Summit nabs land access to explore historic Windfall Antimony Project
Summit Minerals has executed Land Access Agreements with two parties in the southeast of the Windfall Antimony Project, in NSW.
The properties include workings from the Munga Creek camp, which was last operational in 1974, producing over 1100t of antimony concentrates.
It’s a huge step for Summit Minerals (ASX:SUM), who’s exploration ambitions are aimed at discovering brownfields antimony resources within several historical antimony camps captured by the Project, including Pinnacles and Toorooka – which have historically delivered the highest antimony grades (to 63% Sb) in Australia.
Summit’s focus on this antimony project supports the growing awareness of the potential role antimony can play in the next generation of large-capacity stationary batteries.
The company believes the long-term prospects for the antimony market are supported by continuing strength in global antimony prices, the lack of new supply and the change of use case whereby stationary batteries linked to the grid provide the reliability that solar and wind power cannot.
“We are excited about this important forward step at Windfall; a project focused on discovering the critical metal antimony, considered essential for the world’s clean energy transition,” MD Jonathan King said.
“The company will continue to develop access by inking other agreements with other stakeholders over the coming months.”
An early 70’s prospectus, which included Munga Creek Camp, described the mineralisation as including ‘both narrow zones of “very high” grade ore and wider and more laterally continuous lodes of lower but “probably” still commercial grade.”
And Summit says many of these comments remain equally relevant today due to the lack of work since this time.
The company is moving to initiate groundwork on the available properties immediately – including as geological and geophysical mapping and soil and rock geochemistry – with plans to advance discussions regarding drilling access shortly.
This article was developed in collaboration with Summit Minerals Limited, 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.