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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) identifies a highly anomalous nickel-copper soil anomaly at its Mt Alexander Project in Western Australia
  • So far, 465 soil samples have been collected from the project with an additional 533 samples planned for collection
  • The anomaly has a strike of more than 1.6 kilometres with grades so far peaking at 544 parts per million (ppm) nickel, 97ppm copper and 810ppm chromium
  • Soil sampling is continuing and drilling has been planned to test the targets with work set to begin in two weeks
  • St George is up 4.41 per cent on the market with shares trading at 7.1 cents at 12:21 pm AEST

St George Mining (SGQ) has identified a highly anomalous nickel-copper soil anomaly at its Mt Alexander Project.

The Mt Alexander Project lies 120 kilometres south-southwest of the Agnew Wiluna belt in Western Australia.

The anomaly is located on tenement E29/1041 where first potential was discovered via a review of historical regional magnetic data.

This showed two distinct magnetic trends with an east-west strike of roughly eight kilometres.

Rock chip sampling and field mapping was then undertaken earlier in the year with x-ray fluorescent (XRF) analysis recording values of up to 2475 parts per million (ppm) nickel and 105ppm copper.

These results warranted follow-up exploration with a geochemical soil survey undertaken over the magnetic trends.

St George then carried out a soil survey over the magnetic trends to investigate the presence of any nickel-copper mineralisation.

So far, 465 soil samples have been collected with an additional 533 samples planned for collection.

The anomaly has a strike of more than 1.6 kilometres with grades so far peaking at 544ppm nickel, 97ppm copper and 810ppm chromium.

These anomalous values are highly encouraging as similar features in the Cathedrals Belt have confirmed favourable settings for nickel-copper sulphide deposits.

Executive Chairman John Prineas is excited by the results received and is looking forward to undertaking further drilling.

“The results of the soil survey at E29/1041 are very exciting and warrant high-priority follow-up at this unexplored area of the Mt Alexander Project,” Mr Prineas commented.

“The peak soil values at E29/1041 are coincident with the strong magnetic features and provide a compelling target for potential nickel-copper sulphide mineralisation.

“These anomalous soil values are higher than anything we have seen at the Cathedral Belt, where a number of high-grade nickel-copper sulphide discoveries have already been made.”

Soil sampling is continuing and an aircore and reverse circulation drilling program has been planned to test the targets with work set to begin in two weeks.

St George was up 4.41 per cent on the market with shares trading at 7.1 cents at 12:21 pm AEST.

SGQ by the numbers
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