Summit Minerals (ASX:SUM) is hoping fresh soil sampling results will uncover ‘high-priority’ targets suitable for drill testing in 2024 at its Phillips River Lithium Project in Western Australia.
The company collected 727 soil samples and 13 rock chips across the soil sampling survey area aimed to define potential pegmatite-hosted mineralisation in areas marginal to Bulletin Resources’s (ASX:BNR) Phillips South Lithium discovery.
Results are expected to be returned in Q1 2024.
Summit Chief Executive Officer (CEO) Gower He says the company expects the results to identify new targets and trends suitable for drilling in 2024.
“The program took slightly longer than expected due to rain and the extremely thick vegetation around the Phillips River Project.
We look forward to updating the market on our results, which are expected in the new year, which in turn will guide future exploration at the project.”
“We look forward to updating the market on our results, which are expected in the new year, which in turn will guide future exploration at the project”
The company notes LabWest Analytical Services will be conducting multi-element sample analysis using the Ultrafine soil technique.
Phillips River lies 2.5km southeast of Bulletin Resources’ Phillips South lithium discovery and its Ravensthorpe Lithium Project in Western Australia.
Summit Minerals is an Australia-focused battery minerals explorer with a portfolio of projects in demand-driven commodities.
As of 30 September 2023, the company had $3.011 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Summit Minerals
