Summit Minerals discovers additional pegmatites at Equador Niobium Project

Summit Minerals Ltd (ASX:SUM) has uncovered previously unknown pegmatite outcrops across its recently acquired Equador Nb-Ta-REE Project in Brazil.

Assay highlights from the pegmatite rock chip sampling program include:

  • 9.95% niobium, 38.70% tantalum and 4090 ppm PREO (partial rare earth oxides); and
  • 21.22% niobium, 39.15% tantalum and 4120 ppm PREO.

Highly prospective environment

The addition of new pegmatite discoveries running parallel to the known pegmatites indicates a much larger prospective system than what was previously understood.

The increased knowledge base for the distribution, strike length and direction of the niobium and tantalum hosting pegmatites across the Equador Project has enabled a more detailed mapping of the interpreted pegmatite trend lines.

Additionally, pegmatites have been observed running perpendicular to the main trend along cross faults in the basement rock.

This indicates a potentially larger and stronger depositional event when the pegmatites were intruded allowing a highly prospective environment for mineral enrichment to occur.

Next steps

Further interpretation and revision of the preliminary map will be updated as more information becomes available following the LIDAR imagery survey and the completion of the drone-flown magnetic survey along with results and observations from the field exploration crew.

The abundance of the pegmatite outcropping gives the company great confidence to continue to expand the work programs across the Equador Project.

More resources and funds

Summit Chief Geologist Stuart Peterson said: “I am more than pleased with what our exploration team continues to discover at our Brazilian based Equador Project.

 “The prospectivity of the project now far exceeds my initial expectations as we uncover more and more potential across the project every day.

 “We are now in a position to confidently commit resources and funds to further develop this exciting asset.”

 

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