St George makes a major lithium play

22nd March 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


Font size: - +

PERTH ( – Junior explorer St George Mining has announced the acquisition of seven hard rock lithium projects in Western Australia.

The company on Wednesday announced a transaction with unlisted Chariot Corporation and Stallion Lithium to acquire the 14 exploration licences which cover a total 653 km2 of tenements.

Several of the projects are located along strike from high-grade lithium deposits and established spodumene-producing lithium mines, including the Split Rock project, which is 25 km from the Earl Grey lithium deposit owned by Covalent Lithium, the Buningonia and Buningonia North projects, which are in the same lithium province as Global Lithium’s Manna project and the Bald Hill mine, and the Myuna Rocks project, which is located near the 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,” said executive chairperson John Prineas.

“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,” said Prineas.

Under the terms of the transaction, St George would pay an initial A$300 000 in cash on completion of the transaction, along with A$400 000 worth of shares in the company, amounting to some 6.06-million shares.

A resource milestone payment of 15-million fully paid ordinary shares in St George is also due on the announcement of a Joint Ore Reserves Committee-compliant inferred resource of no less than 10-million tonnes of lithium oxide, with a minimum grade of 1%. A 2% net smelter royalty would also be retained by Charot for any mineral product produced and sold from the lithium projects, with St George having the right to buy back half of the royalty by paying A$5-million in cash at any time prior to the start of commercial production.

Edited by Creamer Media Reporter


Latest News

Vedanta chairperson Anil Agarwal
Vedanta demerges divisions into subsidiaries
29th September 2023 By: Marleny Arnoldi


Hudaco Power Transmissions
Hudaco Power Transmissions

Formerly known as Bauer Geared Motors South Africa, the company was founded in 1984 as the sole distributor in Southern Africa of the Bauer Geared...

Gedore Tools
Gedore Tools

Gedore Tools strive to be a leading supplier of superior quality tools to its designated markets.


Latest Multimedia

sponsored by

Magazine round up | 29 September 2023
Magazine round up | 29 September 2023
29th September 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.075 0.106s - 109pq - 2rq
Subscribe Now