Summit Minerals Limited (ASX: SUM) is excited to announce that it has signed binding agreements to acquire tenement packages highly prospective for rare earth elements (REE), niobium, and lithium.Term sheets were signed with vendors RTB Geologia & Mineracao Ltda (RTB),
Sandro Arruda Silva Ltda. (SAS),
and Mineracao Paranal Ltda (MPL) to acquire legal ownership and title over certain Exploration Permits and Applications for Exploration covering an area of
29,267 hectares in Minas Gerais and Paraiba States, Brazil People are only focussing on One project and seem to have forgotten about the others:SIGNIFICANT SCALE DEEPLY WEATHERED SAPROLITE CLAY SYSTEM UNCOVERED AT T1 - T2 REE PROJECT HIGHLIGHTS
• Reconnaissance
exploration has identified a large-scale surface Saprolite Clay System at Summit’s 100%-owned T1-T2 REE project in Southern Minas Gerais, Brazil. • This discovery is in addition to the substantial Saprolite Clay system identified at Aratapira1 and the High-Grade Niobium / REE surface results at Equador & Juazerinho2 .
• Substantially thick, well-developed saprolite clay horizons are critical elements in an
Ionic Absorption Clay (IAC) deposit. • The
significant size of the identified saprolite clay system can support a
potentially large-scale Rare Earth Deposit. •
Summit, through its established local exploration team, will carry out an
aggressive Phase 1 exploration program, paving the way for a
cost-effective maiden Auger Drilling program expected shortly after.SIGNIFICANT SCALE SURFACE SAPROLITE CLAY SYSTEM UNCOVERED AT ARATAPIRA REE PROJECT HIGHLIGHTS• First-pass
exploration has identified a Large-Scale Surface Saprolite Clay System at Summit’s 100%-owned Aratapira REE project in southwest Minas Gerais, Brazil.
• The project spans parts of the Alto Paranaíba Igneous Province (APIP), which a
ccounts for over 97% of global niobium production and consists of major carbonatite complexes, kimberlites, lamproites, and minor alkali-related intrusions.
•
It lies between CBMM’s World-Class Niobium & ultra-high-grade hard rock REE deposit and Mosaic’s Phosphate & REE deposit, which may provide sources for REE-enriched saprolite clays at Aratapira.
• Highly weathered saprolite clay is
crucial in Ionic Absorption Clay (IAC) deposits.
• The
significant size of the identified saprolite clay system,
starting from the surface and extending to depth, can support a potentially large-scale Rare Earth Deposit. •
Summit, through its established local exploration team,
will carry out an aggressive Phase 1 exploration program, paving the way for a
cost-effective maiden Auger Drilling program expected shortly after.............................................................................................................................................................................
So I guess most people do not realise that SUM has ground near CBMM's Niobium Mine?
Around 8.5km from Their Niobium Mine !!!
So while we have so far only been focussing on just one project,
The others could also have just as much potential....
Then there's the Uranium....
(20min delay)