On the CXU thread. Uranium . Lots of talk about a possible WA...

On the CXU thread. Uranium . Lots of talk about a possible WA policy change toward allowing the mining of Uranium .
This would sit well for SUM

Managing Director Jonathan King said:
“Summit has been assessing the additional historical drill holes for further rare-earth opportunities while validating the developing targeting model at Stallion. In doing so, we confirmed the location of the historical uranium Mineral Resource, which extends southwards from the new application and onto the adjacent granted title. Though a great outcome for the company, given the inability to mine uranium in WA due to current government legislation, we remain focused on the rare earth opportunity present at Stallion. The uranium Mineral Resource essentially provides the company with a free option if the legislation in WA changes in the future.”

Summit Minerals’ new application (ELA 28/3241) captures the Stallion uranium Mineral Resource established by Manhattan Corporation Limited (MHC) The historical uranium Mineral Resource includes an estimated Inferred Resource of 3.3Mlb U3O8 (MHC ASX release 23/01/2017) captured within the application and adjacent granted title (E 28/2999)

STALLION REE- PROJECT (E28/2999)➢
Title covers 18km2 of the Ponton Creek palaeochannel, including Manhattan Corporation’s U3O8 Stallion Deposit

➢ Significantly enriched in REEs (>500ppm to >1% TREO)➢ Large exploration target - measures 5km x 500 to 800m➢ 79 drill holes, most with REE assaysHoleSTAC1064 STAC1104Intersection10m @ 885ppm La-Ce-Y 6m @ 1004ppm La-Ce-YDepthfrom 65m from 64mTREO Estimate>10m @ 4500-9500ppm >6m @ ~0.5%➢

IMO