- Everest Metals (EMC) wraps up the first stage of drilling at its Mt Edon project in Western Australia
- The stage one RC campaign confirmed the presence of high-grade rubidium deposits
- Results included 40 metres at 0.26 per cent rubidium oxide from 49 metres in one hole
- Stage two drilling is planned to commence in August 2023
- EMC is down 35.3 per cent, trading at 22 cents at 1:04 pm AEST
Everest Metals (EMC) has completed the first stage of drilling at its Mt Edon project in Western Australia.
The stage one reverse circulation campaign confirmed the presence of promising high-grade rubidium deposits.
Results from drilling included 40 metres at 0.26 per cent rubidium oxide from 49 metres in one hole.
Other hits included two metres at 0.23 per cent rubidium oxide from one metre and two metres at 0.3 per cent from four metres.
As part of the drilling, multiple LCT pegmatites up to 111 metres in depth within a 1.2-kilometre corridor were confirmed through assays.
“We are very excited with the assay results from such a small drilling campaign,” EMC Chief Operating Officer Simon Phillips said.
“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.”
The company reported that results would support ongoing drilling, beginning in August, focusing on the lateral extension of high-grade zones and undrilled targets.
Everest Metals was down 35.3 per cent, trading at 22 cents at 1:04 pm AEST.