Perth, Australia – 19 August 2024 | Summit Minerals Limited (ASX: SUM) ("Summit" or "the Company") is pleased to announce that recent Light Detection and Ranging (LiDAR) surveys conducted at the Equador and Juazheirinho Niobium Projects in northeast Brazil have further enhanced the prospectivity of these assets. The surveys have identified new pegmatite trends and historic artisanal workings that could significantly impact the ongoing exploration and development of these projects.
Highlights:
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LiDAR Survey: The LiDAR surveys have been successfully completed across both the Equador and Juazheirinho Niobium Projects in the northeast of Brazil.
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Discovery of New Pegmatite Trends: Initial interpretations of the LiDAR results have identified additional pegmatite outcrops within the Equador Project area, including areas not previously identified.
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High-Grade Rock Chip Samples: Recent rock chip sampling has also yielded high-grade results, further expanding the prospectivity of the zones within the Equador Project.
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In the northwest area, notable results include:
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13.31% Nb₂O₅, 9.06% Ta₂O₅, and 21,600 ppm PREO (SUMSS050)
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18.34% Nb₂O₅, 49.63% Ta₂O₅, and 6,080 ppm PREO (SUMSS051)
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18.94% Nb2O5, 45.12% Ta2O5 and 8,640 ppm PREO (SUMSS052)
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In the south area, notable rock chip samples also include:
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32.69% Nb₂O₅, 33.68% Ta₂O₅, and 9,270 ppm PREO (SUMSS058)
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29.74% Nb₂O₅, 38.68% Ta₂O₅ and 4,090 ppm PREO (SUMSS059)
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Expanding Exploration Focus: Summit plans to extend the LiDAR coverage over the newly acquired ‘Equador North’ mining lease (Tenement 848283/1999) to map additional prospective pegmatite outcrops. This expansion will support the finalisation of trenching, bulk sampling, and metallurgical testing programs.
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Upcoming Bulk Sampling: The Company is preparing to commence a bulk sampling program next month, aimed at supporting a maiden drilling campaign.
Gower He, Managing Director of Summit Minerals, stated: “I am extremely pleased with the LiDAR results as well as the new pegmatite and garimpo discoveries our team continues to uncover as we undertake a methodical, diligent and systematic exploration approach to our Equador Project.
With LiDAR completed, the team continues to explore the property as we finalise our drilling permits and make progress towards an intensive campaign of trenching, bulk sampling and metallurgical testing.
The team continues to deliver what we have outlined, and I am grateful for the excellent progress we have made in just over 3 months since the acquisition of our Equador Project.”
Next Steps:
Summit’s exploration team is set to investigate the new targets identified by the LiDAR survey and expand the survey coverage to the newly acquired areas. Detailed mapping, sampling, and other preparatory work will be conducted in parallel with the ongoing permitting process, which will set the scene for upcoming drilling and bulk sampling campaigns.
For further information, please contact:
Gower He
Managing Director
info@summitminerals.com.au
+61 8 9426 0666
Dayna Louca
Media & Investor Relations
dayna@janemorganmanagement.com.au
+61 409 581 972
About us:
About Summit Minerals Limited:
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. Summit's projects include the niobium, REE and lithium projects in Brazil, Castor Lithium Project in the prolific James Bay District, Quebec, Canada; the Phillips River Lithium Project in Ravensthorpe WA. Through focus, diligence and execution, the board of Summit Minerals is determined to unlock previously unrealised value in our projects.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au