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St George Mining (ASX:SGQ) - Executive Chairman, John Prineas
Executive Chairman, John Prineas
Source: The Market Herald
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  • St George Mining (SGQ) begins drilling at its flagship Mt Alexander Project in Western Australia
  • Drilling will be undertaken at the Carnac and Cathedrals prospects as well as two anomalies
  • Initial focus will be at the Carnac Prospect to confirm the presence of mafic-ultramafic rocks as well as nickel and copper anomalism
  • This will be the first ever drilling program undertaken at the prospect
  • St George is up 1.54 per cent at 6.6 cents at 3:22 pm AEST

St George Mining (SGQ) has begun drilling at its flagship Mt Alexander Project in Western Australia.

Mt Alexander lies 120 kilometres south-southwest of the Agnew-Wiluna Belt and comprises six granted exploration licences.

Carnac

The first holes of this drilling program will be drilled at the newly defined Carnac Prospect on tenement E29/1041.

Seven holes have been planned to confirm the presence of mafic-ultramafic intrusive-style rocks as well nickel and copper anomalism.

This will be the first ever drilling undertaken at Carnac, with soil surveying identifying anomalous nickel, copper and chromium mineralisation.

Cathedrals

Infill drilling will also be undertaken at the Cathedrals Prospect to test the continuity of known high-grade mineralisation.

Initially 20 holes will be drilled with a focus on also testing the potential extensions of known mineralisation into areas where there has been no prior drilling.

Previous drilling has confirmed high-grade nickel-copper sulphide mineralisation from 30 metres below surface.

Once results have been received and assessed from the high-priority holes, further infill drilling will be designed with a program of works approving 82 holes.

Bulls-Eye magnetic anomaly

An airborne magnetic survey completed earlier in the year at tenement E29/972 identified a very strong magnetic anomaly.

Two holes will initially be drilled with aims to identify the source of the magnetic signature.

Once received, the results will be used to determine the prospectivity to host mineralisation.

Nickel soil anomaly

Five holes will be drilled to test the upper and lower ultramafic units, and will then be cased in PVC to allow downhole electromagnetic (EM) surveys to be undertaken.

Historical work included a soil survey that returned anomalous values of nickel sulphide mineralisation.

Follow up drilling has been shallow and limited in testing the effectiveness of the area.

Executive Chairman John Prineas commented on the drilling program.

“These targets offer an excellent opportunity to expand the footprint of mineralisation at Mt Alexander with a new discovery,” Mr Prineas said.

“With nickel prices powering ahead on rising battery metal demand, Mt Alexander is well positioned to attract attention from investors looking for proven high-grade nickel sulphide discoveries.”

St George is up 1.54 per cent at 6.6 cents at 3:22 pm AEST.

SGQ by the numbers
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