St George Mining Limited (ASX: SGQ) has announced a big step forward in lithium targeting at its Mt Alexander Project, in Western Australia’s Goldfields.
Multiple new lithium drill targets have been identified at Mt Alexander, which is owned 100% by St George except for E29/638 (75% St George; 25% IGO), following a project-wide review of lithium prospectivity completed by ERM (formerly CSA Global). ERM is a prominent mining consultancy firm with industry leading credentials in hard-rock lithium exploration.
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 lithium prospectivity and assisted in the prioritisation of lithium targets.
High-priority targets include an area proximal to the contact of the Copperfield Granite with the Mt Alexander greenstone belt – a favourable geological setting for potential lithium mineralisation and an analogue to the significant lithium discovery by Delta Lithium (ASX: DLI) at its nearby Mt Ida Project (14.6Mt @ 1.2% Li2O), which is located less than 300m from the contact with the Copperfield Granite.
Drilling of the new lithium targets is scheduled for H2 2024.
Additionally, four gold targets coincident with lithium targets were identified from the results of the recent soil surveys to further support a geological analogue to the Mt Ida Project, where high-grade gold is associated with the lithium deposits. Exceptional assays of up to 4 g/t Au in rock chip and 180ppb in soil sampling were confirmed.
“Drilling at Mt Alexander has already confirmed the presence of high-grade lithium mineralisation – up to 1.8% Li2O – and very thick pegmatites up to 121m thick,” executive chairman John Prineas said.
“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 stand out 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.”
