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St George Mining Limited – discovering a major prize within a new lithium Province.

15 November 2022 11:01

In this episode with St George Mining Limited , we have John Prineas telling us all about the lithium discovery within their Mt Alexander project. I recently had a few conversations about lithium and I feel that the investing market has not realised that the lithium exploration timeline has just started.

The lithium euphoria has only been happening for the last two years. The discovery has been all the easy pickings and more commentary is now in the public domain about the discovery of pegmatites that are basically under cover.

Like all the previous commodity boom, the strong demand vs. supply equation will carry the rest of the lithium sector further. My view of the sector is that the demand for lithium will definitely outstrip what the work can provide, literally. The mining of lithium will never catch up with the need for the metal. There is no doubt about this statement.

St George Mining is now on the verge of joining the ranks of all the potential players out there with one pointed advantage. It is just 10km and along strike (within the potential mineralisation trend) of the Mt Ida Lithium project which is owned by Red Dirt Metals Limited (ASX: RDT).

In this episode, viewers should take note of the potential of the current drilling program. There have been rock chip results showing mineralisation but the drilling results will be the conclusive point.

“The width mapped on the surface and the rock chip assays should give some indication of the potential. It does not take a genius to realise that there will be pegmatite drilled and there will be number.

“Where the results will take the project is the unknown. I would start asking the company some serious questions and keep an eye on announcements from the company.”

Watch this conversation and make a decision to do some serious DYOR.

 

Chapters

00:00 Start

00:20 Introduction

01:27 About St George Mining.

01:58 Discovering having similar geology with Mt Ida.

03:32 How encouraging is the width of pegmatites?

05:13 The drilling program.

05:47 The lead up to the exploration geology is only 2 years old.

07:17 How much of the tenement has been looked at?

08:12 Is it advantageous to be close to Mt Ida?

09:26 Discovering the use of lithium.

11:10 How is your experience with the lithium trend?

13:07 St George Mining’s nickel projects.

15:20 Sharing the funding between two projects.

16:45 What are your thoughts on the market?

18:00 Do you see WA being the dominant player in the lithium space?

21:05 News flow.

22:01 Why St George Mining?

22:41 Conclusion

 

PODCAST

St George Mining Limited - discovering a major prize within a new lithium Province.

Listen to previous Coffee with Samso conversations on Lithium.

Riversgold Limited (ASX: RGL) – Vectoring into the next Lithium Discovery.

Red Dirt Metals Limited (ASX:RDT) – The Making of a Major Australian Lithium Mining Player.

Pan Asia Metals Limited (ASX: PAM) – An Economical Lithium Story in Thailand.

 

About John Prineas

B.Ec LL.B F Fin

Executive Chair

John is a founding shareholder and director of the Company. He has over 25 years experience in the banking and legal sectors, including a period as the head of a financial institution in Australia. He commenced his career as a lawyer at Allen, Allen & Hemsley, gaining extensive experience in commercial transactions and corporate advice in both Australia and Asia-Pacific.

In 1994, he joined Dresdner Bank AG in Sydney and over the next 10 years occupied the roles of General Counsel, Chief Operating Officer and Country Head with a focus on project and acquisition finance for resources and infrastructure projects as well as associated capital markets and treasury products, including commodities trading. John has a diverse range of high-level experience in finance, mining and corporate governance.

 

About St George Mining Limited (ASX:SGQ)

St George Mining Limited is a mining exploration company focused on creating shareholder value through the discovery of world class deposits.

At its flagship Mt Alexander Project in Western Australia, St George boasts Australia’s latest nickel-copper sulphide discovery. High-grade nickel-copper-sulphide-PGE mineralisation occurs from just 30m below surface and over a 4.5km strike of the Cathedrals Belt.

The discovery continues to grow with ongoing definition drilling delivering further significant intersections of high-grade mineralisation including:

MAD71 (Stricklands Prospect):

17.45m @ 3.01%Ni, 1.31%Cu, 0.13%Co and 1.68g/t total PGEs from 37.45m including the massive sulphide zones of: 5.3m @ 4.39%Ni, 1.45%Cu, 0.21%Co and 2.09g/t total PGEs from 39.3m;

2.02m @ 5.05%Ni, 2.01%Cu, 0.21%Co and 3.31g/t total PGEs from 50.6m; and

0.5m @ 3.68%Ni, 3.9%Cu, 0.17%Co and 2.68g/t total PGEs from 54.4m.

MAD56 (Cathedrals Prospect):

7.5m @ 3.90%Ni, 1.74%Cu, 0.12%Co and 3.32g/t total PGEs from 57.8m

Including 3.15m @ 6.36%Ni, 2.92%Cu, 0.20%Co and 5.03g/t total PGEs from 61.81m

MAD60 (Investigators Prospect):

5.3m @ 4.95%Ni, 2.75%Cu, 0.16%Co and 4.55g/t total PGEs from 157.9m

Including 3m @ 6.40%Ni, 3.55%Cu, 0.21%Co and 5.25g/t total PGEs from 159.38m

This major discovery comes at a time when the electric vehicle (EV) revolution and trend to alternative energy storage systems is gaining momentum. Demand for nickel sulphide – a critical battery metal – is forecast to surge with an upswing in the nickel price already underway.

Preliminary metallurgical tests of the massive sulphides at Mt Alexander produced concentrate with 18% nickel and 32% copper with high values for cobalt and PGEs.

The excellent exploration results at Mt Alexander build confidence in the resource potential at the Project and support Mt Alexander emerging as a major new nickel sulphide camp in Western Australia.

Our other projects – the Paterson and Broadview Projects – are located in exploration hotspots in Western Australia and provide additional value for the Company.

Drill core from MAD177 (photo below) which returned assays of:

10.5m @ 4.82% Ni, 1.67% Cu, 0.15% Co and 2.87 g/t total PGEs from 182.5m,

Including 4m @ 7.53% Ni, 2.47% Cu, 0.23% Co and 3.92 g/t total PGEs from 186m.

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