Summit (ASX:SUM) starting off sampling at Phillips River Lithium
November 16, 2023Nearby Mt Cattlin and a recent high-profile lithium discovery at Ravensthorpe, Summit Minerals is beginning its initial geochemical soil surveys over the Phillips River Lithium Project with an eye towards drilling early in the new year.
The campaign is directed at defining potential pegmatite-hosted lithium mineralisation and opening up high-priority targets, covering several recently interpreted intrusive bodies.
The project lies 20 kilometres from Mt Cattlin and just two and a half away from Bulletin Resources’ fresh discovery of high grade spodumene lithium with rock chip results as high as 7.04 per cent.
Summit’s newly appointed Chief Executive Officer Gower He said the company was pleased to be beginning the program over Phillips River Lithium.
“The region is highly prospective for multiple commodities, including lithium and a suite of other critical minerals. This has been demonstrated by the recent exploration successes of Bulletin Resources and other existing resource companies in the region,” Mr He said.
The project-wide campaign is expected to begin next week and wrap up within two to three weeks, with first assays expected early in the new year as Summit plots its maiden campaign.
Feeding Mt Cattlin
Production at Mt Cattlin could be coming to an end by 2027 unless new resources are found for the 1.8mtpa processing plant, and Summit has staked its claim to find them from similar rocks to the Allkem operation.
There is also potential for rare earth and copper-gold targets in the region, and half a world away Summit is soon due to receive results from a comprehensive early exploration campaign over its Castor Lithium Project in Canada’s prolific James Bay.
Project location map and drill plan
$0.205Please 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.
