The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Summit Minerals (SUM) reports positive results from phase two drilling at its Stallion REE project in Western Australia
  • Initial assays confirmed resource potential and indicate significant REE-enriched zones
  • Planning is underway for further drilling in Q3 to expand mineralised zone
  • A maiden MRE for Stallion is expected upon receiving the balance of the results
  • Summit Minerals was last trading at 12 cents

Summit Minerals (SUM) has received the first batch of results from phase two drilling at its Stallion REE project in Western Australia.

The results come from four of the 14 reverse circulation holes drilled, confirming resource potential.

“We are very pleased with these initial phase two results, and should the assays be similar to those from phase one, the balance of the anticipated drilling results will infill the intersected significant and widespread REE-enriched zones delineated in the phase one program,” Summit Exploration Manager Jonathan King said.

Planning is underway for another extension and infill drilling phase to be conducted in Q3 of this year.

The results confirm that the mineralised zone trends northwest onto the company’s adjacent tenement. Phase three drilling aims to grow the mineralised zone by expanding onto the adjoining tenement.

Summit Minerals was last trading at 12 cents. 

SUM by the numbers
More From The Market Herald
The Market Herald Video

TMH Market Close: First day of December down after November rally

The ASX200 finished off the first day of December down 0.2 of a percent - with all sectors,…

ASX December IPO roundup: 6 stocks to watch

After another slow year for IPOs in 2023, the ASX is set to see a flourish…
The Market Herald Video

Calmer Co clocks 70pc e-store growth – and a 2024 Rugby partnership

Calmer Co (CCO) has reported a 70 per cent increase in e-store sales in the month…

ASX Today: Stocks to watch on Friday

Futures markets are implying the ASX200 will trade in the red today, with ASX futures down…