St George Mining (ASX:SGQ) - Executive Chairman, John Prineas (centre)
Executive Chairman, John Prineas (centre)
Source: St George Mining
Market Herald logo


Be the first with the news that moves the market
  • St George Mining (SGQ) identifies a large target at the Mt Alexander project in WA’s Goldfields region
  • The target is located down-dip of existing nickel-copper sulphide mineralisation at the Investigators prospect along the Cathedrals Belt
  • The discovery was made through data generated from a recently completed survey which was the first-ever seismic survey to be conducted at the Cathedrals Belt
  • St George Mining is continuing to assess additional targets and says it’s eager to unlock a new potential massive sulphide deposit
  • Company shares are up 3.33 per cent to trade at 6.2 cents

St George Mining (SGQ) has identified a large target at the Mt Alexander project in Western Australia’s Goldfields region.

The miner completed the first-ever seismic survey to be undertaken at the Cathedrals Belt, which is an east-northeast trending belt that hosts mineralised ultramafics.

Three north-south oriented 2D seismic lines around one kilometre apart were completed at the West End and Investigator prospects.

The seismic survey successfully mapped the intrusive structures in all three lines, which is reportedly consistent with St George’s geological model. The model interprets the Cathedrals Belt structure as dipping to the north-northwest with potential for massive sulphides of the existing shallow nickel-copper sulphides.

The newly-identified target sits down-dip of existing nickel-copper sulphide mineralisation discovered at the Investigators prospect. It’s located about 800 metres below surface, has a dip extent of over 450 metres and appears to have the same properties as known shallow massive sulphides.

Further, four north-northwest dipping structures are mapped, with one located to the south of the Cathedrals Belt and the other three are to the north.

Executive Chairman John Prineas commented on the survey results.

“We are delighted with the results of the first-ever seismic survey at Mt Alexander which has delivered not only a breakthrough in our understanding of the complex intrusive system at Mt Alexander but also an outstanding new target for a potential massive sulphide deposit,” he said.

“The mineralisation we have at Mt Alexander is unique – the rare combination of high-grade nickel, copper, cobalt and platinum group metals is not seen anywhere else in Australia. Our challenge is to discover a large deposit of this kind of mineralisation.”

Modelling and interpretation of the survey data is ongoing, with the company assessing a number of additional targets.

Company shares were up 3.33 per cent to trade at 6.2 cents at 11:32 am AEDT.

SGQ by the numbers
More From The Market Herald
Limeade (ASX:LME) - CEO, Henry Albrecht

" Limeade (ASX:LME) maintains FY21 financial guidance in quarterly report

Limeade (ASX:LME) has maintained its FY21 revenue guidance of $50 million to $53 million, but posted…
Sihayo Gold (ASX:SIH) - Executive Chairman, Colin Moorhead

" Sihayo Gold (ASX:SIH) secures further interim funding

Sihayo Gold (ASX:SIH) has secured interim funding from its shareholder, PT Saratoga Investama Sedaya Tbk.

" Alchemy Resources (ASX:ALY) commences aircore drilling at Karonie

Aircore drilling is underway at Alchemy Resources' (ASX:ALY) Karonie gold project 110 kilometres east of Kalgoorlie,…
Little Green Pharma (ASX:LGP) - Managing Director, Fleta Solomon

" Little Green Pharma (ASX:LGP) seeks to expand to Greece

Little Green Pharma (ASX:LGP) seeks to expand to Greece