Summit (ASX:SUM) strike into Stallion
Summit Minerals have begun drilling it hopes will significantly expand promising rare earth mineralisation running through its Stallion Project in Western Australia.
The two-stage infill drilling of at least 21 holes and 1000 metres could potentially extend a 2.5 square kilometre rare earth zone averaging 19 metres wide and 1750 parts per million total rare earth oxide.
The initial phase returned exceptional results while spurring a 720 per cent expansion of Stallion, and this next round of results could swell the project’s scale much further, with leach results coming soon set to shine a spotlight on Stallion’s potential as a producer.
While Tesla has stated their intention to move away from the pricey acquisition of the minerals, the rare earth juggernaut continues to roll on, and the actions of world governments to secure supply speaks volumes when it comes to demands for future-facing economies and national security.
And there is more in the works for Summit, who recently made an international leap into Morocco after the return of top-grade antimony assays proved up the project’s prospectivity and provided immediate drill targets to add to its Australian stable.
Stallion is the tentpole for Summit, increasingly seeing its antimony assets as a sleeping giant as a US company moves to commercialise a calcium-antimony liquid metal battery which could shake up the battery industry.
Drill location plan and past results.
SUMMIT FPO [SUM]