Summit Minerals Limited (ASX: SUM) has confirmed resource potential with the first batch of drilling results for four of the 14 RC holes drilled in Phase 2 at the company’s Stallion REE Project in Western Australia.
The Phase 2 drill programme included 14 holes for 820m, with the best results including 14m at 938 ppm total rare earth oxide (TREO) from 23 m in STRC026, and 5.0m at 1355.2 ppm TREO from 39m in STRC 0281 (utilising a 500ppm TREO cut-off), with these results mirroring those returned in earlier Phase 1 drilling, particularly at the margins of the mineralised zone.
Exploration Manager, Jonathan King, said the results have successfully validated the TREO drill results returned in earlier programs and expanded the target area with the mineralisation remaining open to the south.
He said the results confirm that the mineralised zone trends northwest onto the company’s adjacent tenement. Phase 3 drilling will aim to grow the mineralised zone by expanding onto the adjoining tenement.
We are very pleased with these initial Phase 2 results, and should the assays be similar to those from Phase 1, the balance of the anticipated drilling results will infill the intersected significant and widespread REE-enriched zones delineated in the Phase 1 programme,” Mr King said.
“Based on the pending results, the company aims to report a Maiden Resource Estimate for Stallion.”
In March 2023, Summit reported standout drill results from Phase 1 drilling at Stallion, with the best intercepts including:
- STRC014: 23m @ 2,162.45 ppm TREO from 24m
- STRC012: 15m @ 3,088.84 ppm TREO from 39m
- STRC011: 17m @ 3,783.4 ppm TREO from 61m inc. 1m @ 1.52% TREO from 73m
The Phase 2 drilling has successfully expanded on the mineralisation intersected during Phase 1 drilling at Stallion.
