Summit (ASX:SUM) shows exceptional REE at Stallion Project

Summit Minerals have reported broad, thick and shallow rare earths up to 3,783.4 ppm TREO as part of its proof-of-concept drilling at the Stallion REE Project in Western Australia.

Adding to the prize, critical permanent magnet metals,  NdPr were revealed at 23.63%, well above the 16% industry average.

The outstanding results trump historical with new drilling outlining a priority a kilometre square zone of potential mineralisation that remains open in all directions.

Drill hole location plan with drilling intercepts and tenements.

“We are delighted to have generated such compelling numbers from much shallower

depths than those encountered in the earlier Manhattan Corporation drilling,” Summit Managing Director Jonathan King said.

“The step-out drilling produced several suitably wide intersections and total rare earth oxide (TREO) grades exceeding 1,000 ppm, with a peak value of 1.52% TREO. Other notable results include the high ratios of valuable, critical magnet metals, neodymium (Nd) and praseodymium (Pr), and dysprosium (Dy) and terbium (Tb), averaging 24.95% ((NdPr) + (DyTb)).

“The scale potential is vast with the indicated mineralisation on a 1km x 1.25km grid. It remains open in all directions, and the trend pushes into our adjacent application (E28/3241).”

SUM.AX

SUMMIT FPO [SUM]

ASX

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A Rare Market Opportunity.

Growth for rare earth materials driven from renewable energy, electronics, and other high-tech areas is projected to reach USD$9.6 billion by 2026, growing at a CAGR of 12.3%.

Next Steps for Summit

Summit will use the existing coarse reject from the recent drilling to undertake accelerated metallurgical and mineralogical programs to progress towards a geometallurgical model for Stallion.

The company will utilise the available POW-approved drilling to build further certainty and definition within the identified zone as a precursor to developing its potential maiden resource.

SUMMIT FPO

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Summit Minerals Limited engages in the acquisition, exploration, and development of battery mineral projects in Australia. The company primarily explores for uranium, gold, antimony, and pegmatite lithium deposits. It holds 100% interests in the Stallion Rare Earth Element (REE) uranium project comprising one exploration tenement that covers an area of 18 square kilometers located in south-eastern Western Australia; the Windfall Antimony project, which includes one exploration tenement that covers an area of 234 square kilometers situated in north-east New South Wales; and the Phillips River Lithium project consisting of two granted exploration tenements covering an area of 42.6 square kilometers located in Western Australia. The company also holds 100% interests in the Northern Lithium REE project comprising two granted exploration tenements covering an area of 78 square kilometers located in Western Australia; and the Bridgetown Lithium project, which includes two granted exploration tenements located north and south of Bridgetown in Western Australia. Summit Minerals Limited was incorporated in 2021 and is headquartered in Mount Hawthorn, Australia.

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