Summit Minerals Limited (AU:SUM) has released an update.
Summit Minerals Limited has announced the restatement of the Mineral Resource Estimate for their Stallion Uranium deposit, revealing an inferred resource of 9.5 million tonnes at 150 ppm U3O8, amounting to 3.2 million pounds of contained uranium oxide. The restated resource, compliant with JORC 2012, has been compiled by H & S Consultants Pty Ltd and reflects a slight reduction from the previous estimate after excluding areas within the Queen Victoria Springs Nature Reserve. Summit is focused on expanding the resource at Stallion, leveraging the cost-effective In Situ Recovery mining method, and aims to increase shareholder value by obtaining additional exploration tenements in the region.
For further insights into AU:SUM stock, check out TipRanks’ Stock Analysis page.
