Summit Minerals Limited (ASX: SUM) has applied for an exploration licence that envelops the existing Stallion Rare Earths prospect in Western Australia.
The new application captures the extent of the “hot” granites, interpreted as the source rocks for the observed rare-earth enrichment, and grows the project from 19.86 sq. k2 to 162.19 sq. km, a change of 142.33 sq. km.
The company has acquired a significant archive of historical exploration data, including drilling results, to assist with exploration upon the title being granted.
“Given the fresh interpretation of the rare-earth potential at Stallion, which we presented in our previous announcement, it made sense to expand our land holding in this prospective region,” Managing Director Jonathan King said.
“The new application captures the outcropping extents of the same rare-earth enriched granite that underlies the mineralised Stallion palaeochannel. The company sees the proof-of-concept drilling at Stallion, scheduled for early next month, as an opportunity to validate its views and continue to advance its exploration program at the project when the application is granted.”
Key Highlights
• Summit Minerals has applied for a large exploration licence which envelops the Stallion REE Project, east of Kalgoorlie
• Summit’s land holding in the project will increase by ~720% with an additional 142.33 sq km of land staked, expanding the total project area to 162.19 sq. km
• The new application captures the full extents of two confining “hot granites” located adjacent to a rare-earth-enriched palaeochannel with grades up to 2,666ppm pREO (Partial Rare Earth Oxides), which only includes assay results for four of 17 REEs; cerium, lanthanum, scandium, and yttrium.
• Drill targets at the project have been identified and have been submitted for approval.
• Drilling of the palaeochannel and weathered “hot” granite for Rare Earths is scheduled to commence in October 2022.
For further information please visit: https://summitminerals.com.au/
