Summit Resources Limited (Summit) is an Australian based uranium exploration company. Summit’s main project is ‘Isa North’, which covers approximately 1,460km2 and hosts a number of uranium prospects including the Valhalla, Skal and Bikini deposits. These deposits and multiple small prospects in the Mount Isa region of northwest Queensland are the principal focus of the Company’s operations and are located 15km east and 65km north of the town of Mount Isa.
The Company’s current priority objectives are to preserve ownership of the resources currently identified (by applying to the Queensland Department of Natural Resources and Mines for Mineral Development Licences, which has been done) and to preserve the company’s cash by reducing operating expenditure to meet minimum tenement expenditure requirements. Metallurgical testwork remains work-in-progress to finalise the process flowsheet. The Company has some minor involvement in base and precious metals exploration through its Isa North Mineral Rights Agreement and Isa West Joint Venture with Aston Metals.
Paladin Energy Ltd (Paladin) owns 82.08% of the equity in Summit. For further information about Paladin go to the website at www.paladinenergy.com.au.