Summit (ASX:SUM) increases its antimony Windfall

Summit Minerals’ maiden field program over the Munga Creek prospect has confirmed historic antimony while significantly extending mineralisation within its Windfall Project in New South Wales.

A  geochemistry program returned antimony up to 8.56 per cent in rocks and 1.05 per cent in soils. The first-pass study highlighted significant anomalies across three areas in the Munga Creek Mine, where mineralisation remains open to the south.

In a new role as Exploration Manager and dedicating his complete expertise to the ground, Summit’s Jonathan King said the area’s first rock and soil geochemistry results since the late 1990s had confirmed antimony prospectivity beyond the historic mine.

“The tenor of the results is consistent with those delivered previously. Three distinctive multielement anomalies, which include antimony, arsenic, gold, mercury, and lead, lie within a distinctive east-west band, and are confined to adjacent hill crests,” Mr King said.

“Field checking will commence later this month to confirm the controls on the mineralisation, as the results support other possibilities in part to those adopted by the early explorers, who concentrated mainly on north-south trends,” he added.

Antimony assets

Windfall covers multiple historic antimony mines and the highest grades ever recorded in Australia, with antimony showing up to 63 per cent alongside gold as high as 6g/t.

And grades at Summit’s Moroccan antimony asset have come close to that high, with early exploration yielding high-grade rock chips up to 61.9 per cent, confirming prospectivity and providing immediate drill targets to the newly acquired Ahmed Project.

With scarce production outside of China, antimony is on the critical minerals list for its versatility in the electronics, construction, and automotive industries. It has the potential for use as an anode material, with a much higher theoretical capacity and safer reaction potential than graphite.

Forward plan

The strong multielement signals have spurred on Summit for more exploration and improved drill targeting, and the company plans reconnaissance drilling as soon as practicable after highlighting the potential for new resources to add to Windfall.

Fieldwork is ongoing in Morocco, and Summit eagerly awaits assays from a Stallion Rare Earths project, which yielded some exceptional early results.

Soil and Rock Chip Sample locations draped over imaged multielement geochemistry

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Sector: Basic Materials

Industry: Other Industrial Metals & Mining

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Summit Minerals Limited, together with its subsidiaries, engages in the acquisition, exploration, and development of battery mineral projects in Brazil, Canada, Morocco, and Australia. It explores for niobium, partial rare earth oxide, tantalum, rare earth element, uranium, antimony, and lithium pegmatite deposits. Summit Minerals Limited was incorporated in 2021 and is headquartered in Mount Hawthorn, Australia.

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