Lithium and minerals micro-cap St George Mining Ltd [ASX:SGQ] has announced it has recommenced its lithium exploration activities at Mt Alexander, the latest assays taken in 2022 now confirmed with rock chips having proven that there have been more discoveries of high grade lithium bearing pegmatites with values up to 2.8% lithium.
Field mapping and sampling has taken off over the last two weeks and will continue to progress with 2023 lithium drilling due to start up in coming weeks.
SGQ shares were falling 3.85% the afternoon on Monday, even after its boost of more than 13% in the year and more than 10% over the last month alone.
St George’s 2023 activities kick off at Mt Alexander
Today St George Mining released an announcement that was shared with fellow lithium miner IGO (ASX:IGO), who owns 25% of the 29/638 exploration licencing area shared with St George.
The announcement saw St George declare the kick-starting of its 2023 lithium exploration program at its Mt Alexander Project located in Goldfields, Western Australia.
The goal is to identify any further high-grade lithium bearing pegmatites by field mapping and sampling areas, an activity which resumed among the pegmatite outcrop around two weeks ago.
The latest assays from recent activities have been received, rock chip samples that were collected in 2022 confirmed to possess high-grade lithium mineralisation:
- MARK311: 2.8% Li2O, 154ppm Cs, 30ppm Ta2O5 and 0.84% Rb2O
- MARK317: 1.91% Li2O, 97ppm Cs, 30ppm Ta2O5 and 0.57% Rb2O
- MARK351: 1.52% Li2O, 227ppm Cs, 275ppm Ta2O5 and 1.26% Rb2O
- MARK319: 0.93% Li2O, 96ppm Cs, 335ppm Ta2O5 and 0.41% Rb2O
SGQ revealed that these were high-grade lithium results occurring within an area with high prospective value, around the 5km east-west strike, and extending to the area of lithium-bearing pegmatites that are targeted in the 2023 drilling project by drilling another 450 metres.
John Prineas, Executive Chairman of St George Mining’s commented on the lithium program:
‘We are pleased to have boots on the ground again at Mt Alexander as we kick off our big exploration programme for 2023. The extensive field mapping and sampling programme has continued to identify new pegmatite outcrop along the 15km pegmatite corridor in our project tenure.
Assays from rock chip samples collected last year have been received and confirm an extension to the area at the Jailbreak Prospect that hosts pegmatite outcrop with high-grade lithium. The rock chip assay results provide further encouragement of the exploration upside at Mt Alexander.
These host pegmatites will be priority drill targets in 2023 with drilling scheduled to start in late February. We are excited to have commenced the next chapter in our systematic exploration push at Mt Alexander.’
20,000 metres of drilling is planned in H1 2023 and further drilling is to be scheduled based on the results.
To date, SGQ has collected and submitted 123 samples for laboratory assay in 2023.
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