Summit expedites exploration at Brazilian critical mineral projects

All documentation has been submitted for stage 1 drilling permits for the Equador project
Preliminary metallurgical and economic studies will begin shortly at Equador
A maiden scout RC drill program is planned to begin at Barra in November

Special report: Summit has been checking off key work activities off its to do list in Brazil before the end of the year including drill planning, preliminary metallurgical and economic studies.

The September quarter was a particularly momentous one for Summit Minerals (ASX:SUM) with ongoing fieldwork in July turning up previously unknown pegmatite outcrops across the Equador niobium-tantalum project, indicating a much larger prospective system than what was previously understood.

Several milestones were reached including the best grades to date from hand sample results at its newly acquired mining lease at Equador North while the central and southern parts of the tenement package continued to deliver good grades for both niobium and tantalum.

The acquisition of six new tenements, including the Barra lithium project, increased the company’s landholding in the Paraiba and Rio Norte States to 1555ha (15.55km²), with geological similarities to the existing area.

Exploration activities across Equador and Barra

SUM has now submitted all documentation for stage 1 drilling permits at Equador and has completed the bulk sampling program with a Perth based laboratory engaged to undertake analysis.

Environment studies have kicked off across the three tenements and preliminary metallurgical and associated economic studies will begin shortly.

A drone based aero-magnetic survey will be completed over the entire asset in November in parallel with maiden scout reverse circulation drilling at the Barra lithium project.

The RC drilling program will allow the Company to test for mineralisation at depth, with up to 2500m of RC drilling expected.

Initial exploration of the Barra tenements and the surrounding area, together with a site tour of the operating lithium mine, identified a large lithium bearing pegmatite with a strike direction of a north-east/south-west orientation.

The company is testing if the pegmatites strike extension continues north-east into tenement 846183/2013.

SUM has commenced discussions with owners of neighbouring operating mines to assess collaboration opportunities.

Expanding presence in critical minerals hot spot

“While we eagerly await the results from the bulks samples from the Equador project, we are excited exploring Barra which is in line with Summit’s strategy to expand its presence in the growing critical minerals sector including lithium,” SUM managing director Gower He said.

“Our acquisition of these strategically located tenements, adjacent to active lithium mining operations, reflects our forward-looking approach to identifying high-potential assets.

“With the proximity to existing spodumene deposits and promising initial exploration results, we are well positioned to unlock significant value from this project.”

This article was developed in collaboration with Summit Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.