Extract: "Summit has now completed over 75% of its $7 million, 25,000 metre, resource definition drilling program on eight uranium vanadium deposits at Mount Isa. This program, planned to be completed in 2006, will provide the information and sampling data to model, calculate and report JORC compliant resource estimates for each of the eight deposits.
Summit has also defined a further fifteen uranium mineralised targets at Mount Isa (see attached plan) that will be evaluated and drill tested when rigs become available.
The iron oxide copper gold (“IOCG”) uranium vanadium copper mineralisation encountered in all of Summit’s Mount Isa uranium deposits is similar. Alta Metallurgical Consultants have been engaged to supervise testwork to optimise metal recoveries and develop a common metallurgical treatment process to recover the uranium, vanadium and copper metals present".
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)