Everest Metals Corporation (ASX: EMC) has received high-grade Rubidium results up to 0.54% and lithium up to 1% from its Phase 1 Resource Drilling at the Mt Edon Critical Mineral Project (M59/714) located 5km southwest of Paynes Find, in the Mid-West region of Western Australia.
“The resource drilling results solidifies EMC’s Mt Edon project as one of, if not the highest-grade Rubidium projects in the world," CEO and Executive Chairman, Mark Caruso, said.
"The project is further enhanced by its location at Paynes Find directly adjacent to the Great Northern Highway, on a granted mining lease. We are excited to deliver an initial JORC resource in the coming weeks with an exploration target of 3.2 to 4.5 million tonnes grading at 0.23-0.35% rubidium."
The Phase 1 Resource Drilling Programme commenced early May 20242 and the drilling pattern was designed to complete a spacing of ~40m along strike, with the outcome being to define a mineralised wireframe and generate a maiden JORC 2012 Mineral Resource Estimate (MRE).
Furthermore, to test the lateral extension of high-grade zones defined in the northeast corner of the Mt Edon tenement. The drilling programme confirmed the existence of the main targets identified from the Deep Ground Penetration Radar (DGPR) programme and their northeast-southwest structural trends in the northeast corner of the mining lease.
The drilling included 14 x Reverse Circulation (RC) holes with an average depth of 90m.
The drilling programme was very successful, and pegmatites were intersected in most of the drill holes, covering about 56% of samples (715m pegmatite vs 1,266m total drilled metres). Included in this programme is a very thick pegmatite intersection of 125m from the surface in one drill hole (MD-50).