St George Mining (ASX: SGQ) has provided an exploration update on the Myuna Rocks project, in the Ravensthorpe region of Western Australia.
New lithium targets have been identified in a +50km prospective corridor along strike from the spodumene-producing Mt Cattlin mine.
Myuna Rocks is owned 100 per cent by Lithium Star Pty Ltd, a joint venture between St George (90 per cent) and TDK unit Amperex Technology Limited (10 per cent), the world’s leading producer of lithium-ion batteries.
Exploration licences E74/789 and E74/790 have been granted, increasing the granted tenure at Myuna Rocks by a further 273 sq km to a total contiguous area of 546 sq km. The Myuna Rocks land package commences 5km north of the Mt Cattlin lithium mine tenure and extends for more than 50km to the north-west along a regional greenstone corridor.
In addition to the spodumene-producing Mt Cattlin mine owned and operated by global lithium major Arcadium Lithium (ASX: LTM), active explorers in the region include Fortescue (ASX: FMG), NickelSearch (ASX: NIS) and Woomera Mining (ASX: WML).
A project-wide aero-magnetic survey by St George has identified new targets at Myuna Rocks. In total 6,200 line kilometres were flown – the first high-resolution survey over the previously underexplored project area. Geological and geophysical features supporting the prospectivity for lithium mineralisation were interpreted from the survey data.
“We are very pleased to see exciting growth emerging at the Myuna Rocks project – both in terms of the large scale of the project tenure and the newly identified target areas which demand immediate exploration follow-up. Maiden drilling is being accelerated to Q2 2024,” executive chairman John Prineas said.
”The Myuna Rocks tenure now spans a contiguous area of 546 sq km, making it one of the largest single landholdings in the region – larger than the area of the nearby Mt Cattlin mine owned and operated by the $11 billion ASX-listed Arcadium Lithium.
“Importantly, Myuna Rocks covers more than 50km of a major structural corridor that hosts Mt Cattlin and extends north to IGO’s Forrestania nickel complex. We are fortunate to have more than 50km of this underexplored belt in our tenure.
“The results of the recent airborne magnetic survey corroborate our belief that Myuna Rocks is prospective for significant lithium mineralisation.
“The late-stage granite intrusion at Myuna Rocks is in a sheared contact with the greenstones – a textbook geological setting for lithium mineralisation. This warrants immediate exploration follow-up, with St George committed to mapping and surface sampling ahead of a maiden drill program.
“We are excited about the potential at Myuna Rocks and look forward to progressing our exploration programs in 2024.”
