St George (ASX:SGQ) shows early stage lithium at Jailbreak

St George Mining has delivered encouraging results from the maiden lithium exploration at its Mt Alexander Project in WA’s Goldfields, indicating lithium-bearing pegmatites below the surface.

RC surface intersections up to 13m thick have confirmed near-surface continuity of the pegmatite outcrop where rock chip samples have returned assays of up to 3.25% Li2O.

The Jailbreak Prospect showing pegmatites with high-grade lithium, caesium, tantalum and rubidium assays

The Company said it is a positive  start to the first phase of a major drill programme which will test six lithium-bearing outcrops.

“Exploration is in full swing at Mt Alexander, and we are delighted with the positive results being delivered by our team in the field,” Executive Chairman John Prineas said.

“Exciting news is starting to emerge from our first-ever lithium drill programme at the Jailbreak Prospect which – though still at an early stage – has already confirmed the near-surface continuity of lithium-bearing pegmatites.

“The latest assays for rock chip samples have delivered our highest-grade lithium values at Jailbreak, providing further validation of the potential for pegmatite-hosted lithium mineralisation at Mt Alexander. Significantly, the high-grade assays now extend across five pegmatites mapped across a broad area.

“The drilling programme will increase in scope next week with diamond drilling scheduled to commence alongside the ongoing RC campaign.

“With drilling of both our nickel and lithium targets at Mt Alexander, the next few weeks will be a very productive end to the year for St George and we look forward to reporting more results to shareholders as they come to hand.”

High Grade Rock Chips

• MARK238 – 3.25% Li2O, 225ppm Cs2O, 53ppm Ta2O5 and 1.24% Rb
• MARK235 – 1.89% Li2O, 180 ppm Cs2O, 86ppm Ta2O5 and 0.63% Rb
• MARK278 – 1.35% Li2O, 307pm Cs2O, 192ppm Ta2O5 and 0.77% Rb
• MARK250 – 1.24% Li2O, 96ppm Cs2O, 93ppm Ta2O5 and 0.55% Rb

Next Steps

A diamond drill rig is due at Mt Alexander in the coming days. It will initially test for deeper extensions to the mineralised pegmatites at Jailbreak and assist with the geological interpretation of the evolving lithium targets.

Several diamond holes will then be drilled to test high-priority nickel targets, including strong EM conductors and the large seismic reflector near the interpreted granite/greenstone contact south of the high-grade Cathedrals Ni-Cu-PGE deposit.

Price Action

The Company’s ASX-listed shares have risen 8.33 per cent to 7.8c in early morning trade.

Further high-grade lithium confirmed in rock chip samples – up to 3.25% Li2O – as first drilling at Jailbreak Prospect confirms lithium-bearing pegmatites trending downwards.