St George Mining Ltd (ASX:SGQ) has completed the acquisition of seven hard-rock lithium projects, adding to its high-quality portfolio of assets in the world’s premier hard-rock lithium address of Western Australia.
The new tenements comprise 14 exploration licences covering a total area of 653 square kilometres, including land packages along strike from high-grade lithium deposits and established spodumene-producing lithium mines.
All new projects are wholly owned by St George through its subsidiary, Lithium Star Pty Ltd.
Moving forward, St George will launch exploration programs at all of the new projects in the coming weeks, subject to the receipt of required heritage approvals.
“High-quality portfolio”
St George Mining’s executive chairman John Prineas said: “The acquisition of these projects – through our wholly owned subsidiary, Lithium Star Pty Ltd – is in line with our strategy to build a high-quality portfolio of lithium assets in Tier-1 jurisdictions like Western Australia.
“Five of the new projects are located in the southern portion of the Yilgarn Craton, an area gaining a global reputation as a ‘super province’ for lithium with three spodumene-producing mines and five others in development.
“Exploration ground in this region is highly sought after. We will aim to unlock the lithium potential of these new projects with systematic exploration, alongside ongoing drilling and exploration at our advanced Mt Alexander Project.”
Exploration program
The tenement package consists of 14 exploration licences – 13 granted and one in application – which comprise seven distinct projects - Split Rock, Buningonia, Buningonia North, Myuna Rocks, Ten Mile West, Carnamah and Lindville.
Exploration is planned in 2023 for all new projects with a priority focus on the following:
- Split Rocks Project - Situated within the lithium-rich Mt Holland pegmatite field, having a resource of 189 million tonnes at 1.5% Li2O, and is one of the largest and highest-grade lithium deposits in Australia.
- Buningonia and Buningonia North projects - Situated in the same lithium province as Global Lithium’s Manna Project and the operating Bald Hill Mine.
- Myuna Rocks Project - Situated near Allkem’s operating Mt Cattlin Mine.
Map showing the location of the new projects acquired by St George as well as the existing Mt Alexander and Woolgangie projects.
Forward plan
St George will kick off exploration programs at all of the new projects in the coming weeks, including:
- ground field mapping including the mapping of pegmatites;
- pegmatite rock chip sampling and geochemical sampling through soils or auger drilling;
- airborne magnetics where historic or no previous magnetics are available; and
- aircore and reverse circulation drilling for the more advanced projects, such as Split Rock and Buningonia.
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