Everest Metals (EMC.AX) has mentioned its Mt Edon project in Australia is emerging as one of the highest grade rubidium projects in the world. The company’s technical team has outlined an exploration target of 3.2-4.5 million tonnes at an average grade of 0.23-0.35% dirubidiumoxide. At a grade of 0.30%, the 3 kilograms of rubidium per tonne of rock would have a gross rock value of in excess of US$3,000 per tonne although the metallurgy and recovery rates and payability percentages remain a question mark at this point.
Although 3.2-4.5 million tonnes of rock isn’t large, the grade is pretty good as most other rubidium projects have an average grade of around 0.1-0.15% Rb2O. Drilling is currently underway at Mt Edon and this should result in the publication of a resource estimate by the end of this year or early next year.
Disclosure: The author has no position in Everest Metals. Please read the disclaimer.
