PROJECT

Arataphira REE & Niobium Project

Minas Gerais, Brazil

OVERVIEW

The Summit Arataphira REE project is located in the west of the state of Minas Gerais, approximately 50 minutes drive from the town of Araxá which is serviced via a domestic airport. The project covers a total strategic and dominant area of 29,267 ha in the mining friendly and mineral-rich state of Minas Gerais.

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PROJECT HIGHLIGHTS

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Exploration has identified a large-scale Surface Saprolite Clay System

  • Highly weathered saprolite clay is crucial in Ionic Absorption Clay deposits
  • Significant size of the system from the surface and extending to depth could support a large-scale Rare Earth Deposit.
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Spans parts of the Alto Paranaíba Igneous Province, which accounts for over 97% of global niobium production and consists of major carbonatite complexes, kimberlites, lamproites, and minor alkali-related intrusions

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Situated between CBMM’s World-Class Niobium & ultra-high-grade hard rock REE deposit and Mosaic’s Phosphate & REE deposit, which may provide sources for REE-enriched saprolite clays

Geology and First Pass Exploration Findings

A thick saprolite layer exceeding 200 m is associated with the Barreiro do Araxá carbonatite1, where deep weathering and supergene-enrichment contribute to higher P and Nb grades, is exploited by VALE's Araxá phosphate mine and CBMM's niobium mine, the world's largest Nb supplier.

Reconnaissance exploration revealed the same thick saprolite clay layers extend across Summit’s ground at Aratapira. Summit is extremely encouraged by this finding and will pursue further exploration to confirm its full potential.

1 Geology and mineralization of Nb, P, Fe and light rare earth elements of the Araxá alkaline-carbonatite complex, Minas Gerais state, Brazil

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Thick saprolite profiles at Aratapira.