SUM 2.17% 22.5¢ summit minerals limited

Ann: Trading Halt, page-168

  1. 8,893 Posts.
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    I hope everyone here who holds has a good look at, and works out their own percentages from the above information from @naaman someone who is bullish on this stock but doesn't seem to know what the quote he presented shows...

    I'll repeat "About 1kg of concentrate per cubic metre is recovered from weathered rock that may contain as much as 68% cassiterite, 15% tantalite- columbite, 10% microlite..... "

    The 'concentrate' is 1kg out of around 1500kg in a cubic metre of rock/dirt/sediments, so the 'grade' overall is down to 0.06% (1/1500!!) before you work out the content of the concentrate.
    In tantalite the percentage of Ta2O5 is around 86% and in Columbite the percentage of Nb2O5 is around 78%.

    Firstly .066% is 660ppm, so the tantalite-columbite percentage is 15% of this or around 100ppm, all before working out the percent of Ta or Nb..

    If you only collect the tantalite and columbite out of the 'rock chips' you collect, and throw away everything else, including the tourmaline, you can get a high grade result from what you sent in to the labs...

    Less than 100 ppm will not be mineable, but with enriched veins spread out, artisanal miners can make a living by picking the eyes out of what is exposed and shallow, because the colour difference makes it easy and tourmaline that is mostly worthless is easy to separate out..

    If you are a holder here, without any mining or geology experience, please, please do a lot of research on pegmatites or even go and visit some close by to your area to see how small the veins that will have a small percentage of valuable minerals in them, (not filled!!) for yourself..

    Having said the above, if the drilling were to show 2,000-3,000 ppm ta and Nb over a large area, then it might be mineable. However it wont be known until assay results from drilling at a minimum.
    From the current collection of samples is showing is very, very dodgy to say the least and people should be very careful. Initial samples carefully collected to show that mineralisation exists is fine, but all work after that should be about providing a representative samples, not panned or selected..
    All the collection of selected high grade stuff now, before drilling is just a waste of shareholder funds, it's not proving up anything, only the rotary lie detector can do that (drill bit!!).
    Last edited by ozblue: 10/07/24
 
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