New lithium targets identified in a +50km prospective corridor along strike from the spodumene-producing Mt Cattlin Mine at Ravensthorpe, WA
13th March 2024: St George Mining Limited (ASX:SGQ) is pleased to provide an update on exploration at the Myuna Rocks Project in the Ravensthorpe region of Western Australia. Myuna Rocks is owned 100% by Lithium Star Pty Ltd, a joint venture between St George (90%) and Amperex Technology Limited (10%), the world’s leading producer of lithium-ion batteries.
The highlights of the announcement are:
Myuna Rocks tenure doubles in scale:
· Exploration Licences E74/789 and E74/790 have been granted, increasing the granted tenure at Myuna Rocks by a further 273 sq km to a total contiguous area of 546 sq km
· Myuna Rocks land package commences 5km north of the Mt Cattlin Lithium Mine tenure and extends for more than 50km to the north-west along a regional greenstone corridor
· In addition to the spodumene-producing Mt Cattlin mine of global lithium major Arcadium Lithium (ASX: LTM), active explorers in the region include Fortescue (ASX: FMG), NickelSearch (ASX: NIS) and Woomera Mining (ASX: WML)
Aero-magnetic survey identifies new targets:
· New aero-magnetic survey completed with 6,200 line km flown – the first high-resolution survey over the previously underexplored project area
· Geological and geophysical features supporting prospectivity for lithium mineralisation are interpreted from the survey data including:
o A late-stage granite intrusion – covering an area 18km x 8km – within the project tenure that could be a source of potential lithium mineralisation
o Extensive greenstone sequences interpreted adjacent to the granite, creating a contact with the granite that is a priority exploration area for lithium
o Regional-scale north-west trending domain boundaries, similar to those known to act as a control on lithium and gold mineralisation in the Yilgarn Craton
Mt Cattlin mine, located south of Myuna Rocks (Source: Allkem website)
John Prineas, St George Mining’s Executive Chairman, said:
“We are very pleased to see exciting growth emerging at the Myuna Rocks Project – both in terms of the large scale of the project tenure and the newly identified target areas which demand immediate exploration follow-up. Maiden drilling is being accelerated to Q2 2024.
“The Myuna Rocks tenure now spans a contiguous area of 546 sq km, making it one of the largest single landholdings in the region – larger than the area of the nearby Mt Cattlin mine owned and operated by the $11 billion ASX-listed Arcadium Lithium.
“Importantly, Myuna Rocks covers more than 50km of a major structural corridor that hosts Mt Cattlin and extends north to IGO’s Forrestania nickel complex. We are fortunate to have more than 50km of this underexplored belt in our tenure.
“The results of the recent airborne magnetic survey corroborate our belief that Myuna Rocks is prospective for significant lithium mineralisation.
“The late-stage granite intrusion at Myuna Rocks is in a sheared contact with the greenstones – a textbook geological setting for lithium mineralisation. This warrants immediate exploration follow-up, with St George committed to mapping and surface sampling ahead of a maiden drill programme.
“We are excited about the potential at Myuna Rocks and look forward to progressing our exploration programmes in 2024.”