St George Mining is pleased to see the exciting growth emerging at Myuna Rocks in terms of scale as well as new identified targets. Pic via Getty Images
Mining
Special Report: An aeromagnetic survey over St George Mining’s Myuna Rocks project, along strike from Arcadium’s spodumene-producing Mt Cattlin mine, has outlined new target areas which demand immediate follow-up exploration.
St George Mining’s (ASX:SGQ) project-wide aeromagnetic survey was the first modern, high-resolution magnetic survey carried out over an underexplored area of Myuna Rocks in WA’s Ravensthorpe region.
The interpretation of the survey data confirmed a number of geological and structural features that are strongly supportive of potential mineral deposits in the area.
A large, late-stage granite intrusion was identified within the project tenure, which extends for more than 18km north-south and 8km east-west, bounded by an interpreted shear zone called the ‘Myuna Shear’.
SGQ believes the granite could act as a source for lithium mineralisation, potentially upgrading existing lithium mineralisation in adjacent host rocks, opening a large area for exploration targeting.
SGQ has also doubled the Myuna Rocks tenement package with the recently granted E74/789 and E74/790 licences providing an opportunity for the company to become a dominant player in the underexplored Ravensthorpe lithium region.
Myuna now represents the single, largest contiguous landholding with exposure to the Ravensthorpe greenstone belt, with the 272km2 of granted tenure increasing the company’s tenement package to 546km2.
“The project is now larger than the area of the nearby Mt Cattlin mine owned and operated by the $11 billion ASX-listed Arcadium Lithium,” SGQ executive chairman John Prineas says.
“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,” he adds.
“The results of the recent airborne magnetic survey corroborate our belief that Myuna Rocks is prospective for significant lithium mineralisation.”
The Myuna Rocks land package begins 5km north of Mt Cattlin and extends for more than 50km to the northwest along a regional greenstone corridor.
In addition to the spodumene-producing Mt Cattlin mine owned by global lithium major Arcadium Lithium (ASX:LTM), other active explorers in the area include Fortescue (ASX:FMG), NickelSearch (ASX:NIS) and Woomera Mining (ASX:WML).
A Program of Works (PoW) has already been submitted to the Department of Mines, Industry Regulation and Safety (DMIRS) for drilling on accessible areas at Myuna Rocks. Approval is awaited.
Landholder engagement is progressing for access to the broader project area. The latest magnetic survey has identified target areas to be prioritised for access and exploration.
Planning is under way for a maiden drill program, set to kick off in Q2/Q3 2024.
This article was developed in collaboration with St George Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
