- St George Mining has found new nickel and copper traces and it W.A.-based project
- The company says the intersections it has identified are the deepest at the project to date
- Testing and drilling is in continuation as St George continues expanding its findings
- St George’s share price is up over 10 per cent, currently trading for 16 cents each
Miners St George has encountered new nickel and copper traces at its Mt Alexander project in Western Australia.
After informing the Australian market of its new prospective intercepts, St George’s share price is up 10.71 per cent and selling shares for 16 cents each.
At Mt Alexander, the company operates the Cathedrals Belt which has been undergoing a series of testing and drilling to evaluate the area.
“We have seen the deepest intersection of nickel-copper sulphides at the Cathedrals Belt to date,” company Executive Chairman John Prineas said.
It is expected, based on the results gathered so far, that there is strong potential for continued discoveries.
“The thickness of the mineralised intercept and the style of mineralisation support the potential for further high-grade mineralisation to be present in this area,” John explained.
St George operates four exploration licenses at the Mt Alexander project. One of these – E29/638 – is held in a joint venture with Western Areas Limited. St George holds a 75 per cent interest.
The other three exploration licenses are held in full by St George.
Going forward, John said: “We are increasingly confident that ongoing drilling could discover further significant nickel-copper sulphides down-plunge of the shallow high-grade deposits already established at Cathedrals Belt.”