Summit (ASX:SUM) get on the ground at Castor LithiumSeptember 12, 2023
Satellite and radar analysis has generated over 100 targets for investigation and multispectral imagery yielded 228 potential pegmatite outcrops, but boots are finally on the ground for Summit Minerals‘ first field program at its Castor Lithium Project in Quebec’s end of the James Bay province.
Highly regarded lithium geological consultants Critical Discoveries Corporation will be managing the program and have begun field reconnaissance at the southern and central targets.
Delays have stricken exploration efforts across the entire James Bay province but now appears back on course across one of the world’s most exciting exploration frontiers.
“Following recent delays due to wildfires and subsequent workforce shortages in the region, we are very excited to finally get on the ground at Castor and begin our field exploration program. Over the last few months, we have been working diligently to refine our targets for this program, giving us the best chance of exploration success,” Summit Exploration Manager Jonathan King said.
Phase one of exploration will investigate the interpreted pegmatite targets with easy access to roads and power, before CDC gear up phase two with an airborne program to hit less-accessible targets.
There are no major neighbours yet in the largely untouched slice of James Bay Castor is a part of, but the orientation of dykes reflect known spodumene-bearers across the region and its host Yasinki Lake Greenstone Belt has returned some eye-opening early exploration results.
Grab samples at the neighbouring Mia project recently averaged a lofty 2.65 per cent lithium oxide, while rock chips at nearby Radis Lithium have similarly returned high-grade samples from Yasinki Lake.
Subject to an ASX-listed land rush into the province, the major mining companies are now following the juniors into James Bay after continued exploration success.
Lithium giant Albermarle quickly became Patriot Battery Metals’ largest shareholder after revealing its maiden resource, and Rio Tinto have struck multiple deals with the region’s junior explorers as the start of what many predict to be a wave of consolidation coming for lithium industry.
Please note the following valuable information before using this website.
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.