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Summit Minerals Limited (ASX:SUM) - SIGNIFICANT ADVANCEMENTS AT SUMMIT'S BRAZILIAN NIOBIUM AND CRITICAL MINERALS PROJECT

Summit Minerals Limited (ASX:SUM)

Key Highlights:

• Equador Niobium-Tantalum Project:

  • All documentation submitted for Stage 1 drilling permits.
  • Completion of bulk sampling, with samples now in Perth laboratory for detailed analysis.
  • Environmental studies underway across all three Equador Project tenements.
  • Appointment of Independent Metallurgical Operations (IMO) for targeted metallurgical testing on niobium and tantalum samples.
  • Strong high-grade results from the Quadrangle tenement at Equador North, including up to 40.08% Nb₂O₅ and 11.33% Ta₂O₅.
  • Drone-based aero-magnetic survey scheduled to map pegmatites and provide geological insights.

• Barra Lithium Project:

  • Acquisition of four strategically located tenements adjacent to an operating lithium mine.
  • Maiden Reverse Circulation (RC) drilling program scheduled for late November, testing lithium pegmatite potential over 2,500m.
  • Commencement of initial exploration on lithium-bearing pegmatite zones.
  • Drone-based aero-magnetic survey completed, with results expected soon to aid mapping and project planning.
  • Active discussions with neighboring lithium mines for potential collaborative development.

Summit’s Managing Director, Gower He, commented:

“While we eagerly await the results from the bulks samples from the Equador Project, we are excited exploring the Barra Lithium Project which is in line with Summit’s strategy to expand its presence in the growing critical minerals sector including lithium. 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 wellpositioned to unlock significant value from this Project.” 

Summit Minerals Limited (ASX:SUM) ("Summit" or "the Company") is pleased to report significant advancements across its flagship projects in Brazil. The Company has reached several pivotal milestones in both the Equador Niobium-Tantalum Project and the recently acquired Barra Lithium Project, reinforcing its commitment to delivering critical minerals for global markets.

Equador Niobium-Tantalum Project: A Strong Trajectory of Growth

Summit’s Equador Project continues to show significant promise, with all documentation for Stage 1 drilling submitted. Following the completion of the bulk sampling program in September, the Company has appointed Perth-based Independent Metallurgical Operations (IMO) to conduct detailed metallurgical testing on 10 key samples. IMO’s extensive experience in rare earth processing is expected to accelerate Summit’s understanding of the resource, aiming to develop an efficient extraction and separation process.

Encouraging assay results from the Quadrangle tenement further expand the project’s mineral potential, with notable high grades observed across multiple samples, such as:

• 40.08% Nb₂O₅, 11.33% Ta₂O₅, and 15,400 ppm PREO
• 39.06% Nb₂O₅, 8.88% Ta₂O₅, and 17,370 ppm PREO
• 31.90% Nb₂O₅, 9.81% Ta₂O₅, and 16,650 ppm PREO

The Company will commence a drone-based aero-magnetic survey in November across the Equador Project, expected to reveal detailed structural insights. These results will play a crucial role in shaping further drilling and exploration strategies.

Barra Lithium Project: Promising Exploration Activities and Strategic Positioning

The Barra Lithium Project, acquired in proximity to Summit’s Juazeirinho Niobium Project, is strategically positioned in the Borborema Pegmatitic Province (BPP), renowned for its rich lithium-bearing pegmatites. Summit’s maiden RC drilling program is set to commence in late November, taking advantage of an available drill rig in the region. With up to 2,500 meters of RC drilling planned, Summit aims to assess the depth and strike of lithium mineralization.

The recently acquired tenements, which include 300580/2019, 846235/2014, 846183/2013, and 300579/2019, are located adjacent to a currently operating lithium mine. Early exploration has already highlighted the potential for lithium-bearing pegmatite extensions northeast into Summit’s tenements. A drone-based aero-magnetic survey has also been completed over the area, with findings expected shortly, adding further clarity to the geological profile and aiding in identifying potential drilling targets.

Additional steps underway at the Barra Project include:

• Planning of a detailed soil sampling program to target lithium-bearing pegmatites in areas with limited outcrop exposure.
• A proposed Light Detection and Ranging (LiDAR) survey to capture high-resolution topographic data, enhancing mapping and exploration precision.
• Ongoing discussions with neighboring lithium mining operators to explore collaborative opportunities, optimizing resource development across the region.

Summit Minerals’ strategic advancement in both the Equador Niobium-Tantalum and Barra Lithium projects underscores its commitment to fast-tracking the supply of critical minerals essential for global technological and energy advancements. The Company will continue to provide updates as these projects progress toward their next phases of exploration and analysis.

 

About us:

Summit Minerals Limited is an Australian-focused ASX-listed battery mineral exploration Company with a portfolio of projects in demand-driven commodities. It is focused on systematically exploring and developing its projects to delineate multiple JORC-compliant resources.

Contact details:

Jane Morgan

jm@janemorganmanagement.com.au