St George Mining Limited (ASX: SGQ) has entered into the Mt Holland Area of Influence Agreement, a binding agreement whereby it has the right to potentially acquire an interest in the lithium and nickel rights of certain tenements covering parts of the Mt Holland region of Western Australia.
Highlights:
- St George has entered into a binding agreement pursuant to which it has rights to potentially acquire an interest in lithium and nickel rights of certain tenements within an area – “Area of Influence” – covering part of the Mt Holland lithium and nickel province
- The Area of Influence agreement is with Cacique Resource Pty Ltd, a private company which has a long history of being involved in the Mt Holland region
- Significant lithium occurrences and deposits are located within the Area of Influence including the Earl Grey lithium project owned by Covalent Lithium, a joint venture between Wesfarmers Limited and Sociedad Química y Minera de Chile S.A. (SQM)
- An interpreted 40km strike of the Forrestania nickel belt is interpreted to occur within the Area of Influence, supporting the potential for nickel sulphide mineralisation
- The agreement complements St George’s focus on building a portfolio of highly prospective lithium and nickel projects and interests within Western Australia
“We are very pleased to have concluded the binding agreement for this opportunity which relates to part of the world class Mt Holland‐Forrestania lithium and nickel province,” Executive Chairman, John Prineas, said.
“The agreement provides St George with an option to potentially acquire a foothold in this highly prospective region and to further build upon St George’s high‐quality portfolio of lithium and nickel projects in Western Australia.
“As we prepare to resume drilling at our Mt Alexander lithium project in a matter of days, we are also excited to have expanded our project pipeline into one of the most significant addresses in WA for hard‐rock lithium and nickel sulphide mineralization.”
For further information please visit: https://stgm.com.au/
