Western Australia-based explorer Everest Metals (ASX:EMC) has restarted drilling at the Mt Edon Lithium-Caesium-Tantalum (LCT) Project in Western Australia.
The $22.65 million market capitalisation company says up to 10 reverse circulation (RC) holes will be drilled to test multiple pegmatite targets in the area that were previously identified through a Deep Ground Penetration Radar (DGPR) geophysical survey.
Drilling is also following up on previous drill results, such as drillhole ME23-007, which returned 40m @ 0.26% rubidium oxide (Rb2O) from 49m, including 19m @ 0.33% Rb2O and 0.1% lithium oxide (Li2O) from 51m.
Commenting on drilling restarting, Everest Chief Operating Officer (COO) Simon Phillips says: “The EMC geological team continues to systematically work its exploration program at the Mt Edon Mining Lease. Each program is bringing us closer to the source of rich lithium and rubidium, which has been shown at surface through our rock chip program.”
“Each program is bringing us closer to the source of rich lithium and rubidium, which has been shown at surface through our rock chip program”
The Mt Edon Project covers the southern portion of the Paynes Find greenstone belt in the southern Murchison region, which hosts an extensive pegmatite field.
Everest Metals is an ASX-listed company focused on uncovering gold, silver, base metals, and critical minerals in tier-one jurisdictions.
As of 30 June 2023, the company had $2.146 million cash and cash equivalents at hand, according to its latest quarterly report published on 24 July 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Everest Metals Ltd
