- St George Mining (SGQ) kicks off fresh reverse circulation drilling at its Mt Alexander lithium project following “encouraging” results from a 2022 program
- The company plans to complete 20,000 metres of exploration drilling in the first half of 2023, with several new areas approved for lithium drilling
- SGW will test numerous pegmatites that could contain valuable minerals extending across a 15-kilometre pegmatite corridor in the project area
- The first batch of laboratory assays from the 2022 reconnaissance drilling returned
anomalous lithium values in every pegmatite tested
- SGQ shares are down 10 per cent and trading at 7.2 cents at 1:47 pm AEDT
St George Mining (SGQ) has launched a fresh reverse circulation (RC) program at its Mt Alexander lithium project, with 20,000 metres of drilling planned for the first half of 2023.
The company has received drilling approvals for several areas that have not been previously mined for lithium, though they lie directly along-strike from “significant” lithium discoveries by Red Dirt Metals (RDT) at its Mt Ida Project.
“This expanded drill programme is built on the maiden campaign we undertook in late 2022, which is now delivering the first batch of highly encouraging assays,” St George Mining Executive Chairman John Prineas said.
The first batch of laboratory assays from the 2022 reconnaissance drilling returned
anomalous lithium values in every pegmatite tested, with a number of intersections greater than one per cent lithium oxide and intervals of anomalous lithium up to 14 metres thick.
Deeper drilling of two pegmatites during the 2022 project indicated the continuity of lithium up to a 220-metre vertical depth, highlighting the potential of a pegmatite system that has yet to be fully explored.
As such, St George’s RC drilling in 2023 will test numerous pegmatites that could contain valuable minerals extending across a 15-kilometre pegmatite corridor. The company will also test down-dip continuity and the potential for the thickening of lithium pegmatites.
“This is an important exploration milestone for Mt Alexander and provides strong encouragement for the potential of systematic exploration of the extensive pegmatites at Mt Alexander to delineate significant lithium mineralisation,” Mr Prineas said.
The company said investors could expect a steady news flow over the coming months, with drilling updates and assay results to be released steadily.
The Mt Alexander project lies 120 kilometres southwest of the Agnew-Wiluna Belt, which hosts numerous world-class nickel deposits.
SGQ shares were down 10 per cent and trading at 7.2 cents at 1:47 pm AEDT.