Summit Minerals increases its Stallion project tenure to 361km2
Uranium endowment also grows from 3.3Mlb to 7Mlb U3O8
Paleochannel-hosted uranium mineralisation length up from 8km to 28km
Special Report: Battery metal and uranium-focused Summit Minerals has added another exploration licence to expand its Stallion uranium project tenure – increasing the total area from 196km2 to 361km2.
Summit Minerals (ASX:SUM) has today increased its groundholding in the highly prospective Ponton Creek uranium district, east of Kalgoorlie, by 84%.
It has also more than tripled the length of palaeochannel-hosted uranium mineralisation inside its tenure, from 8km to 28km.
New tenements, new prospects
Stallion’s new E28/3251 tenement captures mineralisation across the historical Highway and Shelf uranium deposits and several advanced prospects, including East Arm and Narnoo.
The drilled uranium prospects include the 3.3Mlb Stallion, 1.9Mlb Highway (where estimates have been based on 304 drill holes for 18,236m) and 1.8Mlb Shelf resources.
The Stallion project tenements. Pic: Supplied (SUM)
SUM managing director Gower He says considering recent global trends towards utilising nuclear energy as a clean source of baseload power, the company is excited to increase its uranium exposure in anticipation of potential uranium-friendly legislative changes in Western Australia.
“These acquisitions more than double our historical uranium resources as we work towards a resource restatement over the coming months,” He says.
SUM says it intends to advance resource expansion work and accelerate the exploration of high-priority regional targets, as many of those outlined are considered drill-ready, including some within the applications (on grant of title) and restatement of a minimum 7Mlb U3O8 of the historical resource.
This article was developed in collaboration with Summit Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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