Summit (ASX:SUM) spur on at Stallion

Summit Minerals is returning to Stallion after striking exceptional rare earth results and will soon fire up stage two drilling at its recently expanded rare earths project off the Nippon Highway in Western Australia.

A 24-hole targeted will follow up on the elevated levels of total rare earth oxides which have defined the Stallion Project, now all set to fire up on the week of 15th of May.

Results from phase one drilling:

• 23m @ 2,162.45 ppm TREO from 24m
• 15m @ 3,088.84 ppm TREO from 39m
• 17m @ 3,783.4 ppm TREO from 61m inc. 1m @ 1.52% TREO from 73m

The first round of results lapped previous exploration at the project, with headier grades, shallower depths, and prized NdPr critical permanent magnet metals showing at averages well above the industry standard.

And the scale potential is vast, with indicated mineralisation lying on a 1km by 1.25km grid remaining open in all directions and pushing towards new Summit territory.

The last results spurred the whopping 720 per cent expansion, and Summit have been champing at the bit to get to the next round of drilling.

This round is focused west of Ponton Creek, directed at infilling and extending mineralisation while confirming recent results and chasing mineralised projections into the near surface areas which would enable open-pit mining.

Drill locations and past results.

SUM.AX

SUMMIT FPO [SUM]

ASX

$0.043

$0.004

8.51%

SUMMIT FPO [SUM]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

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.

Please note the following valuable information before using this website. 

Independent Research 

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.