St George Mining executive chairman John Prineas said the Western Australian company has several promising projects in the pipeline.
“Our work in 2023 has delivered a number of important project milestones and – looking forward – laid the platform for strong growth in 2024,” he said.
“Our drilling at Mount Alexander has confirmed the presence of high-grade lithium as well as very thick pegmatites that are up to 121m thick.
“These results point to the potential for a large lithium-bearing pegmatite mineral system.”
Prineas pointed to neighbouring active lithium exploration underway at the Mount Bevan project, which is a joint venture between Hancock Prospecting and Hawthorn Resources, as well as Delta Lithium’s Mount Ida project, as proof of potential in the area.
“Our ongoing, systematic exploration is delivering new targets at Mount Alexander for what is becoming a highly anticipated 2024 drill program,” he said.
“Our strategy over the past year has also seen us build out our portfolio of highly prospective, under-explored projects in Western Australia.”
In March 2023, St George’s wholly owned subsidiary Lithium Star acquired seven WA lithium projects from Chariot Corporation.
St George also acquired the Destiny rare earths project, previously called Woolgangie, in WA earlier in 2023.
“The new Destiny project and the Lithium Star package of projects have substantially expanded the company’s pipeline of exploration opportunities,” Prineas said.
“Our high-grade rare earths discovery at Destiny, which we announced just weeks ago, was an outstanding early achievement that we will build on in 2024 with follow-up drilling and exploration.”
Following Lithium Star’s acquisitions, lithium-ion batteries world leader Amperex Technology invested $3 million in the subsidiary.
“We are excited about unlocking the potential at these unexplored and under-explored projects,” Prineas said.
“We look forward to launching the fully funded 2024 exploration push across our projects.”
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