- Western Australian nickel company St George Mining (SGQ) has unearthed breakthrough exploration results at its Mt Alexander project
- Results from a recent survey found new information about the project and opened up a range of new priority targets for nickel-copper sulphide exploration
- The 2020 drilling programme will be deferred until all MT survey data can be considered and revised drill targets can be designed by St George’s technical team
- The deferral will also provide St George with an opportunity to plan a program that addresses the developing restrictions related to the COVID-19 pandemic
- St George is up 17.5 per cent on the market this morning, trading at 7.4¢ per share
Western Australian nickel company, St George Mining (SGQ) has unearthed breakthrough exploration results at its Mt Alexander project.
Results from a recent survey uncovered new information about the project and opened up a range of new priority targets for nickel-copper sulphide exploration.
The magnetotellurics (MT) survey was completed at Mt Alexander earlier this month.
The survey aimed to map structures and conductive rock types along two key sections of the Cathedrals belt, which is known to have nickel-sulphide mineralisation. It also looked at areas around the belt which have similar structures.
At the Investigators Prospect, data from the survey showed a clear conductive response that goes in line with the high-grade mineralisation that has already been discovered.
The data indicated that the ultramafic rocks at the prospect have been potentially offset by faulting, but a repetition of the ultramafic occurs below the offset and to the north. This area has never been drilled and could extend to a depth of more than 1000 metres.
Executive Chairman John Prineas says the results from the MT survey are a “game-changer” for exploration at Mt Alexander Project.
“We have already discovered high-grade nickel-copper sulphides at shallow depths across more than 5.5 kilometres of the Cathedrals Belt,” John said.
However, intrusive mineral systems like we have at the Cathedrals Belt will typically have significant mineralisation at depth.
“These potential larger deposits are likely to be at deeper levels than explored to date at the Cathedrals Belt and our challenge has been how to best target drilling to discover these deeper, undercover deposits,” John explained.
“We now have a guide to where the granites have disrupted the ultramafics, how the ultramafics have been folded and – most importantly – where the deeper deposits may be located,” he added.
The 2020 drilling programme will be deferred until all MT survey data can be considered and revised drill targets can be designed by our technical team.
The deferral will also provide St George with an opportunity to plan a programme that addresses the developing restrictions related to the COVID-19 pandemic.
“The COVID-19 pandemic has created many challenges for our community and for our industry. We will carefully navigate this evolving period of uncertainty to protect the health and safety of our team and service providers, and to keep St George strong,” John told the market.
“We are undeterred in our commitment to deliver further exploration success at our projects and will be announcing more significant exploration initiatives over the coming weeks, including a revised drill programme for Mt Alexander and our first exploration results at the new Paterson Project where an airborne magnetic survey was completed this month,” he added.
St George will revise the drill programme for Mt Alexander and is excited at the opportunity to test drill these new targets.
St George is up 17.5 per cent on the market this morning, trading at 7.4¢ per share at 11:35 am AEDT.