Summit Minerals Limited (ASX:SUM), a resource exploration and development company, is excited to announce the commencement of its maiden exploration program at its fully owned Ecuador and Juazerinho Niobium projects located in the renowned Borborema Pegmatitic Province in Paraiba State, Northeast Brazil. This area is celebrated for its rich deposits of Niobium, Spodumene, and high-quality gemstones.
Following detailed geological due diligence, which highlighted the presence of prospective Lithium Cesium Tantalum (LCT) pegmatites and historical informal mining activities, Summit Minerals is set to begin a systematic exploration program aimed at defining initial drill targets. The exploration strategy includes comprehensive geological mapping, channel sampling of outcrops and subcrops, and, where appropriate, trenching and pitting.
In addition to these traditional methods, the company will employ high-resolution UAV (drone) magnetic surveys. This innovative approach is expected to enhance the precision of geological mapping and geochemical sampling, thereby enabling the identification of promising drilling targets.
Initial assays have returned promising results, with high concentrations of Niobium and Rare Earth Elements (REEs) indicating the substantial economic potential of the deposits. Regular updates will be provided as the exploration progresses, keeping the market informed of key developments.
This exploration initiative not only reinforces Summit Minerals' commitment to expanding its resource base but also strengthens its position in the global minerals market, particularly in the sectors of technology and renewable energies.
About us:
Summit Minerals Limited is a resource exploration and development company with assets in Brazil, Canada, and Australia.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au