3 March 2025 – Sydney, Australia – Summit Minerals Limited (ASX:SUM) ("Summit" or the "Company") today announced a strategic site visit and the implementation of a comprehensive Program of Work ("POW") for its Brazilian projects, following the appointment of Dr. Matthew Cobb as Chief Executive Officer (effective 10 March 2025). The visit will focus on advancing the Equador Niobium and Rare Earth Elements ("REE") Project, Barra Lithium Project, and Juazerinho Niobium Project, all located in the mineral-rich Borborema Province in northeast Brazil.
Dr. Cobb and current Managing Director, Mr. Gower He, will visit the sites in early March to meet the in-country team and discuss the technical aspects of completed work. The visit will also establish a definitive work program for 2025 to enhance project development and create value for stakeholders.
Project Potential and Leadership Focus
The Equador, Barra, and Juazerinho Projects are strategically located within the Borborema Province, a well-known geological belt with rich pegmatite-hosted lithium, tantalum, niobium, REEs, beryllium, and a variety of precious gemstones and industrial minerals. The projects benefit from proximity to infrastructure, with direct access from a major national highway and immediate access to energy and water resources.
Incoming CEO Dr. Matthew Cobb stated, "I am excited to be joining Summit Minerals at such a pivotal stage. The Company’s assets, particularly the Equador, Barra, and Juazerinho Projects, are located in a highly prospective geological setting with significant exploration potential.
My focus will be on advancing these projects systematically, ensuring a disciplined and results-driven exploration strategy. I look forward to working with the team to unlock the full value of these assets and drive sustainable growth for shareholders.”
Mr. Gower He, Managing Director, commented, “While we acknowledge the delay in reporting results, this review has reinforced the importance of appointing a strong technical leader. The appointment of Dr. Matthew Cobb as CEO brings the technical expertise that will guide Summit toward a disciplined, highconfidence development strategy across all our projects in Brazil.
I highly support the addition of Dr. Cobb joining the team and the technical capability he brings to Summit. The whole board is excited by not only Equador’s potential but our other assets in the portfolio. I look forward to working with Dr. Cobb as Summit focuses on uncovering and maximising the rich-mineral resources in the Borborema Province and growing the company value for all stakeholders.”
Next Steps for the Equador Project
As part of the POW, the team will prioritise verifying sample collection processes to align with JORC Code (2012) and ASX Listing Rule 5.7. The revised sampling process aims to ensure the highest reporting standards and build a solid foundation for future analytical results. The Company expects to announce these results following the completion of the revised sampling process.
Additionally, Summit has been advised that Phase 1 drilling permits for the Equador Project are in the final stages of approval by local agencies, with updates anticipated soon.
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
Media & Investor Relations
E: [email protected]
