ASX-listed mining exploration company St George Mining (ASX:SGQ) reports the presence of visual lithium-bearing pegmatites from a maiden lithium exploration reverse circulation (RC) drilling campaign at its Mt Alexander Project in Western Australia (WA).
The ‘highly encouraging’ results, generated by 10 RC holes, have confirmed visual lithium-bearing minerals from multiple intervals of pegmatites and have confirmed the near-surface continuity of the pegmatite outcrop.
In addition, rock chip sampling activities have returned further ‘high-grade’ lithium (Li2O) grades of up to 3.25% Li2O, which represent the highest-grades of lithium returned to date, and were taken from across 5 pegmatite dykes within a north-south zone extending up to 1.7km.
These samples confirm the prospectivity and expanding footprint of the lithium-bearing pegmatites at the project’s Jailbreak prospect, with key results including, 3.25% Li20, 225ppm caesium oxide (Cs2O), 53ppm tantalum pentoxide (Ta2O5) and 1.24% rubidium (Rb) (MARK238).
Assays are still pending for more than 100 rock chip samples taken from pegmatite outcrops across 15km of a pegmatite corridor parallel to the Copperfield Granite.
The current RC drilling represents the first phase of a major drilling program designed to test 6 outcropping lithium-bearing pegmatite dykes at the Jailbreak prospect.
Speaking on the results, St George Mining’s Executive Chairman, John Prineas said: “Exploration is in full swing at Mt Alexander and we are delighted with the positive results being delivered by our team in the field.
Exciting news is starting to emerge from our first-ever lithium drill program at the Jailbreak prospect which – though still at an early stage – has already confirmed the near-surface continuity of lithium-bearing pegmatites.
“The latest assays for rock chip samples have delivered our highest-grade lithium values at Jailbreak, providing further validation of the potential for pegmatite-hosted lithium mineralisation at Mt Alexander”
The latest assays for rock chip samples have delivered our highest-grade lithium values at Jailbreak, providing further validation of the potential for pegmatite-hosted lithium mineralisation at Mt Alexander. ‘Significantly’, the ‘high-grade’ assays now extend across five pegmatites mapped across a broad area.
The drilling program will increase in scope next week with diamond drilling scheduled to commence alongside the ongoing RC campaign.
With drilling of both our nickel and lithium targets at Mt Alexander, the next few weeks will be a very productive end to the year for St George and we look forward to reporting more results to shareholders as they come to hand.”
St George Mining also notes that the latest rock chip samples have ‘significantly’ expanded the area with pegmatite outcrop that has been confirmed as lithium-bearing.
The ‘significant’ width and extent of this area of outcropping pegmatites indicates the potential for a ‘large’ lithium mineral system with multiple deposits to exist at the prospect.
It is also reported that with the interpretation of the geology of the Jailbreak prospect rapidly evolving, current RC drilling will focus on the two identified target areas.
These two drilling targets comprise the 1.7km section of a north-south trending ultramafic sequence hosting stacked pegmatite dykes and more than 3km of an east-west structural corridor that extends eastwards to the Copperfield Granite source rocks.
As of 10:50am (AEST) the company’s share price has increased by 5.56%.
The Mt Alexander project is located about 120km south-southwest of WA’s Angew-Wiluna belt, which is host to numerous world class nickel (Ni) deposits. The project comprises five granted exploration licences, with St George Mining owning 100% interest in 4 of the licences, the 5th licence represents a joint-venture (JV) with Australian owned public listed company Western Areas (ASX:WSA) in which Western Areas hold 25% non-contributing interest.
With current RC drilling still ongoing, St George Mining announces a diamond drill rig is expected to arrive at the Mt Alexander project in the coming days with a goal of testing for deeper extensions to the mineralised pegmatites at the Jailbreak prospect.
Diamond drilling (DD) will then test ‘high-priority’ nickel (Ni) targets, including strong electromagnetic (EM) conductors and the ‘large’ seismic reflector situated near the interpreted granite/greenstone contact south of the ‘high-grade’ Cathedrals Ni-Copper (Cu)-PGE deposit.
Images: St George Mining Ltd
