St George Mining Limited (ASX: SGQ) has announce a big step forward in lithium targeting at its Mt Alexander Project in Western Australia.
Multiple new lithium drill targets have been identified at Mt Alexander – 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.
John Prineas, St George Mining’s executive chairman, said, “Drilling at Mt Alexander has already confirmed the presence of high-grade lithium mineralization – up to 1.8% Li2O – and very thick pegmatites up to 121m thick. The latest targeting work with external consultants at ERM has been focused on finding the most likely areas with potential for significant lithium mineralization.”
Further, 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 prioritization 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 mineralization 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 further supporting a geological analogue to the Mt Ida Project where high-grade gold is associated with the lithium deposits. Exceptional assays of up to 4g/t Au in rock chip and 180ppb in soil sampling.
To find out more, please visit www.stgm.com.au
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