Everest Metals delivers fresh LCT results from Mt Edon Project in WA

Gold explorer Everest Metals (ASX:EMC) has encountered ‘high-grade’ rubidium from reverse circulation (RC) drilling within a recently identified lithium-caesium-tantalum (LCT) pegmatite field at its Mt Edon LCT Project in Western Australia. 

The company, which has a $44.01 million market capitalisation, says results have defined multiple LCT pegmatites to a depth of up to 111m within a 1.2km corridor. 

Everest reports these results support its planned drilling program slated for August this year, which is being designed to focus on the lateral extension of ‘high-grade’ zones and undrilled targets. 

This drilling was designed to test deep ground penetration radar (DGPR) targets and structural trends identified through surface sampling and geological mapping. Drilling comprised 11 holes across 9 targets. 

Key results include hole ME 23-07 with 40m @ 0.26% rubidium oxide (Rb2O) from 49m, including 19m @ 0.33% Rb2O and 0.1% lithium oxide (Li2O) from 51m, plus 2m @ 0.23% Rb2O from 1m and 2m @ 0.3% Rb2O from 4m; and hole ME 23-03 with 5m @ 0.26% Rn2O from 1m.

The company notes the rubidium has been interpreted to be in line with ‘world-class’ rubidium occurrences, including the Karibib pegmatite deposit in Namibia and the Guobaoshan deposit in China.

It is Everest’s goal to plan quantitative evaluation of minerals by scanning electron microscopy (QEMSCAN), electron probe micro-analyser (EPMA), and laser ablation inductively coupled plasma mass spectrometry (LA-ICP-MS) studies to better understand the mineralogy of the ‘high-grade’ rubidium. 

This work is also hoped to characterise the mineral assemblage of the LCT pegmatites at Mt Edon.   

These results follow Everest’s announcement yesterday (12 July 2023) that the company had unveiled a ‘DeGrussa-style’ mineralised system at its Revere Gold Project in Western Australia. 

Everest reported this potential system was uncovered by 3 diamond holes and returned copper and zinc grades of up to 5.7% and 4.2%, respectively. 

 Commenting on the results, Everest Metals Chief Operating Officer (COO) Simon Phillips says: “We are very excited with the assay results from such a small drilling campaign. The hunt for the source of this recently discovered LCT mineralisation continues with the proposed stage-two drilling campaign set to commence in early August 2023.”  

We are very excited with the assay results from such a small drilling campaign”

Everest Metals is a Western Australian explorer focused on discovering gold, silver, base metals, and critical minerals in tier-one jurisdictions. The company currently holds ‘high-quality’ precious metal, battery metal, and critical mineral projects in Australia. 

The Mt Edon Project is located in the southern portion of the Paynes Find Greenstone Belt — an area known to host swarms of pegmatites and that is ‘highly prospective’ for critical minerals. 

Everest Metals had $2.9 million cash at hand on 31 March 2023, as stated in its latest quarterly report. 

Write to Adam Drought at Mining.com.au

Images: Everest Metals Corporation Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.