St George Mining Acquires Strategic Lithium Projects
THE BOURSE WHISPERER: St George Mining (ASX: SGQ) has struck an agreement to acquire 100 per cent ownership of seven lithium prospective projects located in Western Australia.
St George mining entered the deal via its wholly owned subsidiary, Lithium Star with sellers Chariot Corporation Limited and Stallion Lithium to acquire a package of tenements comprising 14 exploration licences – 13 of which have been granted with one in application – covering a total area of approximately 653 square kilometres.
The tenements comprise seven distinct projects located along strike from high-grade lithium deposits and established spodumene producing lithium mines and include:
The Split Rock Project, located approx. 25 kilometres north-west of the Earl Grey lithium deposit;
The Buningonia and Buningonia North projects, located in the same lithium province as Global Lithium’s Manna project and the Bald Hill mine;
The Ten Mile West project, located east of Liontown Resources’ Buldania deposit; and
The Myuna Rocks project, located near Allkem’s operating Mt Cattlin mine.
“This is a strategic move by St George to deliver a step-change in exploration opportunities in the world’s premier hard-rock lithium address of Western Australia,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.
“Several of the projects being acquired are located in regions that have delivered very significant results for other explorers and led to the confirmation of high-grade deposits being developed or already underpinning mining operations.
“Exploration ground in these regions is highly sought after.
“The projects being acquired by St George are underexplored for lithium.
“Our focus will be on unlocking any resource potential through systematic exploration.
“The acquisitions are in line with our strategy to build and explore a high-quality portfolio of lithium assets in Tier 1 jurisdictions like Western Australia.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE