Summit Minerals Ltd (ASX:SUM), an Australian-focused ASX-listed battery mineral exploration Company, is thrilled to announce a significant discovery at its wholly-owned Aratapira Rare Earth Element (REE) project located in the mineral-rich region of Minas Gerais, Brazil. Recent exploration activities have uncovered an extensive surface saprolite clay system within the Alto Paranaíba Igneous Province (APIP), an area renowned for over 97% of the world’s niobium production.
The Aratapira project, part of the Company's strategic acquisition in Brazil announced on 23 April 2023, is favorably positioned between two world-class deposits: CBMM’s Niobium and ultra-high-grade hard rock REE deposit, and Mosaic’s Phosphate & REE deposit. The proximity to these deposits suggests potential enrichment sources for the saprolite clays discovered at Aratapira.
Key findings from the first-pass exploration highlight the presence of a significant saprolite clay layer, extending from the surface to considerable depths. This discovery sets the stage for a potentially large-scale Rare Earth deposit. Summit Minerals is poised to commence an aggressive Phase 1 exploration program, which will include a cost-effective maiden Auger Drilling program anticipated to start shortly.
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