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St George Mining (ASX:SGQ) - Executive Chairman, John Prineas
Executive Chairman, John Prineas
Source: St George Mining
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  • St George Mining (SGQ) completes its maiden drill program at its Paterson Project in Western Australia
  • Drilling began in early June with a focus on testing high-priority targets identified via magnetic surveys undertaken last year
  • To date, 35 holes have been drilled with multiple holes intersecting prospective basement rocks
  • First assay results are expected next month and follow-up diamond drilling is scheduled for October
  • Shares in St George are up 3.03 per cent and are trading at 6.8 cents at 10:32 am AEST

St George Mining (SGQ) has completed its maiden drill program at its Paterson Project in Western Australia.

The company began drilling in early June with 10,000 metres of reverse circulation (RC) and aircore drilling planned.

To date, 35 holes, for 6264 metres, were drilled with focus on testing high-priority targets identified via a gravity and airborne magnetic survey undertaken last year.

Multiple holes intersected prospective basement rocks including chalcopyrite-bearing and gossanous metasediments.

St George believes these rocks indicate potential base metal and gold mineralisation in the project area.

First assay results are expected next month and follow-up diamond drilling is scheduled for October.

Additionally, an airborne electromagnetic (EM) survey is planned for early October and a gravity survey is scheduled to begin later this month.

A ground gravity survey will also be completed over St George’s second Paterson tenemenT, E45/5422.

Executive Chairman John Prineas commented on the drilling program.

“The inaugural drill program at our Paterson Project is delivering great results with confirmation of basement rocks that are known to host major copper and gold deposits in the Paterson region,” Mr Prineas said.

“The next phase of drilling at Paterson will be with diamond core drilling — this will be deeper drilling to further test the emerging copper and gold targets that we have identified.”

Shares in St George were up 3.03 per cent and were trading at 6.8 cents at 10:32 am AEST.

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