MT EDON DRILLING PROGRAM IDENTIFIES MULTIPLE LCT PEGMATITES
HIGH GRADE LITHIUM UP TO 4.6% (LiO2) & RUBIDIUM UP TO 3.1% (Rb2O) FROM SURFACE ROCK SAMPLES
Highlights
- Stage 1 (440m, 11 holes) RC target drilling intersects multiple pegmatites on NE-SW strike from surface up to 111m deep within 1.2km pegmatite corridor
- Pegmatite intersections[1] include;
- ME 23 -07 62m from 49m to EOH at 111m open (plus 8m from 22m to 30m and 7m from 32m to 39m)
- ME 23 -04 14m from surface to 14m
- ME 23 -05 15m from 4m to 19m
- ME 23 -10 27m from 6m to 33m
- ME 23 -11 29m from 1m to EOH at 30m-open
- Rock Chip Sampling confirms high grade Rubidium up to 3.1% (Rb2O) and Lithium up to 4.6% (Li2O)
- Potassium/Rubidium ratios (K/Rb) support highly fertile fractionated pegmatites with world class Rubidium occurrences
- Next Stage – Planning has commenced for future drilling programme
- Drill result assays expected imminently
[1] In relation to the disclosure of visual inspection, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation (if reported) in preliminary geological logging
“These outstanding results continue to confirm and unlock our belief in the potential of a highly fractionated and highly fertile LCT pegmatite system with a world class rubidium occurrence on the Mt Edon LCT Mining Lease. Planning is underway for next stage drilling”.
Chief Operating Officer, Simon Phillips commented:
Everest Metals Corporation Limited (ASX: EMC) (“EMC” or “the Company”)is pleased to announce that Reverse Circulation (“RC”) drilling is now completed at the Mt Edon LCT Project (M59/714) located 5km southwest of Paynes Find, in the Mid-West region of Western Australia.
BACKGROUND
Mt Edon LCT Project sits on mining lease M59/704 and covers the southern portion of the Paynes Find greenstone belt in the southern Murchison which hosts an extensive pegmatite field. There are several large irregular shaped felsic pegmatites which have intruded into the Paynes Find Greenstone Belt, a northeast trending sequence of mafic, ultramafic, and sedimentary rocks, with east-west structures cutting these metasediments. Pegmatites appear to be folded sills dipping in variable directions and angles and are connected at depth representing both sill and dyke structures. These prospective pegmatites have a northeast-southwest strike of up to 350m and occur along a 1.2km interval of the LCT Pegmatite corridor. Larger pegmatitic bodies appear less influenced by the underlying structural trends and fabrics, with many of these bodies cutting both structural fabrics. The larger pegmatitic bodies are interpreted as blowouts related to structural intersections.
REVERSE CIRCULATION PROGRAMME
Reverse Circulation (RC) holes for a total of 441m of drilling was completed in late May 2023. The drilling was conducted across nine targets and included 11 holes with an average depth of 40m (Figure 1). Sampling collected during the recent drilling were one-metre core splits from RC drilling.
Figure 1: RC drilling at Mt Edon (hole MD23- 07), view to west
Pegmatite has been intersected in all drill holes except one. We are very encouraged by the intersection of several thick (up to 58m). Some of the thickest intersections based on visual inspection are outlined below:
- ME 23 -02) 15m pegmatite intercepted from 4m to 19m
- ME 23 -04) 14m pegmatite intercepted from surface to 14m
- ME 23 -05) 15m pegmatite intercepted from 4m to 19m
- ME 23 -07) 62m pegmatite intercepted from 49m to end of hole at 111m-open (plus 8m from 22m to 30m and 7m from 32m to 39m)
- ME 23 -10) 27m pegmatite intercepted from 6m to 33m
- ME 23 -11) 29m pegmatite intercepted from 1m to end of hole at 30m-open
Figure 2: Chip tray for hole MD23- 07, showing thick interval 49m to 111m, remained open at depth. Well-developed mica (muscovite) rich zones can be seen in different intervals.
Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
The drilling program confirmed Deep Ground Penetration Radar (“DGPR”) targets[1], structural trends and exploration targets for future drilling programs. Geological logging of chip samples showed moderate to strong fertile pegmatite, and a lot of well-developed muscovite-rich zones (Figure 2). 230 drill samples were sent to the ALS laboratory in Perth for premium service analysis (expedited) with assays expected by late June 2023.
ROCK CHIP SAMPLING
During mapping in March 2023 and DGPR survey in April 2023, 10 rock chip samples were taken and submitted to ALS laboratory in Perth for assay using the process of a 4- acid digest followed by Lithium Borate Fusion ICP-MS for detection and three samples for XRD mineralogy. Up to 3.1% Rubidium (Rb2O), 4.6% Lithium (Li2O) and 0.34% Caesium (Cs2O) from rock chip samples were reported. The Potassium / Rubidium (K/Rb) ratio in Table 1 reflects the degree of substitution of Rb for K in the mica’s crystal structure. A ratio of below 150 indicates a fractionated pegmatite and below 15 a highly fractionated pegmatite. All the samples except two are indicative of highly fractionated and showed high LCT-fertility pegmatites. These samples are the highest-grade surface rock chip samples reported from Mt Edon in comparison with the previous surface samples[2].
Table 1: Chemical analysis results of rock chip samples (Rb2O and Li2O calculated)
Semi-quantitative XRD mineralogy results shown lepidolite is predominant mineral for samples MD-08 and MD-09 with 92% and 81% mass respectively. The analysis aimed to provide a better understanding of the mineralogy of the system, and to characterise the mineral assemblage of LCT pegmatites at Mt Edon.
Figure 3: High grade Lithium and Rubidium samples, lepidolite mineral
Figure 4: RC drill holes and rock chip sample locations at Mt Edon mining lease
A summary of important assessment and reporting criteria used for this Exploration Results announcement is provided in Appendix 1 – JORC Table 1 in accordance with the checklist in the Australian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (The JORC Code, 2012 Edition). Criteria in each section apply to all preceding and succeeding sections.
[1] ASX: EMC announcement; Deep Ground Penetration Radar (DGPR) Geophysical Survey Successfully Identifies Previously Undiscovered Pegmatite Targets at Mt Edon Project, dated 1 May 2023
[2] ASX: EMC announcement; Mt Edon Rock chip Sampling Indicates Fertile Well Developed Rare Element Pegmatite Structure, dated 24 October 2022
