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Finance Investment, Oil Mining Resources

Summit Minerals Limited (ASX: SUM) – Significant Saprolite Clay System Discovered at T1-T2

Summit Minerals Limited (ASX: SUM) < 1 mins read

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


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