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22/05/24

15:43

Post #: 73957746
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Originally posted by Endless ↑

SUM. Has anyone read the actual anncmnt? All this kerfuffle is from panning streams and looking for trace elements. It may be OK but really at the speculative end atm and very early days. I don't see any other news?

Just saying' cos seems more than a few are betting the house on it. Just know what odds you are taking before you bet. imo

09/05/2024 "The vendor has used this approach, panning a heavy mineral concentrate from an active stream bed. The concentration is threefold via stream action (saltation and concentration), pan concentration, and low-intensity mag separation, providing an optimised sample for analysis.

A substantial enrichment in the reporting values can be expected in the appropriate geological environment, such as downstream of (topographically below) historical workings or a yet-to-be-identified mineralisation.The Company will undertake fieldwork to test and confirm the results and the projects for potential niobium, tantalum, rare earth, and lithium mineralisation. Laboratory analysis of routine exploration samples, including pan-concentrates, is required to determine whether the projects have the potential to host mineralisation.

Nothing observed causes Summit and the Competent Person to question the accuracy or reliability of the provided pan-concentrate results. Summit has not independently validated the former owner's results and is not to be regarded as reporting, adopting, or endorsing those estimates. The Company is encouraged by the geology and the results, but no quantitative or qualitative mineralisation assessment has been completed. It is possible that following further evaluation and/or exploration work the confidence in the prior reported Exploration Results may be reduced."

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Lab essays by end of next week .
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