Summit Minerals Limited Stock Market Press Releases and Company Profile
Castor Lithium Project Update
Castor Lithium Project Update

Perth, Nov 9, 2023 AEST (ABN Newswire) - Summit Minerals Limited (googlechartASX:SUM) is pleased to provide an activity update regarding the completion of the Field reconnaissance program as well as the Light Detection and Ranging (LiDAR) and high-resolution aerial imagery survey on its Castor Lithium Project in the prolific James Bay Region of Quebec, Canada. The field program performed by Critical Discoveries (CDC) was completed earlier this month, with assay results expected by the end of the year.

Highlights

- Field reconnaissance program has been completed, over 150 samples have been collected with all assay results due by the end of the year.

- Field program confirms the presence of multiple pegmatites and also identified copper-gold sulphide-bearing host rocks

- Comprehensive LiDAR and high-resolution aerial imagery survey completed

- The survey identified additional pegmatite outcrops and provided an accurate picture of pegmatite distribution, which will aid with further targeted exploration activities

- The Castor Lithium Project hosts several mapped pegmatite occurrences over a 33km strike length of the Yasinski Lake Greenstone Belt, with known spodumene-bearing pegmatites hosted within the belt along-strike to the southwest

While the LiDAR survey was completed in late August, the bare earth ground model, source point cloud data, and colour aerial photography were only delivered in mid-October. LiDAR processing and interpretation specialists, GeoCloud Analytics, have been contracted to interpret key geological features to improve geological understanding and map potential pegmatite outcrops and dykes for further assessment.

Chief Executive Officer, Mr Gower He, states, "The conclusion of the field program and the LiDAR results have confirmed and further identified multiple outcropping pegmatites and potential pegmatite-bearing structures. Specifically, the LiDAR revealed unknown pegmatite targets for evaluation and validated those we have already identified.

Once the assays from the summer field program come back from the labs, the company will be able to map out the next development steps for the project. It will be an exciting Christmas period for all our loyal Summit shareholders."

Field reconnaissance

Experienced technical consultants, Critical Discoveries (CDC), confirmed the presence of multiple interpreted pegmatites during the Field reconnaissance program. These interpreted pegmatites were deliberately targeted, examined with rock chip samples collected for assaying. A total of one hundred and fifty-three (153) samples were collected from the program. One hundred and twenty-five (125) from pegmatites and sixteen (16) petrographic samples were collected, they have been submitted in batches during the program to Actlabs in Ontario for a comprehensive multi-element analysis. Assay results are expected to be received by the end of the year.

In addition to the presence of pegmatites, CDC also identified several copper-gold targets featuring sulphidebearing laminated quartz veins within significantly altered (basalt-ultramafic) host rock. Notably, some of these newly identified quartz veins are located near historical drilling. As a result, twelve (12) rock chip samples were collected from these zones and submitted for analysis.

LiDAR results

Highly experienced LiDAR contractor, KBM of Ontario, were engaged for the LiDAR fly over and data collection. The survey was flown with a point density of ~20 points per square metre and at an altitude facilitating high-resolution 10cm aerial photographs. These acquisition parameters have delivered Summit highly detailed ground data and imagery suited for geological interpretation and pegmatite identification.

Geocloud Analytics was contracted to undertake a detailed interpretation of the data, documenting evidence of pegmatite occurrence, historic mining and prospecting activity and mapping of observed geological structures and features. Some of the discovered historical mining activity, which was not recorded, presents new opportunities for the company.

Reprocessing and interpretation revealed details previously unknown to Summit in Castor. In additional to multiple new pegmatite discoveries, numerous trenches were observed across the project area. The trenches are approximately 30m long, 8m wide, and 1.5 to 2m deep. Identifying these features has driven the geology team to interrogate historical SIGEOM records and provide precise GPS locations for our field teams to follow up.

Potential pegmatite outcrop mapping

Potential pegmatite targets first identified via multispectral imagery analysis are further refined using highresolution aerial photography and LiDAR (Figure 3*). The potential pegmatite outcrop, first identified as a hot spot in the Sentinel-2 PCA image, is now priority ranked based on the new information. In addition, its prioritisation is further enhanced by the smooth texture and morphology in the LiDAR image. The outcrop is 86m long and 32m wide and sits 5m proud of the local terrain.

The survey revealed additional pegmatite outcrops, offering a precise insight into their distribution. This information will support focused exploration efforts, streamlining the prospecting process for greater efficiency.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/G744AF4T


About Summit Minerals Limited

Summit Minerals Ltd ASX:SUMSummit Minerals Limited (ASX:SUM) is an Australian-focused ASX-listed battery mineral exploration Company with a portfolio of projects in demand-driven commodities. It is focused on systematically exploring and developing its projects to delineate multiple JORC-compliant resources. 

Summit's projects include the niobium, REE and lithium projects in Brazil, Castor Lithium Project in the prolific James Bay District, Quebec, Canada; the Phillips River Lithium Project in Ravensthorpe WA. Through focus, diligence and execution, the board of Summit Minerals is determined to unlock previously unrealised value in our projects.

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Contact

Gower He
CEO
info@summitminerals.com.au
T: +61 8 9426 0666

Chloe Hayes
Media & Investor Relations
chloe@janemorganmanagement.com.au
T: +61 4 5861 9317



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