{"id":10185,"date":"2024-05-28T00:36:44","date_gmt":"2024-05-28T00:36:44","guid":{"rendered":"https:\/\/economicherald.net\/?p=10185"},"modified":"2024-05-28T00:36:44","modified_gmt":"2024-05-28T00:36:44","slug":"everest-metals-on-track-for-significant-rubidium-resource","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10185","title":{"rendered":"Everest Metals on track for significant rubidium resource"},"content":{"rendered":"<p>Everest Metals resource drilling intersects multiple pegmatites, expands existing target area<br \/>\nDrilling designed to enable definition of maiden rubidium resource at Mt Edon<br \/>\nAssays expected in early July 2024 with Phase 2 drilling planned for Q3 2024<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Everest Metals could be looking at a significant maiden rubidium resource for its Mt Edon project in WA\u2019s Mid-West after resource drilling intersected multiple pegmatites and expanded the existing target area.<\/strong><\/p>\n<p>Mt Edon hosts an extensive field of pegmatites; a type of rock that can host substantial lithium, tin, tantalum, rubidium and niobium mineralisation.<\/p>\n<p>What sets Mt Edon apart from other pegmatite fields is that it is prospective for high grade rubidium, which was designated as a critical mineral by the US Government Geological Survey in 2023 due to uses in biomedical research, electronics, specialty glass, pyrotechnics and as well as military industrial applications.<\/p>\n<p>Given its range of uses, rubidium carbonate currently commands a price of ~US$1,200\/kg.<\/p>\n<p>\u00a0<\/p>\n<p>Phase 1 resource drilling holes at Mt Edon in red. Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Thick pegmatite intersections<\/strong><\/h2>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/everest-metals-corporation-emc\/\"><strong>Everest Metals Corporation (ASX:EMC)<\/strong><\/a> had previously pencilled in an initial exploration target of between 3.2Mt and 4.5Mt at 0.23% to 0.35% rubidium that highlighted Mt Edon\u2019s potential.<\/p>\n<p>The 14-hole <a href=\"https:\/\/stockhead.com.au\/resources\/everest-metals-is-looking-to-scale-the-heights-with-rubidium-resource-drilling-at-mt-edon\/\"><strong>Phase 1 program<\/strong><\/a>, which follows on previous drilling that returned very high-grade hits of up to 80m at 0.32% rubidium from a down-hole depth of 25m, was designed to deliver a maiden rubidium resource for the project.<\/p>\n<p>Each of the 14 holes intersected pegmatite bodies with highlights including 125m hit from surface, 89m from 34m depth, and 89m from 37m to end of hole.<\/p>\n<p>\u201cThe drilling intersections further confirm the geological setting of an emerging world class rubidium deposit,\u201d Everest Metals executive chairman Mark Caruso said.<\/p>\n<p>\u201cEMC concurrently will continue to advance the project to JORC resource status, whilst actively progressing processing product development through R&amp;D with ECU\u2019s (Edith Cowan University) Mineral Resource and Recovery Centre.<\/p>\n<p>\u201cEMC has also initiated consulting arrangements with international industry marketing and business development advisers to assist in the commercialisation of the project.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Next steps<\/strong><\/h2>\n<p>Assay results from the drill program are expected in early July 2024.<\/p>\n<p>EMC had previously flagged that it will start Phase 2 resource drilling, which will be designed to enable calculation of a higher confidence indicated resource for mine planning, in Q3 2024.<\/p>\n<p>Research is also underway at ECU\u2019s Mineral Recovery Research Centre to develop a state-of-the-art extraction technique that maximises the recovery of rubidium and mica in a sustainable and environmentally friendly manner.<\/p>\n<p>\u00a0<\/p>\n<p>Phase 1 resource drilling at Mt Edon (hold-MD48). Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/everest-metals-on-track-for-significant-rubidium-resource\/\">Everest Metals on track for significant rubidium resource<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Everest Metals resource drilling intersects multiple pegmatites, expands existing target area Drilling designed to enable definition of maiden rubidium resource at Mt Edon Assays expected <a href=\"https:\/\/economicherald.net\/?p=10185\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10186,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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