SUM (ASX) Ann: Quarterly Activity and Cashflow Report

Originally posted by $$$$$$$$ ↑

SUM $4.8M MC
Cash $3.4M

Stallion Rare Earths

Drill testing of the rare earth mineralisation intersected in previous drilling campaigns by Manhattan Corporation Limited (MHC) was completed late in the quarter
after delays due to unseasonal rains restricting access.

The program seeks to confirm the previously identified rare earth mineralisation,
extend the mineralisation into near-surface environments, and
provide material for metallurgical study.
Summit collected 177 weathered bedrock samples from fourteen drill holes for 741m.

Windfall Antimony Project

In October, Summit received Land Access approval for critical parts of the historical Munga Creek Group at the Windfall Antimony Project (Figure 1).
Additional access was granted in December.
The Munga Creek Mine was last mined in 1974, producing 1,100t of antimony (Sb),
and the area is known to have produced the highest antimony grades ever recovered in Australia at 63% Sb.

Gascoyne Lithium and Rare Earth Element Projects

Summit’s technical team completed fieldwork at Li-REE projects, Lyndon and Morrisey, in the Gascoyne region of WA

Morrissey Project The Morrisey Project lies adjacent to the Malinda Lithium Project
(owned by Red Dirt Metals),
where previous drilling by Segue Resources Limited intersected grades up to 2.01% Li

The pegmatite at Morrissey is related to the tourmalinebearing granites of the Thirty-Three Supersuite, which also hosts numerous lithium-bearing pegmatites in the immediate environment around the tenement.

Their distribution, with higher TREO values in the south and lithium values in the north, supports the anticipated zonation pattern for this mineralisation style.

Phillips River Project

The late unseasonal rains in southern Western Australia delayed the start of harvesting at Phillips River until the New Year. The Company will commence field activities at this prospective lithium project shortly after the 2022 crop is harvested.

The Summit portfolio
comprises five prospective mineral exploration projects focused on the energy and critical mineral space:

The Phillips River and Bridgetown Projects have prospective lithium targets along strike and close to the World-class Mt Cattlin and Greenbushes lithium operations in southern WA.
The Phillips River project also lies on the same geology as the adjoining Bulletin Resources’ (ASX: BNR) Phillips South lithium discovery.

The Northern Projects comprise three lithium and REE projects in the Gascoyne and Pilbara Districts of WA. One tenement (Morrissey, E09/2482) is adjacent to Red Dirt’s (ASX: RDT) developing Malinda lithium project and hosts a significant, GSWA-confirmed, REE-bearing pegmatite.

A second tenement (E45/6087) lies between the Pilgangoora (ASX: PLS) $14.98 Billion
and Wodgina (ASX: MIN) $17.56 Billion MC
lithium operations and exhibits very similar geology.

The third project (E09/2435) lies in the central Gascoyne’s emerging REE province with REE carbonatite and lithium pegmatite potential.

The Stallion Project, located on the eastern margins of the Yilgarn Craton, shows significant REE-enrichment in the weathered granitic country rock.

The Windfall Antimony Project includes multiple historic antimony mines such as Munga Creek.
Each historical mine hosts a walk-up drill target.

Expand

Just thought I would show people that I have been posting on SUM for a long time,
Am a Long Term Holder,
And have been posting a lot longer than what some people realise.

Anyhow still long term on this,
Who else got Loyalty options back in the Day?

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(20min delay)
Last 24.0¢		Change 0.005(2.13%)		Mkt cap ! $19.69M

Open	High	Low	Value	Volume
24.5¢	24.5¢	23.5¢	$82.44K	346.2K

Ann: Quarterly Activity and Cashflow Report, page-63

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Ann: Quarterly Activity and Cashflow Report, page-63

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