The mundo project seems to have one of the highest IAC grades globally - and I say IAC because they mention the weathering or lateritic layer and that the host rock is most likely bastnasite which is amendable to IAC leeching after weathering process. The same host rock for MEI basically as that Pocos complex has a hard rock REE resource within the caldera that is the host for MEI's clay REE resource.
Let's break down what a carbonatite is. It is basically a big cocktail of rocks that's had some sort of alkaline or volcanic activity and has been aged for at least 800-1b years so it's a hell of an old rock. Carbonatites often host phosphorus or phosphate, Niobium and REE and its very rare to have a fertile Carbonatite that has economic quantities of all three commodities - however this is different for Brazil as all the carbonatites there seem fertile to host economic quantities of all three commodities unlike the ones we see in Aus. WA1 is primary Niobium while LYC/MT weld is mostly REE - same with the other REE ones we have in Aus.
Now our carbonatite is within the Goais Alkaline complex - readings online suggest one major fault that hosts major carbonatites and that same fault runs all the way down past Catalão I & Catalão II owned by CMOC / Araxa and Mosaics Aratapira carbonatite. All 4 of those carbonatites host economic quantities of at all three minerals being Phosphate, Niobium and REE, in fact 2/3 of the worlds Niobium producing mines are along that same fault as Mundo.
These carbonatites have three distinct zones, and often have more than one mineral right holder within the carbonatite with more than one mining operation. The fact that Summit controls the whole carbonatite means we really do in fact have multi commodity exposure. Most of the other carbonatites along that fault are mineralised down to 500-800m meaning there is MASSIVE UPSIDE in deeper drilling.
We haven't even scratched the surface yet - plug these holes into your GIS and you can see that a very small portion of the area was drilled and seems they were targeting phosphate instead of Niobium which should be towards the centre of the structure/carbonatite.
Our 9m interval was most likely some residue from the main system in the middle meaning that we could uncover something really really significant by further drilling. Think it of as some niobium that seaped or ran away during the formation of the mega Niobium system that most likely Is in the centre. This is quite common and the fact that we encountered it is a big derisk for the project and overall signifies its prospectivity.
We are also located adjacent to a major highway that goes past CMOC which is the closest mining operation to us , only a few hours drive and may be a suitable toll treating option since they are running out of ore with a fully built plant that can process our ore. They can process both phoshours and Niobium as the flow sheet for the two are quite similar and simple. Not a lengthly complicated process.
This enchases the economics and may provide early cash flow option for Summit if Summit decides to go down this route - a viable plan may be to toll treat for early cashflow then build a plant to establish a full scale mining operation. Basically we can get cash flow during the production of the plant stage and maximise the economics.
GLTAH I certainly will be adding on any weakness , along with my other niobium/critical mineral investments.
TDLR
Drill ready project that is highly prospective located near infrastructure with confirmed high grade hits from surface - with no drilling deeper than 100m where the bulk of the Niobium/REE could be hosted since the top layer is mostly prospective for Phosphate.
Same vendor sold projects to meteoric and is a phosphate company so they may be selling their non core projects for REE/NB focused explores to partner up with.
GLTAH and DYOR
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