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.

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SUMMIT FPO [SUM]

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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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