St George Mining Limited (ASX: SGQ) has entered into an agreement to acquire 100% ownership of seven lithium prospective projects located in Western Australia.
“This is a strategic move by St George to deliver a step-change in exploration opportunities in the world’s premier hard-rock lithium address of Western Australia,” Executive Chairman, John Prineas, said.
“Several of the projects being acquired are located in regions that have delivered very significant results for other explorers and led to the confirmation of high-grade deposits being developed or already underpinning mining operations. Exploration ground in these regions is highly sought after.
“The projects being acquired by St George are underexplored for lithium. Our focus will be on unlocking any resource potential through systematic exploration.
“The acquisitions are in line with our strategy to build and explore a high-quality portfolio of lithium assets in Tier 1 jurisdictions like Western Australia.”
The Acquisition
St George’s wholly-owned subsidiary, Lithium Star Pty Ltd, entered into an acquisition agreement with Chariot Corporation Limited and Stallion Lithium Pty Ltd to acquire a package of tenements in Western Australia.
The tenements comprise 14 exploration licences – 13 have been granted and 1 is in application – covering a total area of approximately 653sq. km. The tenements comprise seven distinct projects.
Exploration Programmes
St George is developing exploration programmes for each of the new projects. Work will vary between projects depending on their geological setting and stage of exploration.
Planned exploration activities will likely include, but not be limited to:
• Ground field mapping where amenable
• Geochem sampling through soils or auger drilling
• Airborne magnetics where historic or no previous magnetics are available
• Aircore and reverse circulation drilling for the more advanced projects, such as the Buningonia Project
For further information please visit: https://stgm.com.au/
