Summit Minerals pumps up niobium prospectivity in Brazil

SUM spots new pegmatite trends at Equador niobium project
LiDAR survey will inform upcoming bulk sampling and drilling programs
Company also reported new rock chip samples have extended strike length

Special Report: Summit Minerals says Light Detection and Ranging (LiDAR) surveys have identified previously unknown pegmatite trends across the Equador niobium project in Brazil.

The company’s initial interpretation indicates that the newly acquired ‘Equador North’ tenement, an existing mining lease situated to the north of and adjoining the Equador project, is likely a continuation of the geology from the existing project.

The LIDAR imagery has also highlighted historic artisanal working locations that had not been previously identified.

“I am extremely pleased with the LiDAR results as well as the new pegmatite and garimpo discoveries our team continues to uncover as we undertake a methodical, diligent and systematic exploration approach to our Equador project,” Summit Minerals (ASX:SUM) managing director Gower He said.

“The team continues to deliver what we have outlined, and I am grateful for the excellent progress we have made in just over 3 months since the acquisition of our Equador Project.”

Bulk Sampling to kick off next month

Planning for a LIDAR survey to expand the coverage over the new Mining Lease area is underway to allow detailed mapping of the prospective pegmatite outcrops.

The company says the LIDAR imagery, plus the topography model, will provide a highly detailed base that we will leverage to finalise the upcoming bulk sampling and drilling programs, with a bulk sampling program is expected to start next month, in anticipation of a maiden drilling campaign at Equador.

In the meantime, the company is performing other exploration and mapping work in parallel.

“With LiDAR completed, the team continues to explore the property as we finalise our drilling permits and make progress towards an intensive campaign of trenching, bulk sampling and metallurgical testing,” He said.

Rock chips extend strike length

In addition, recently received rock chip samples from the southern region of the Equador tenement returned more high grade results for both niobium and tantalum, including:

13.31% Nb2O5, 9.06% Ta2O5 and 21,600 ppm PREO
18.34% Nb2O5, 49.63% Ta2O5 and 6,080 ppm PREO; and
18.94% Nb2O5, 45.12% Ta2O5 and 8,640 ppm PREO.

Rock chip samples also continue to expand the projected strike length of the project to the south, with notable results of 32.69% Nb2O5, 33.68% Ta2O5 and 9,270 ppm PREO, and 29.74% Nb2O5, 38.68% Ta2O5 and 4,090 ppm PREO.

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.