Summit (ASX:SUM) re-steps on Stallion’s ‘Hot Rocks’
December 12, 2022Summit Minerals has resumed highly anticipated drilling of intersected rare earth elements s at its 100%-owned Stallion Project, east of Kalgoorlie.
The rain-delayed RC exploration intends to confirm the previously drilled intersections featuring CeO2+La2O3+Sc2O3+Y2O3 enrichment.
Partial REO grades returned from basement samples in Manhattan’s drilling (if assayed).
The Company said the campaign would establish the tenor of total rare earth oxide (TREO) by analysing samples for the full complement of REE in a plan to confine “hot granites” adjacent to a paleochannel as a potential shallow source for the indicated REE mineralisation.
“We are very pleased to be drilling at Stallion, where the essential ingredients for IAD REE mineralisation are present, including an REE-enriched granite and a deeply weathered clay-rich regolith,” Managing Director Jonathan King said.
“Validation of the historical REE results, complemented by the analysis of the additional 13 oxides, will define the project’s prospectivity and scale and should provide the Company with early momentum moving into the New Year.
“We look forward to updating shareholders with the results as they are received in early 2023.”
Price Action
The Company’s ASX-listed shares are 17c at Market Open.
About the Drilling Campaign
The target is regolith-hosted REO mineralisation, potentially associated with an ion-adsorption deposit (IAD) resulting from weathering rare-earth-rich host rocks and forming clays.
The REEs are weakly adsorbed onto the clay minerals. Essentially, the IAD model is derived from the weathering of REE-enriched granite, like that found at Stallion.
Historically, Manhattan Corporation (MHC) drilled 78 drill holes for 6,552 metres at Stallion pre-2011. MHC, during exploration for uranium, intersected anomalous REE mineralisation in a weathered granite underlying a deep channel (Figure 2). The returned assays show grades up to 2,666ppm (0.26%) in only four of the 17 rare earth elements. The remaining 13 rare earth elements, including the high-demand HREEs, were not assayed.
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