121m continuous pegmatite interval at St George’s Mt Alexander Lithium Project

St George Mining Limited (ASX:SGQ) has today announced it has intersected a very wide interval of continuous pegmatite in the first drill hole to test the ‘Manta’ seismic reflector at its Mt Alexander Lithium project in Western Australia.

Highlights include:

• 121m continuous pegmatite interval in diamond drill hole MAD213 testing the Manta seismic reflector, with a total of 225m of pegmatites intersected in the hole
• The Manta seismic reflector is a prominent, large seismic reflector, occuring within a granite intrusion immediately north of the outcropping greenstone belt at Mt Alexander
• Manta is located within Exploration Licence 29/638 held 75% by St George and 25% by IGO (ASX:IGO)
• Diamond drill hole MAD213 was drilled to test the source of the reflector and intersected multiple intervals of coarsely crystalline pegmatite including:
  • a continuous 120.8m interval of pegmatite from 631.2m to 752m downhole; and
  • multiple additional pegmatite intervals of varying width from 369m to 624m downhole
• The ongoing review of the seismic data and drill core from MAD213 by consultants Rock Solid Seismic confirmed the strong reflector is associated with the pegmatites
• The reflector is modelled to continue up-dip to the south and appears to extend into, or below, the greenstone belt – a potentially favourable setting for mineralisation
• The pegmatite intervals from MAD213 are being sampled for assaying to determine if there is any anomalous mineral or geochemical composition
• Further diamond drilling of the Manta pegmatites is planned to start in April to test the potential for mineral zonation of the pegmatites, within the greenstones at shallower depths
• This follows St George recently recommencing exploration activities – with latest assays for rock chips confirming more high-grade lithium bearing pegmatities up to 2.8% Li₂O – and over 20,000m of total drilling expected to be completed through 1H 2023

Commenting on this result today, St George Mining’s Executive Chairman John Prineas said:

“This is an exciting development in our lithium exploration at Mt Alexander. The early results from MAD213 are very encouraging with a large intersection of pegmatite that may be associated with significant structural activity.

“We are looking forward to further drill testing this very large pegmatite unit.”

Today’s announcement follows St George recently announcing a number of acquisitions and strategic relationships:

• St George has recently announced three transactions which further bolster St George’s high quality portfolio of hard-rock lithium assets in Western Australia:
  • the acquisition of strategic Lithium projects covering a total of 653km² with several of those projects located along strike from high-grade lithium deposits:
    • the Split Rock project located 25km North West of the Earl Grey Lithium deposit (189mt @ 1.59% Li₂O owned by Wesfarmers and SQM),
    • the Buningonia and Buningonia North projects located in the same Lithium province as Global Lithium’s Manna Project,
    • the Ten Mile West project located east of Liontown Resources’ Buldania Deposit, and
    • the Myuna Rocks project located near Allkem’s Mt Cattlin Mine
  • the acquisition of an option to purchase the Woolgangie Project; and
  • the signing of the Mt Holland Area of Influence Agreement
• In late 2022, St George entered into strategic relationships with key global battery giants including:
  • a MOU with SVOLT, one of the world’s lagrest manufacturers of batteries for EVs and energy storage, including investment by SVOLT into SGQ, offtake agreements, and a potential joint venture on future projects
  • a MOU with Sunwoda, a globally recognised industry leader in the design and manufacture of lithium ion batteries, including investment by Sunwoda into SGQ, and potential to collaborate on future development of lithium projects
  • a MOU with Jayson, a globally significant supplier to the clean energy sector and the world’s leading producer of cathode precursor materials for lithium-ion batteries, including the potential for investment and offtake opportunties and the future acquisition and development of lithium exploration or downstream processing assets in Western Australia
• St George is well funded following a placement in November 2022 of A$7.2 million which Jayson cornerstoned to A$2 million.

Executive Chairman, John Prineas, presented last week at Ord Minett’s East Coast Mining Conference in Sydney.