St George (ASX:SGQ) shows early stage lithium at Jailbreak
November 4, 2022St 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.
About the Mt Alexander Project
The Mt Alexander Project is located 120km southwest of the Agnew-Wiluna Belt, which hosts numerous world-class nickel deposits. The Project comprises six granted exploration licences – E29/638, E29/548, E29/962, E29/954, E29/972 and E29/1041 – which are a contiguous package. An additional two exploration licences – E29/1093 and E29/1126 – are located southeast of the core tenement package.
The Cathedrals, Stricklands, Investigators and Radar nickel-copper-cobalt-PGE discoveries are located on E29/638, which is held in interest (in E29/638 only) until there is a decision to mine. The Jailbreak Lithium Prospect is on E29/268 and E29/962. With the exception of E29/638, all Project tenements are owned 100% by St George.
Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
