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Summit Minerals Limited ( (AU:SUM) ) has issued an announcement.
Summit Minerals has acquired 100% of the historic high-grade Keystone polymetallic project in Nevada, securing a 1,036-acre land package with significant patented holdings in a major skarn district that has historically produced silver, gold, lead, zinc, molybdenum and tungsten. The project, located near the mining hub of Winnemucca at the northern end of the Pershing Trend, hosts known silver, tungsten and gold mineralisation, with historic silver production averaging more than 1,000 g/t and reported scheelite occurrences, positioning the company to benefit from US critical metals policy amid zero domestic tungsten production. During the quarter the company also raised approximately A$1.08 million via a rights issue to fund exploration, initiated a UAV magnetic survey as the first modern exploration at Keystone since 1943 to guide drilling planned for early 2026, and flagged a rebrand to Western Ridge Resources Limited to reflect its broadened focus on precious and critical minerals.
The most recent analyst rating on (AU:SUM) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on Summit Minerals Limited stock, see the AU:SUM Stock Forecast page.
More about Summit Minerals Limited
Summit Minerals Limited is an ASX-listed resources company focused on exploring and developing precious and critical mineral projects, with a growing emphasis on silver and tungsten. The company targets tier-one, mining-friendly jurisdictions such as Nevada, aiming to build a portfolio aligned with high-demand metals essential to advanced technology and energy applications.
Average Trading Volume: 433,766
Technical Sentiment Signal: Hold
Find detailed analytics on SUM stock on TipRanks’ Stock Analysis page.