles and are connected at depth representing both sill and dyke structures. These prospective pegmatites have a northeast-southwest strike of up to 350m and occur along a 1.2km interval of the LCT Pegmatite corridor.
Larger pegmatitic bodies appear less influenced by the underlying structural trends and fabrics, with many of these bodies cutting both structural fabrics. The larger pegmatitic bodies are interpreted as blowouts related to structural intersections.
