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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) has outlined exciting new nickel-copper sulphide targets at its Mt Alexander Project in WA
  • The most significant target is a large conductive feature that is located just below the shallow high-grade mineralisation at the Investigators Prospect
  • This is significant because it is an ideal location for extensions to the high-grade mineralisation
  • Nickel-copper sulphide targets have also been identified at the Radar, Cathedrals, Fairbridge and Investigators East Prospects
  • Survey lines will be completed across these prospects in two to three weeks
  • In addition, air core drilling is being planned at Investigators to enable more precise targeting for deeper diamond drilling to test the conductive feature
  • St George is up 5.68 per cent and shares are trading for 9.3 cents each

St George Mining (SGQ) has outlined exciting new nickel-copper sulphide targets at its Mt Alexander Project in WA.

Mt Alexander is located 120 kilometres south-southwest of the Agnew-Wiluna belt which is home to numerous world-class nickel deposits.

3D analysis of the magnetotelluric (MT) and audio-magnetotelluric (AMT) survey data has provided further outlines to conductive features that are favourable in nickel-copper sulphides.

An MT survey is used to map the resistivity variations just below the surface and is done so by measuring the naturally occurring electric and magnetic fields on the Earth’s surface.

AMT surveys are similar but use smaller and lighter magnetic sensors and usually take a shorter time to complete.

The most significant target for St George is a large conductive feature that is located to the north and below the shallow high-grade mineralisation at the Investigators Prospect.

This conductive feature could outline continuity of the mineralisation.

This is so significant because it is an ideal location for extensions to the high-grade mineralisation.

Nickel-copper sulphide targets have also been identified at the Radar, Cathedrals, Fairbridge and Investigators East Prospects, and extra survey lines will be completed across these prospects in two to three weeks.

Air core (AC) drilling is now being planned to confirm the presence of ultramafics (rocks made up of magnesium and iron minerals) at the Investigators Prospect.

The aim of this is to enable more precise targeting for deeper diamond drilling to test the conductive feature.

“The MT survey data is showing us that there is an extensive and deep-reaching structural network at Mt Alexander, which is typical of large nickel sulphide systems,” Executive Chairman John Prineas stated.

“We are seeing new conductive zones along strike and down-dip of known nickel-sulphide deposits – these locations are very favourable for the potential discovery of additional mineralisation,” he said.

“The new MT data increases our confidence that there are more nickel-copper sulphide deposits to be discovered at Mt Alexander. We look forward to the start of the upcoming drill program,” he added.

St George is up 5.68 per cent and shares are trading for 9.3 cents each at 12:55 pm AEST.

SGQ by the numbers
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