{"id":9464,"date":"2024-05-10T01:55:01","date_gmt":"2024-05-10T01:55:01","guid":{"rendered":"https:\/\/economicherald.net\/?p=9464"},"modified":"2024-05-10T01:55:01","modified_gmt":"2024-05-10T01:55:01","slug":"everest-metals-is-looking-to-scale-the-heights-with-rubidium-resource-drilling-at-mt-edon","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9464","title":{"rendered":"Everest Metals is looking to scale the heights with rubidium resource drilling at Mt Edon"},"content":{"rendered":"<p>Everest starts resource definition drilling at its Mt Edon critical minerals project<br \/>\nPrevious drilling has outlined an exploration target of 3.2-4.5Mt at 0.23-0.35% rubidium<br \/>\nRubidium is used in biomedical research, electronics, specialty glass, pyrotechnics and military applications<br \/>\nCurrent rubidium price: ~ US$1,200\/kg<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Everest Metals has started drilling to define a maiden resource at its Mt Edon critical minerals project in WA\u2019s Mid-West region.<\/strong><\/p>\n<p>Mt Edon (ML59\/714) covers the southern portion of the Paynes Find greenstone belt in the southern Murchison, which hosts an extensive field of pegmatites.<\/p>\n<p>Pegmatite is a type of rock which can host substantial lithium, tin, tantalum, and niobium deposits.<\/p>\n<p>Where Mt Edon differs from other pegmatite plays is that it is prospective for rubidium, which was designated as a critical mineral by the US Government Geological Survey in 2023.<\/p>\n<p>Rubidium is often associated with caesium and lithium mineralisation and is used in biomedical research, electronics, specialty glass, pyrotechnics and as well as military industrial applications.<\/p>\n<p>It is used interchangeably or together with caesium in many uses and recently found applications in specialty glasses used in fibre optic telecommunication systems.<\/p>\n<p>Additionally, its ability to be easily ionised could also result in its use as propellant for high-tech, ultra-efficient ion engines on spacecrafts.<\/p>\n<p>Rubidium carbonate currently commands a price of ~US$1200\/kg.<\/p>\n<p>\u00a0<\/p>\n<p>The Mt Edon mining lease. Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n<p>Two phases of reverse circulation drilling were carried out by <a href=\"https:\/\/stockhead.com.au\/company\/everest-metals-corporation-emc\/\"><strong>Everest Metals Corporation (ASX:EMC)<\/strong><\/a> in late May and late August last year with the first phase returning a highlight 40m intersection grading 0.26% rubidium oxide (RB2O) from 49m.<\/p>\n<p>Phase two was designed to unlock the potential of a 600m pegmatite sitting along a northeast-southwest strike and returned assays such as 80m at 0.32% Rb2O and 0.11% Li2O from 25m, 31m at 0.21% Rb2O and 0.12% Li2O from 35m, and 15m at 0.22% Rb2O and 0.27% Li2O from 14m.<\/p>\n<p>This was enough for the company to define an initial exploration target of between 3.2Mt to 4.5Mt at 0.23% to 0.35% rubidium.<\/p>\n<p>\u00a0<\/p>\n<p>Mineralised intersections from previous RC drilling. Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Resource drilling<\/strong><\/h2>\n<p>EMC has now started resource definition drilling that seeks to convert the current exploration target into an inferred resource.<\/p>\n<p>The program of 16 holes totalling ~1400m will follow-up on the pegmatite formation which returned previous assays of up to 80m at 0.32% Rb2O.<\/p>\n<p>Most of the holes will be drilled at a 40m spacing along strike and 20m across strike while the remaining four holes will test individual pegmatites parallel to the main orebody.<\/p>\n<p>\u201cThe 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,\u201d Everest Metals CEO Mark Caruso said.<\/p>\n<p>\u201cThe 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.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Phase 1 resource drilling at Mt Edon. Pic: Everest Metals Corporation<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Upcoming activities<\/strong><\/h2>\n<p>Phase 1 drilling is expected to be followed by Phase 2 drilling in Q3 2024.<\/p>\n<p>This will total about 1,600m and will infill drill to 20m along strike to allow for the calculation of a higher confidence indicated resource, which will allow for mine planning.<\/p>\n<p>EMC also has a research agreement in place with Edith Cowan University to study the extraction of rubidium and mica from Mt Edon using the cutting-edge direct rubidium extraction process.<\/p>\n<p>This research will be carried out over the coming months at the university\u2019s Mineral Recovery Research Centre in a bid to develop a state-of-the-art extraction technique that maximise the recovery of rubidium and mica in a sustainable and environmentally friendly manner.<\/p>\n<p>As part of this study, critical assessment of the feasibility and potential enhancements of the direct rubidium extraction method will be done.<\/p>\n<p>This will allow EMC and ECU to jointly apply for the Cooperative Research Centres Projects grants to scale up the process technology.<\/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-is-looking-to-scale-the-heights-with-rubidium-resource-drilling-at-mt-edon\/\">Everest Metals is looking to scale the heights with rubidium resource drilling at Mt Edon<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Everest starts resource definition drilling at its Mt Edon critical minerals project Previous drilling has outlined an exploration target of 3.2-4.5Mt at 0.23-0.35% rubidium Rubidium <a href=\"https:\/\/economicherald.net\/?p=9464\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9465,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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