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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) has released its latest quarterly report, touching on exploration work at its Mt Alexander and Paterson Projects
  • Work at Mt Alexander focused on determining the potential for further nickel-sulphide mineralisation at depth
  • As a result, a multi-rig program has been planned to test new conductive zones
  • Following the survey at Mt Alexander, St George completed a close-space airborne magnetic survey at the Paterson Project
  • Data from this survey identified prominent magnetic features which span throughout the 35-kilometre strike length
  • At the end of the quarter, St George holds $2.57 million in cash, which is slightly less than the $4.28 million from the previous quarter
  • St George is down 4.55 per cent and shares are trading for 10.5 cents each

St George Mining (SGQ) has released its latest quarterly report, touching on exploration work at its Mt Alexander and Paterson Projects.

Mt Alexander Project

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

In March, St George completed an MT/AMT survey at the project to determine the potential for further nickel-sulphide mineralisation at depth.

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

AMT surveys are similar, however, they use smaller and lighter magnetic sensors.

A total of two survey lines were completed at Mt Alexander.

The MT survey successfully mapped an extensive and deep structural framework at Cathedrals Belt.

3D modelling of the survey data was then completed and it outlined further definition that supports the belief that nickel-copper sulphides may be present at depth.

Nickel-copper sulphide targets were also identified at the Radar, Cathedrals, Fairbridge, and Investigators Prospects.

However, these areas are yet to be drill tested.

A multi-rig program has been planned to test new conductive zones.

Scoping Study

St George appointed Entech as its independent geological consultant to estimate a maiden JORC compliant mineral resource for Mt Alexander.

Work will initially focus on the Stricklands deposit where massive nickel-copper mineralisation begins at a depth of 30 metres below surface.

Once substantial information has been received it will be used in the scoping study for Mt Alexander.

High-Grade Results

One of St George’s drill holes at Mt Alexander returned high-grade results of four metres at 7.53 per cent nickel, 2.47 per cent copper, 0.23 per cent cobalt, and 3.92g/t platinum group elements (PGE) from 186 metres.

High levels of palladium and rhodium were also intersected, 3.23g/t and 0.1g/t respectively.

Paterson Project

St George’s Paterson Project is located in Western Australia’s Paterson Province, which is one of the country’s most highly prospective mineral provinces.

The Province is largely unexplored and hosts significant copper and gold discoveries such as Metals X’s Nifty Copper Deposit, and Newcrest Mining’s Telfer Gold and Copper Deposit.

During the quarter, St George completed a close-space airborne magnetic survey at the project.

Data from this survey identified prominent magnetic features that span throughout the 35-kilometre strike length.

Further exploration is being planned to follow-up on these results.

Cash

At the end of the quarter, St George holds $2.57 million in cash, which is slightly less than the $4.28 million from the previous quarter.

St George is down 4.55 per cent and shares are trading for 10.5 cents each at 2:35 pm AEST.

SGQ by the numbers
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