HIGHLIGHTS
- First assay results from the
- Assay highlights including partial rare earth oxides (PREO) from surface pegmatite rock chip sample program includes:
o 40.84% Nb2O5, 15.74% Ta2O5 and 4,660 ppm PREO (SUMSS001)
o 34.45% Nb2O5, 26.73% Ta2O5 and 5,330 ppm PREO (SUMSS004)
o 22.01% Nb2O5, 34.16% Ta2O5 and 3,020 ppm PREO (SUMSS003)
o 25.67% Nb2O5, 25.92% Ta2O5 and 9,070 ppm PREO (SUMSS002)
- Multiple new potential pegmatites have been identified across the
- Previously unmapped artisanal mines have been discovered in multiple locations across the
- Additional locations across the
- Field exploration program is ongoing with widespread mapping of new pegmatite occurrences, rock chip samples continuously being collected, and previously unmapped artisanal mines being located and cleaned out for further exploration.
- A drone magnetic survey has commenced to help enable a high-resolution picture of the geological structure and better map out the potential pegmatite pathways under shallow alluvial cover.
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- Summit's Chief Geologist, Mr
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- Summit is well funded to accelerate exploration with
The ongoing exploration sampling program has discovered multiple new pegmatite and historic mining workings that now span across the
The rock chip samples were collected directly from outcropping pegmatite intrusions with the darker nodules separated out by hand and sent for assay. The Niobium, Tantalite and other REE elements are known to be hosted within these darker coloured minerals of Columbite, Tantalite, Tourmaline and Mica that reside within these types of pegmatite formations.
Separation of the host minerals from the surrounding Quartz and Feldspar in the pegmatite samples before assay, enables the Company to more accurately identify the potential end grade of the host pegmatite.
The selected samples have returned a high grade for both Niobium and Tantalum plus other elevated REE elements of note. Assays have now been sent to another lab so that a full suite analysis on the sample can be contacted, which will enable the company to ascertain and thereafter announce the TREO percentage as well as potentially other elements contained within the samples.
These first results give the company confidence to accelerate its exploration program across this project with the focus on performing more widespread sampling programs and mapping out the known pegmatite occurrences.
Additionally, the program to date has uncovered multiple new artisanal mining sites that were previously unknown to the Company. The old workings from the small-scale artisanal mining are positive signs of fertile pegmatites in the area and they have allowed the Summit ground crew to access the pegmatites at depth.
Summit's Managing Director,
We eagerly anticipate the results of further rock chip assays and look forward to keeping the market updated with the results as they are received.
Our
Ongoing Exploration Programs
The current exploration and sampling program will continue to explore the remaining unexplored areas of the
Mapping the Pegmatite occurrences across the project will continue in parallel with the sampling program to enable a greater understanding of the project's potential size.
A Drone Magnetic survey is currently underway and will enable a high-resolution picture of the geological structure to be produced, to better map out the potential pegmatite pathways under shallow alluvial cover.
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About
Summit's projects include the niobium, REE and lithium projects in
Contact:
info@summitminerals.com.au
T: +61 8 9426 0666
www.summitminerals.com.au
Media and Investor Relations
jm@janemorganmanagement.com.au
T: +61 405 555 618
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