MOUNT HAWTHORN, WA, April 26, 2024 — Summit Minerals Ltd (ASX: SUM), an Australian-focused ASX-listed battery mineral exploration, is thrilled to announce a landmark discovery at its T1-T2 REE project in Southern Minas Gerais, Brazil. This discovery marks a significant advancement in the company's exploration efforts within its 100%-owned property spanning 29,267 hectares across the mineral-rich states of Minas Gerais and Paraiba.
The recent exploration activities have identified a large-scale surface Saprolite Clay System, which holds substantial potential for rare earth element (REE) deposits. This system is a key component in Ionic Absorption Clay (IAC) deposits, known for their cost-effective and environmentally sustainable extraction methods.
Discovery Highlights:
- A substantially thick, well-developed Saprolite Clay horizon has been unveiled, underscoring the potential for a large-scale REE deposit.
- This discovery supplements the previously identified Saprolite Clay systems at Aratapira and high-grade Niobium/REE results at Equador & Juazerinho.
- The strategic location near Rio das Mortes is enhanced by excellent infrastructure including roads, water access, and hydroelectric power, bolstering the project’s logistical advantages.
Next Steps: Summit is set to launch an aggressive Phase 1 exploration program, which includes further mapping, sampling, and a maiden Auger Drilling program. These steps are aimed at rapidly confirming the potential scale and economic viability of the REE deposits.
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
