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Exciting Developments at Everest Metals in Q2 2023: Revere Gold Project and Mt Edon LCT Project Show Promise — ASX:EMC| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$EMC
Exciting Developments at Everest Metals in Q2 2023: Revere Gold Project and Mt Edon LCT Project Show Promise
Revere Gold Project
Everest Metals has completed the acquisition of a 51% interest in the Revere Gold Project, marking a significant milestone for the company. In addition, a diamond drilling program has been initiated to explore Volcanic Hosted Massive Sulphide ("VHMS") targets at greater depths. The company has successfully completed three deep holes, totaling 1038m, by early July 2023. Portable XRF results from the drilling indicate the presence of up to 5.7% copper and up to 4.2% zinc at various intersections.
Mt Edon LCT Project
Another notable achievement for Everest Metals is the completion of the acquisition of a 51% interest in the Mt Edon LCT Project. The project has undergone a Deep Ground Penetration Radar ("DGPR") survey covering 21-line kilometres, which has led to the identification of previously undiscovered pegmatite targets.
Stage 1 RC target drilling, spanning 440m and consisting of 11 holes, has been successfully completed. This drilling has revealed multiple
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LCT pegmatites. Rock chip sampling has confirmed the presence of high-grade rubidium up to 3.1% (Rb2O) and lithium up to 4.6% (Li2O). The potassium/rubidium ratios (K/Rb) indicate the prevalence of highly fertile fractionated pegmatites with world-class rubidium occurrences.
Other Projects and Corporate Updates
Throughout the quarter, Everest Metals has also made significant progress on other projects and corporate matters. The company has successfully completed various transactions, including Joint Venture deals in New South Wales, resulting in the issuance of 1,187,085 ASX:SLB shares valued at $250,000. Additionally, Everest Metals maintains a strong cash position of $2.16 million as of 30 June 2023.
Post-Quarter Developments
Looking ahead, Everest Metals has witnessed exciting developments beyond the second quarter. Rio Tinto Exploration has begun drilling activities at North Rover to test lithium targets. Furthermore, diamond drilling at the Revere Gold Project has identified a mineralised system in a DeGrussa style.
Cores from the drilling are currently being prepared for assay. Downhole geophysical electromagnetic surveys have been conducted to support the next drill program. Furthermore, Stage 1 RC drilling at the Mt Edon LCT Project has been completed, further confirming the presence of high-grade rubidium.
Everest Metals remains committed to strategic growth and exploration activities. With promising results from the Revere Gold Project and the Mt Edon LCT Project, the company is well-positioned to achieve continued success.
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L
Lykeshares
154d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
154d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
1y
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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