St George Mining Partners with Jayson, Invests A$2 Million

On November 30, St George Mining Ltd (ASX: SGQ) announced a strategic partnership with Jayson New Energy Materials Co., Ltd. to collaborate on the Mt Alexander Lithium Project in Western Australia. The day before, St George raised A$7.2 million, with Jayson investing A$2 million. The funds will support initial exploration, including a 20,000-meter drilling program in the first half of 2023.

The partnership aims to develop lithium projects in Western Australia, including investment in the Mt Alexander project, funding for business expansion, and collaboration on new lithium exploration projects. The agreement will last two years, covering St George’s 100% owned leases, without exclusivity.

CEO John Prineas said, “Our success at Mt Alexander has attracted significant interest, and we are pleased Jayson recognizes this growing opportunity. This strategic relationship will unlock the full potential of our exploration leases.”

St George’s initial exploration began in late October, targeting areas with rock chip samples up to 2.72% Li2O, comparable to nearby Red Dirt Metals’ Mt Ida project. The Mt Alexander Project is located 120 kilometers southwest of the Agnew-Wiluna Belt, a major nickel mining district. St George holds 100% of the project’s eight exploration leases and has a joint venture with IGO Ltd (ASX: IGO) on a nickel-copper-cobalt-PGE project.

Jayson is a key supplier in the new energy sector, focused on lithium battery materials and global mining investments. Its actual controller, Liang Feng, is also the chairman of Shanghai Putailai New Energy Technology Co., Ltd. (603659) and co-founder of Hong Kong Ansheng Mining Investment Co., Ltd., with numerous global mining projects.