In what it describes as “a big step forward”, St George Mining Ltd (ASX:SGQ) has identified multiple “compelling” new lithium drill targets at its Mt Alexander Project in Western Australia following a project-wide review of lithium prospectivity.
The review was completed by ERM, formerly CSA Global, a prominent mining consultancy firm with industry-leading credentials in hard rock lithium exploration.
Mt Alexander hosts extensive pegmatite outcrops with more than 500 pegmatites mapped at the project. Samples from many of these outcrops have recorded highly anomalous lithium values providing strong encouragement for the potential of significant lithium mineralisation.
In favourable setting
The high-priority targets identified include an area proximal to the contact of the Copperfield Granite with the Mt Alexander greenstone belt.
This is a favourable geological setting for potential lithium mineralisation and an analogue to the significant lithium discovery by Delta Lithium at its nearby 14.6 million tonnes at 1.2% lithium oxide Mt Ida Project, which is less than 300 metres from the contact with the Copperfield Granite.
The collection and analysis of the potassium to rubidium ratio (K:Rb) of feldspar crystals within numerous pegmatite outcrops at Mt Alexander has led to a breakthrough in the understanding of the project’s lithium prospectivity and has assisted in prioritising lithium targets.
In addition, four gold targets coincident with lithium targets were identified from results of the recent soil surveys, which support a geological analogue to the Mt Ida Project where high-grade gold is associated with the lithium deposits.
The results included “exceptional” assays of up to 4 g/t gold in rock chip and 180ppb in soil sampling.
“An exciting development”
St George Mining executive chairman John Prineas said: “Drilling at Mt Alexander has already confirmed the presence of high-grade lithium mineralisation – up to 1.8% lithium oxide – and very thick pegmatites up to 121 metres thick.
“The latest targeting work with external consultants at ERM has been focused on finding the most likely areas with potential for significant lithium mineralisation.
“The new gold targets are also compelling gold exploration opportunities in their own right – and made more exciting given the known correlation between lithium and gold occurrences at the neighbouring project of Delta Lithium.
“Four areas standout as priority targets across our large landholding. This is an exciting development in lithium targeting at Mt Alexander and we look forward to drilling these targets soon.”