Summit Minerals Limited (ASX: SUM, “Summit” or the “Company”) is thrilled to announce the receipt of assay results for the final 10 of the 14 holes from the second phase of exploration drilling completed at the Stallion REE prospect.
Key Highlights:
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Phase 2 Results: New mineralisation intercepted using a 500ppm TREO cut-off, which includes:
- STR023: 9m at 1664.12 ppm TREO from 58m
- STRC017: 34m at 1021.8 ppm TREO from 37m
- STRC019: 31m at 1298.37 ppm TREO from 63m
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Continued Success from Phase 1: Previous results showcased:
- STRC014: 23m @ 2,162.45 ppm TREO from 24m
- STRC012: 15m @ 3,088.84 ppm TREO from 39m
- STRC011: 17m @ 3,783.4 ppm TREO from 61m, including 1m @ 1.52% TREO from 73m
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The results underline the widespread, moderately shallow, sub-horizontal nature of the rare earth mineralisation that remains open along strike and to the east.
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Summit is actively progressing with mineral identification and liberation analysis. The company is also focusing on upgrading through simple beneficiation and trialling stronger digestions.
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The company is eagerly anticipating the completion of a maiden mineral resource estimate at the Stallion Rare Earth Project. This will be finalized upon receiving the metallurgical test results and identifying the host to the rare earth minerals.
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Plans are already in motion for another extension and infill drilling phase.
The Phase 2 drill program comprised 14 holes for a total of 820 m. The results have outlined a broad area of moderately shallow, sub-horizontal rare earth mineralisation that remains open to the east, north, and south. Furthermore, the results confirm that the mineralised zone extends north onto the Company’s adjacent tenement. The upcoming Phase 3 drilling aims to expand the mineralised zone by venturing onto the adjacent tenement.
For detailed results and figures, refer to Table 1 and Appendix 1.
Summit’s Exploration Manager, Jonathan King said:
“The new results confirm the geometry of the mineralised blanket, generating confidence in our ability to establish a rare earth oxide resource at Stallion. The REO mineralisation is likely associated with an acid-soluble secondary phosphate or silicate mineral.”
“Metallurgical testing, including mineral identification and liberation analysis, upgrading by simple beneficiation and acid leaching is underway, and the Company looks forward to potentially reporting its maiden resource once this phase of work is complete.”
About us:
Summit Minerals Limited is an Australian-focused ASX-listed battery mineral exploration Company with a portfolio of projects in demand-driven commodities. It is focused on systematically exploring and developing its projects to delineate multiple JORC-compliant resources.
Contact details:
Chloe Hayes
chloe@janemorganmanagement.com.au
