The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Summit Minerals (SUM) reports positive results from phase two drilling at its Stallion REE project in Western Australia
  • Initial assays confirmed resource potential and indicate significant REE-enriched zones
  • Planning is underway for further drilling in Q3 to expand mineralised zone
  • A maiden MRE for Stallion is expected upon receiving the balance of the results
  • Summit Minerals was last trading at 12 cents

Summit Minerals (SUM) has received the first batch of results from phase two drilling at its Stallion REE project in Western Australia.

The results come from four of the 14 reverse circulation holes drilled, confirming resource potential.

“We are very pleased with these initial phase two results, and should the assays be similar to those from phase one, the balance of the anticipated drilling results will infill the intersected significant and widespread REE-enriched zones delineated in the phase one program,” Summit Exploration Manager Jonathan King said.

Planning is underway for another extension and infill drilling phase to be conducted in Q3 of this year.

The results confirm that the mineralised zone trends northwest onto the company’s adjacent tenement. Phase three drilling aims to grow the mineralised zone by expanding onto the adjoining tenement.

Summit Minerals was last trading at 12 cents. 

SUM by the numbers
More From The Market Online
The Market Online Video

Market Close: ASX glass gets a top up as BHP stars on the bourse

The ASX200 closed up just under half a per cent as Materials led the rally more…

Battery Age aims to build geological knowledge at Ontario lithium play

Battery Age Minerals hopes to build on the exploration at Canadian lithium play, Falcon Lake -…
The Market Online Video

Market Update: Unemployment on an even keel as ASX gains marginal ground

Australia's unemployment has edged up to 3.8%, according to ABS data, marking a 0.1% increase with…
Pig Iron Production

Magnum pushes Saudi pig iron project further down the road to Nevada

Magnum Mining & Exploration has solidified plans to produce green pig iron in Saudi Arabia from…