Summit (ASX:SUM) make ground at Windfall
December 2, 2022Summit Minerals has gained access to untested ground highly prospective for antimony mineralisation at its Windfall Antimony project near Kempsey in New South Wales.
Land access agreements encompass the Munga Creek camp, last operational in 1974, producing over 1100 tonnes per annum of antimony concentrates.
Early-stage exploration activities, including surface mapping and soil and rock chip sampling to define drill targets, are underway in preparation for drilling in the new year.
The Company said access to this brownfield site would support its ambitious efforts to delineate JORC resources within several historical antimony camps.
“The historic Munga Creek mining centre is spread over 1.5km north to south and 900m east to west, with large gaps up to 300m between some of the eleven artisanal mines present,” Managing Director Jonathan King said.
“These areas have not been explored for decades, leaving swathes of untested opportunities between known antimony-producing sites.
“We are excited to be on the ground and look forward to progressing these targets to drill-ready status in the first half of next year.”
Windfall Antimony Project, location with historical workings and occurrences on geology.
Price Action
The Company’s ASX-listed shares are 17.5c at Market Open.
Antimony and Big Batteries
Summit Minerals’ focus on this antimony project supports the growing awareness of the potential role antimony can play in the next generation of large-capacity stationary batteries.
The long-term prospects for the antimony market are showing continued strength in global antimony prices, driven by an apparent shortage of new supply required for grid-connected stationary batteries to supply baseload power.
About Summit Minerals
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.
The Company’s projects include the Windfall Antimony Project in the antimony-gold province of the southern New England Fold Belt region in NSW, the Stallion REE Project in Ponton River WA, the Phillips River Lithium Project in Ravensthorpe WA, the Bridgetown Lithium Project in Bridgetown WA, strategically located along strike of Talison’s Greenbushes Mine and the Northern REE / Lithium Projects in Gascoyne and Pilbara WA. Through focus, diligence and execution, the board of Summit Minerals is determined to unlock previously unrealised value in our projects.
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