A world-class, high-grade rubidium zone within the maiden resource at Mt Edon has Everest Metals excited. Pic: Getty Images
Everest Metal earns place on critical minerals map with maiden Mt Edon rubidium resource
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- Everest Metals delivers rubidium resource of 3.6Mt at 0.22% rubidium and 0.07% Li2O for Mt Edon
- Resource includes a world-class, high-grade zone of 1.3Mt at 0.33% rubidium and 0.07% Li2O
- Mt Edon appears amenable for open cut mining at a low stripping ratio
Special Report: Everest Metals Corporation has cause to break out the bubbles after delivering a world-class, maiden rubidium resource with >7,900t of the rare critical mineral at its Mt Edon project in WA.
Rubidium is ranked as a critical and strategic mineral by several countries – including the US and Japan – due to its use in a wide range of military, new energy and high-tech applications such as night vision equipment, radiation detection, infrared signals, thin batteries, vapour turbines and in ion engines that could power spacecraft.
However, despite actually being more abundant than zinc or copper in the Earth’s crust, rubidium’s production currently sits between 2-4 tonnes per annum, according to the United States Geological Survey (USGS).
Actual Rubidium consumption remains a function of supply, EMC looks to position itself to participate in supplying a growing, high-tech critical mineral to the world market.
Current uses include:
- Defence and Military: Night vision imaging, special glass, radiation detectors, photoelectric tubes, radio electronic tubes and military infrared signal lights
- Aerospace: Ion propulsion engines and atomic clocks
- Communications: Ion cloud communications and fibre optic communications
- Emerging Energy Power Generation: Materials for magnetohydrodynamic power generation and thermionic power conversion
- Medical: Sedatives, tranquilisers and medications for treating epilepsy and synthetic alkaline solvents
- Special Glass: Enhancing glass conductivity, increasing lifespan and stability.
- Rubidium remains the only viable substitute for caesium as caesium continues to be very difficult to source
All this provides context for why Everest Metals Corporation (ASX:EMC) would be pleased by the maiden inferred resource of 3.6Mt grading 0.22% rubidium oxide and 0.07% lithium oxide (Li2O) with a world-class, high-grade zone of 1.3Mt at 0.33% rubidium and 0.07% Li2O at Mt Edon in WA’s Mid-West region.
Just the high-grade zone alone contains several orders of more rubidium than current global demand.
That this is located outside of China, which the USGS believes produces most of the world’s rubidium, just adds to its attractiveness.
“Our initial mineral resource estimate validates the tier-1 scale and grade of the Mt Edon deposit,” EMC executive chairman Mark Caruso said.
“This highlights only the beginning for the Mt Edon critical metals project, with high-grade rubidium mineralisation still open along strike with numerous additional targets on the mining lease to be tested.
“Rubidium is a critical mineral which plays a significant and growing role in national security, healthcare and emerging energy applications. Rubidium currently has a small global market, but this has been driven by supply constraints rather than demand.”
Mt Edon resource
The initial Mt Edon resource is based on drilling along a ~400m strike within a 1.2km long pegmatite corridor on a granted mining lease.
Mineralisation remains open along strike and at depth, which provides exploration upside and hence potential for resource growth.
An added point in its favour is the resource model showing Mt Edon geometry to be amenable to open cut mining with a low stripping ratio, which would substantially reduce mining costs.
Initial metallurgical test work has already proven that ore from the project is amenable to the use of direct rubidium extraction, which successfully achieved a maximum ~85% rubidium recovery.
Foundation for growth
Caruso noted the initial resource will serve as the foundation for a mining scoping study as its “world-class scale and grade prompt us to move rapidly to complete this study in conjunction with ongoing rubidium extraction and purification testwork”.
“We will finalise test work in Q4 CY24 to feed into the scoping study, which is due for delivery in Q1 CY25,” he added.
“Planning for the next phase of resource drilling is also underway and offtake negotiations are set to commence as we accelerate our strategy for development of Mt Edon.”
Phase 2 resource drilling is planned to start in late 2024 or early 2025.
This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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