St George Mining Limited (ASX: SGQ) has completed the acquisition of seven hard-rock lithium prospective projects located in Western Australia.
The tenement package consists of 14 exploration licences – 13 granted and one in application – which comprise seven distinct projects. The new projects include: the Split Rock Project, Buningonia Project, Buningonia North Project, Myuna Rocks Project, Ten Mile West Project, Carnamah Project, and Lindville Project.
“The acquisition of these projects – through our wholly owned subsidiary, Lithium Star Pty Ltd – is in line with our strategy to build a high-quality portfolio of lithium assets in tier one jurisdictions like Western Australia,” commented John Prineas, St George Mining’s executive chairman.
“Five of the new projects are located in the southern portion of the Yilgarn Craton, an area gaining a global reputation as a ‘super province’ for lithium with three spodumene-producing mines and five others in development.”
All new projects are owned 100% by St George through its wholly owned subsidiary, Lithium Star Pty Ltd. The 14 exploration licences acquired covering a total area of 653km2, including land packages located along strike from high-grade lithium deposits and established spodumene producing lithium mines.
Exploration is planned in 2023 for all new projects with a priority focus on the following:
- the Split Rocks Project, located about 25km north-west of the Earl Grey lithium deposit, which has a resource of 189Mt @1.50% Li2O 1, owned by Covalent Lithium – a joint venture between Wesfarmers (ASX: WES) and SQM (NYSE: SQM)
- the Buningonia and Buningonia North Projects, located in the same lithium province as Global Lithium’s (ASX: GL1) Manna Project and the operating Bald Hill Mine
- the Myuna Rocks Project, near Allkem’s (ASX: AKE) operating Mt Cattlin Mine
Prineas continued, “Exploration ground in this region is highly sought after. We will aim to unlock the lithium potential of these new projects with systematic exploration, alongside ongoing drilling and exploration at our advanced Mt Alexander Project.”
For further information, please visit: www.stgm.com.au
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