St George Mining (ASX:SGQ) today (8 August 2023) has completed the acquisition of 7 lithium prospective projects located in Western Australia.
The $33.62 million market capitalisation company will launch exploration programs across all of its new projects in the coming weeks, subject to the receipt of required heritage approvals.
Exploration activities planned for 2023 include ground field mapping and the mapping of pegmatites, rock chip and geochem sampling through soils or auger drilling, airborne magnetics, as well as aircore and reverse circulation drilling for the more advanced projects such as Split Rock and the Buningonia.
Addressing the new-look portfolio St George Mining’s Executive Chairman John Prineas says: “The acquisition of these projects – through our wholly owned subsidiary, Lithium Star – is in line with our strategy to build a high-quality portfolio of lithium assets in Tier 1 jurisdictions like Western Australia.
“The acquisition of these projects … 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 3 spodumene-producing mines and 5 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.”
St George’s wholly owned subsidiary Lithium Star has acquired 100% of a package of lithium-prospective tenements in Western Australia pursuant to an acquisition agreement with Chariot Corporation and Stallion Lithium dated 21 March 2023.
The tenement package consists of 14 exploration licences – 13 granted and 1 in application – which comprise 7 distinct projects. The 7 new projects include Split Rock, Buningonia, Buningonia North, Myuna Rocks, Ten Mile West, Carnamah, and Lindville.
The Split Rock Project is located within the lithium-rich Mt Holland pegmatite field – some 25km north-west of the Earl Grey Deposit, which has a resource of 189Mt @ 1.5% Li2O and is one of the largest and highest-grade lithium deposits in Australia.
The Rio prospect, which is part of the Split Rock Lithium Project of Zenith Minerals (ASX:ZNC), is located about 3.5km east of St George’s new ground. St George’s project comprises four granted exploration licences covering an area of 73km-square.
The Buningonia and Buningonia North projects are located in the Eastern Goldfields within an established lithium region that hosts the Bald Hill Mine (26Mt @ 1% Li2O); the Manna deposit (32.7Mt @ 1.0% Li2O)3 of Global Lithium (ASX: GL1); the Pioneer Dome Project (11.22Mt @ 1.16% Li2O)4 of Essential Metals (ASX: ESS); the Mt Marion Mine (71.3Mt @ 1.37% Li2O)5 of Mineral Resources (ASX: MIN); and the Anna Deposit (15Mt @ 1.0% Li2O) within the Buldania Project of Liontown Resources (ASX: LTR).
The tenements are interpreted from magnetic data to host greenstone rocks with a favourable structural position at the confluence of two major fault zones.
Myuna Rocks comprises 3 exploration licences that cover 273km-square. It is located about 30km north of the Mt Cattlin mine in the Ravensthorpe region. Fortescue Metals Group (ASX:FMG) also holds a large tenement holding that abuts the western part of the new tenements. The target at the tenements is concealed pegmatites. Regional magnetics support the potential for favourable lithology and structures for pegmatites that may be analogous to those hosting Mt Cattlin.
Ten Mile West comprises one exploration licence application that covers an area of 23km-square. It is located 32km east of the Anna Deposit (15Mt @ 1.0% Li2O)7 within the Buldania Project of Liontown Resources (ASX: LTR).
The Carnamah Project is comprised in one granted exploration licence that covers an area of 110km-square. The project is located in the western margin of the Yilgarn Craton, about 500km north of Perth.
There has been no systematic mineral exploration in this area. The tenement hosts greenstone rocks with a large granite to the west of the tenement and close to a major first-order structure – a potential favourable setting for pegmatites.
The Lindville Project comprises 2 granted exploration licences covering a total area of 124km-square. The project is located in the north-west of the Yilgarn Craton. Pegmatites have been mapped at the tenement, favourably located near the granite contacts.
Write to Adam Orlando at Mining.com.au
Images: St George Mining Ltd