Resource Upgrade and Expansion Drilling at Mt Edon, WA

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Stock Everest Metals Corporation Ltd (EMC.ASX)
Release Time 10 Sep 2025, 8:23 a.m.
Price Sensitive Yes
 Resource Upgrade and Expansion Drilling at Mt Edon, WA
Key Points
  • EMC commences 2,500m RC and diamond drilling program at Mt Edon Critical Minerals Project
  • Drilling aims to enhance resource confidence and scale, positioning EMC as a leader in Australia's emerging rubidium industry
  • Drilling will also assess cesium potential of highly fractionated pegmatites
Full Summary

Everest Metals Corporation Ltd (EMC) has commenced reverse circulation (RC) and diamond drilling (DD) at its Mt Edon Critical Minerals Project in Western Australia to upgrade and expand the existing Inferred Resource of 3.6Mt at 0.22% Rb2O (rubidium). The drilling program consists of approximately 2,500 metres of step-out and infill RC drilling, aimed at upgrading the existing resources and testing potential extensions along strike. The program includes ~25 RC holes targeting known mineralisation and priority step-out zones to expand the resource base. Additionally, two Diamond Drill (DD) holes will provide core samples for detailed metallurgical test work and support geotechnical assessments for future mine planning. The drilling program is also targeting cesium mineralisation in highly fractionated pegmatites. EMC has partnerships with Edith Cowan University, CSIRO and the U.S. Defence Industrial Base Consortium (DIBC) to advance the project. The company is well-funded to complete the drilling and advance exploration at Mt Edon and across its portfolio, with a $4M placement announced in August 2025.

Guidance

EMC is well funded to complete the drilling and advance exploration at Mt Edon and across its portfolio, with a $4M placement announced in August 2025.

Outlook

EMC plans to complete the Phase-2 resource drilling by the end of 2025, with assay results expected by mid-November 2025. The company will then progress CSIRO geochemical and mineralogical studies, secure the patent for its proprietary rubidium extraction process, conduct environmental studies, deliver a resource upgrade, and complete an Engineering Scoping Study in 2026. In 2027, EMC aims to secure a grant for a pilot plant, commence pilot plant construction, and complete a Prefeasibility Study to advance the project development.