Everest Metals (ASX: EMC) has identified further expansion potential in its rubidium resource upgrade program at the Mt Edon project in Western Australia.
The company’s Phase 2 drilling has returned high-grade rubidium, while also confirming the potential for other critical minerals.
Everest plans to include results from the 2,500-metre program, which commenced in September, in a mineral resource estimate (MRE) upgrade scheduled for the first quarter of 2026.
100% Strike Rate
Reverse circulation (RC) drilling intersected pegmatites in every one of the 19 holes drilled across 1,813m, with mineralisation remaining open.
The program returned a peak assay of 0.79% rubidium oxide, with other highlights of 120m at 0.22% from surface including 26m at 0.40% from 82m, and 20m at 0.37% from 50m.
Everest also completed eight slimline RC holes totalling 502m targeting known zones and priority step-out areas to expand the resource base, along with two diamond holes totalling 192m to provide core samples for detailed metallurgical test work, geotechnical assessments, and structural data analysis.
Comprehensive geometallurgical and recovery test work is advancing, while the company expects results from the diamond and slimline stages of the program to be available in late December.
First-Producing Rubidium Project
Chief executive officer Mark Caruso said, with a mining lease in place, the company is advancing Mt Edon towards becoming Australia’s first-producing rubidium project.
Along with the positive rubidium hits, the program returned high critical mineral grades for caesium and lithium that Everest intends to further investigate.
Everest has begun preparation of a mining proposal and mine closure plan for lodgement with officials, with approvals anticipated to be received during the second half of next year.
The company recently conducted an aerial drone survey over the Mt Edon resource area, data from which will be incorporated into a 3D model to be used for layout of the proposed mining operation.
Baseline environmental study, flora, and fauna surveys are also now complete, with the company still to carry out geotechnical study and material characterisation in preparation for developing and lodging the Mining Proposal.
Ongoing CSIRO Studies
The path to mining will also feature completion of geochemical and mineralogical studies by the CSIRO.
Everest signed an agreement with Australia’s national science agency in May to utilise its Kick-Start program for geochemical and mineralogical assessment of rubidium, lithium, and caesium distribution in pegmatitic minerals at Mt Edon.
The company secured a $50,000 Kick-Start program voucher from CSIRO in a program also targeting improvements in recovery processes for the three critical minerals.
Located approximately 420 kilometres northeast of Perth, the Mt Edon project hosts an initial Inferred MRE of 3.6 million tonnes grading 0.22% rubidium oxide and 0.07% lithium oxide (at 0.10% rubidium oxide cutoff), containing approximately 7,900t of rubidium oxide.
