Everest Metals Corporation Limited (ASX: EMC) ('EMC' or 'the Company') is pleased to announce the results from its Stage-2 Reverse Circulation ('RC') drilling campaign at the Mt Edon LCT Project (M59/714) ('Mt Edon') located 5km southwest of Paynes Find, in the Mid-West region of Western Australia
COO Simon Phillips commented on the Stage-2 drilling results at Mt Edon: 'EMC's latest round of drilling results confirms the existence of a geological setting that hosts high grade, world class Rubidium intersections coincident with increasing Lithium occurrences. EMC's geological and management team will methodically continue developing its strategy to unlock a Rubidium/Lithium Resource on its ML. Planning for next stage drilling in conjunction with Mineralogical and Processing studies is now underway'.v
REVERSE CIRCULATION PROGRAMME, STAGE-2
A total of 566m was drilled as part of the Stage-2 RC drilling campaign which was completed in early August 20231. The drilling program was focused on lateral extension of high-grade zones intersected in the Stage-1 drilling program2 and undrilled targets in the northeast corner of mining tenement (M59/714) designed to follow up the results from the Deep Ground Penetration Radar ('DGPR') targets3 and structural trends identified through surface sampling and geological mapping4. The drilling was conducted across six prospects and included 12 holes with an average depth of 47m. Samples collected during the recent drilling campaign were one-metre splits with 364 samples being sent to the ALS laboratory in Perth. Samples were assayed for a standard multi-element LCT pegmatite suite including rare earth elements using the process of a 4- acid digest followed by Lithium Borate Fusion ICP-MS for detection.
During Stage-1 drilling in late May 2023, drill hole ME23-07 intersected a mixed zone of altered mafic host rock and 62m of pegmatite up to a depth of 111m and remained open. Geological logging of the chip samples highlighted well-developed muscovite-rich zones. This zone is interpreted to be a mineralised alteration zone located between the intrusive pegmatites and the mafic country rock. The zoning and grade distribution suggests that there are lepidolite pegmatite pods near ME23- 007, that was a target of the stage 2 drilling program. Hole ME23-007 intersected over 40 metres grading 0.26% Rb2O from 49m, including 19m at 0.33% Rb2O (0.43% Rb2O + Li2O), in addition to three higher grade zones of 2m @ 0.53% Rb2O + Li2O (14- 16m), 2m @ 0.53% Rb2O + Li2O (20-22m) and 2m @ 0.53% Rb2O + Li2O (30-32m). The entire mineralised intersection within ME23-007 indicates the highly fractionated and fertility of the pegmatite in the northeast corner of Mt Edon. The pegmatite body in this hole remained open at a depth of 111m (dip 60 degree) and shows there is high potential for lateral extensions particularly toward the northeast. Based on the abovementioned interpretation; initially, Stage-2 drilling was designed to unlock the potential of a 600m pegmatite sitting along a northeast-southwest strike. This zone is interpreted to be a mineralised alteration zone located between the intrusive pegmatites and the mafic country rock. 10 x RC holes were drilled along this trend and all intercepted significant rubidium-lithium results. Some of the thickest and highest grade intersections are outlined below:
Hole ME23-015 (N30E/60) was drilled perpendicular to drill hole ME23-07(N118/60E) and successfully hit higher grade rubidium-lithium (0.51% Rb2O and 0.94%Li2O) which was expected based on visual mineralisation mica rich zones from the chip tray5. Furthermore, two RC holes were drilled over pegmatite outcrops with a northwest-southeast trend located at the southern fault zone - These holes were designed to test the depth of the pegmatites, with mineralisation being intercepted in both holes from surface: Hole ME23-012 intersected 3 metres grading 0.23% Rb2O and 0.1% Li2O from surface Hole ME23-013 intersected 5 metres grading 0.16% Rb2O and 0.1% Li2O from surface The Stage-2 drilling program returned lithium-rubidium grades with a total of 14 intersections with grades in excess of 1.05% lithium-rubidium (Rb2O + Li2O) of varying widths, containing the high potassium values (K2O), of up to 10%, with significant caesium (up to 535 ppm). The Potassium / Rubidium (K/Rb) ratio in the entire pegmatite intersected in the holes reflects the degree of substitution of Rb for K in the mica's crystal structure. The alteration zone indicates a high Rb/Li ratio and is interpreted to have a component of rubidium mica. Also, the highest rubidium grades were in mica rich pegmatites. Significant anomalous LCT elements that occur in association with rubidium with a maximum value 0.51% Rb2O, include maximum values in individual drilling assayLi2O at 0.94%, Cs at 535 ppm, Nb at 247ppm, Ta at 278ppm and Sn at 155 ppm. Additionally, findings from both the Stage-1 and Stage-2 drilling programs suggest that Mt Edon has the potential to be classified as a Rubidium-Lithium project6. It seems that the high value of rubidium grades is primarily associated with well-developed white mica zones. The Company is currently conducting mineralogical investigations using Electron Probe MicroAnalyzer (EPMA), and Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LA-ICP-MS) techniques. This research aims to provide a more comprehensive understanding of the mineral composition of the high-grade rubidium and to characterise the mineral assemblage within the LCT pegmatites at Mt Edon. The Company now aims to focus mineralogical and geo-metallurgical studies to understand the nature of the resource as well as review various mineral processing technologies to enrich rubidium and lithium recoveries from the Mt Edon pegmatites.
MT EDON LCT PROJECT BACKGROUND
Mt Edon Pegmatite 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.
The Board of Everest Metals Corporation Limited authorised the release of this announcement to the ASX. For further information please contact: Simon Phillips Chief Operating Officer Phone: +61 (08) 9468 9855 Email: enquiries@everestmetals.au
Competent Person Statement
The information in this Announcement related to the exploration results is based on information compiled and approved for release by Mr Bahman Rashidi, who is a member of the Australian Institute of Mining and Metallurgy (AusIMM) and the Australasian Institute of Geoscientists (AIG). Mr Rashidi is chief geologist and a full-time employee of the Company. He has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activity, he is undertaking to qualify as a Competent Person in accordance with the JORC Code (2012). The information from Mr Rashidi was prepared under the JORC Code (2012). Mr Rashidi consents to the inclusion in this ASX release in the form and context in which it appears
About Everest Metals Corporation
Everest Metals Corporation Ltd (EMC) is an ASX listed Western Australian resource company focused on discoveries of Gold, Silver, Base Metals and Critical Minerals in Tier-1 jurisdictions. The Company has high quality Precious Metal, Battery Metal, Critical Mineral Projects in Australia and the experienced management team with strong track record of success are dedicated to the mineral discoveries and advancement of these company's highly rated projects. REVERE GOLD PROJECT: is located in a proven prolific gold producing region of Western Australia along an inferred extension of the Andy Well Greenstone Shear System with known gold occurrences and strong Coper/Gold potential at depth. (JV - EMC at 51% earning up to 90%) MT EDON PROJECT: is located in the Southern portion of the Paynes Find Greenstone Belt - area known to host swarms of Pegmatites and highly prospective for Critical Metals. The project sits on granted Mining Lease. (JV - EMC at 51% earning up to 100%) NINGHAN PROJECT: sits in Ninghan Fold Belt mafic and ultramafic greenstone with the tenement package covering an area of 228 km2, and is prospective for gold, silver, copper, nickel and cobalt. ROVER PROJECT: is located in a Base Metals and Gold rich area of Western Australia' Goldfields, associated with Archean Greenstone belts. Joint Venture agreement exists with Rio Tinto Exploration for Lithium exploration. MT DIMER GOLD PROJECT: is located around 125km north-east of Southern Cross, the Mt Dimer Gold & Silver Project comprises a mining lease, with historic production and known mineralisation, and adjacent exploration license. YARBU GOLD PROJECT: is located on the Marda-Diemals Greenstone belt, adjacent to Ramelius Resource's (ASX:RMS) Marda Gold Project, highly prospective areas for Archean Gold deposits, with three exploration licenses covering approximately 223km2. NSW BROKEN HILL PROJECTS: is Joint Venture with Stelar Metals (ASX:SLB) and three projects - Midas, Perseus and Trident Projects are located in the Curnamona Province which hosts the world-class Broken hill silver-lead-zinc mine in New South Wales. GEORGINA & AMADEUS PROJECTS: The Company's Project area in Northern Territory comprises six granted tenements and nine in application status covering 3,443 blocks in the southwest Georgina Basin and north Amadeus Basin and are prospective for Lithium pegmatites and sediment-hosted Copper-Lead-Zinc and Rare Earth Elements
RAMELIUS RESOURCES LIMITED 
