Exploration update on Equador Nb-Ta-REE Project

Summit Minerals Limited (ASX: $SUM) has reported further high-grade Niobium and Tantalum assay results from the Equador Nb-Ta-REE Project in Brazil. The project, located in northeast Brazil's Borborema Pegmatitic Province, has shown promising results, with the company extending the pegmatite strike zone to approximately 3.0km in length. The ongoing exploration program has identified multiple new pegmatite outcrop targets, indicating the potential for significant mineralization.

Executive commentary on project progress

Summit's Managing Director, Gower He, expressed enthusiasm about the project's progress, stating, 'Our Equador Project continues to deliver beyond our initial expectations. With the consistent high-grade assay results project wide, the Company will be heavily focused on this Project to fast-track its development.' Chief Geologist, Stuart Peterson, also commented, 'The exploration team has plenty of targets still to sample, and we will update the market as these results come through.'

Project outlook and future plans

The high-grade Niobium and Tantalum assay results from the Equador Project have further solidified its prospectivity. With the extension of the pegmatite strike zone and the identification of multiple new pegmatite outcrop targets, Summit Minerals is optimistic about the project's potential. The company plans to continue its exploration program, focusing on the priority target of the Eastern Pegmatites and conducting additional mapping of pegmatite occurrences across the project. Furthermore, the company aims to perform Magnetic and LIDAR programs to identify additional pegmatite occurrences and looks forward to keeping the market informed regarding its exploration results as they become available.