• Assays from the final 10 holes from Phase 2 drilling at Stallion have returned up to 1,664ppm TREO
  • Mineralisation has been confirmed open along strike to the north and to the east
  • Infill drilling is being planned to test targets; maiden resource to follow
  • Exploration at Summit’s newly acquired Castor project in James Bay is underway

 

A completed 14-hole drilling campaign at Summit Minerals’ Stallion project east of Kalgoorlie, WA, confirms widespread rare earth mineralisation, which remains open along strike to the north.

Explorers, including Summit Minerals’ ASX(SUM) OD6 Metals (ASX:OD6), Mount Ridley (ASX:MRD) and West Cobar (ASX:WC1) are uncovering deposits with high concentrations of high-value magnet rare earths, dysprosium, terbium, neodymium and praseodymium (NdPr).

SUM’s Stallion REE project, previously drilled by Manhattan Corporation (ASX:MHC), is now showing exceptional total rare earth oxide (TREO) numbers up to 3,783 parts per million (ppm) across the expanded 162.19km2 project area.

 

Phase 2 Drilling completed

The last 10 holes of a 14-hole Phase 2 drilling campaign have returned impressive results of up to 1,664ppm at Stallion, confirming the moderately shallow sub-horizontal mineralisation that is open in three directions (north, south and east) and trends north onto the company’s adjacent tenement.

Using a 500ppm TREO cut-off, results include:

  • 9m at 1664.12 ppm TREO from 58m
  • 34m at 1021.8 ppm TREO from 37m
  • 31m at 1298.37 ppm TREO from 63m.

This is a continuation of “excellent results” from Phase 1, SUM says, which included:

  • 23m @ 2,162ppm TREO from 24m
  • 15m @ 3,088ppm TREO from 39m
  • 17m @ 3,783ppm TREO from 61m including 1m @ 1.52% TREO from 73m.
Summit Minerals (ASX:SUM)
Results from the 14-hole Phase 2 drilling program. Pic supplied: (SUM)

Summit exploration manager Jonathan King says the new results confirm the geometry of the mineralised blanket, generating confidence in its ability to establish a rare earth oxide resource at Stallion.

“The REO mineralisation is likely associated with an acid-soluble secondary phosphate or silicate mineral,” King says.

“Metallurgical testing, including mineral identification and liberation analysis, upgrading by simple beneficiation and acid leaching is underway, and the company looks forward to potentially reporting its maiden resource once this phase of work is complete.”

“It remains early days; clearly, we still have much to learn about Stallion.”

Planning is also underway for another extension and infill drilling phase.

 

Foray into James Bay

Exploration at Summit’s newly acquired Castor project in the James Bay lithium precinct is underway.

The region is home to Q2 Metals’ (TSX-V:QTWO) Mia lithium project, which has recorded 18 grab samples averaging 2.65% Li2O and up to 4.37% Li20, as well as Ophir Gold’s (TSX-V:OPHR) Radis lithium project, which hosts rock chips up to 2.33% Li20.

Summit has partnered with highly regarded lithium-focused geological consultancy Critical Discoveries Corporation (CDC), who will manage the exploration program.

A two-phase exploration program has started with ground reconnaissance to investigate the pegmatites. Then, for Phase 2, Summit will conduct airborne recon to navigate the less accessible targets.

 

 

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.

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