Growth focused Western Australian nickel company St George Mining (ASX: SGQ) has announced breakthrough exploration results that identified significant new exploration targets at its flagship Mt Alexander nickel-copper sulphide project, located in the northeastern Goldfields.
HIGHLIGHTS:
Magnetotelluric (MT) and Audio-magnetotelluric (AMT) survey delivers breakthrough results:
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Very significant exploration potential is confirmed with MT/AMT survey successfully mapping structures and conductive stratigraphy to a depth of more than 3,000m from surface
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These deep, mantle-tapping faults are textbook conduits for nickel-copper sulphides and typical of large nickel sulphide mineral systems
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New conductive features have been identified at depth within the Investigators, West End and Fairbridge Prospects in areas yet to be tested by drilling
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Potential extensions of the highly mineralised Investigators ultramafic have been identified below the current extent of drilling
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Conductive structures and stratigraphy parallel to the Cathedrals Belt have been identified on Exploration Licence E39/548, to the north of the Cathedrals Belt
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Modelling of the MT survey data is continuing with further results due next week
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Revised drill programme being planned to test the new deeper targets
Assays for MAD177 confirm high-grade nickel-copper-cobalt-PGE sulphide mineralisation:
Laboratory assays for metallurgical drill hole MAD177 have returned:
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10.5m @ 4.82% Ni, 1.67% Cu, 0.15% Co and 2.87 total g/t PGEs from 182.5m, including 4m @ 7.53% Ni, 2.47% Cu, 0.23% Co and 3.92 total g/t PGEs from 186m
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Platinum group metals include high levels of Palladium and Rhodium – 10.5m @ 2.33g/t Pd and 0.08g/t Rh including 4m @ 3.23g/t Pd and 0.1g/t Rh
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Metallurgical testwork is continuing in Perth
Scoping study for potential mining operation continues to advance:
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Phase 2 of environmental study planned for completion in Q2 2020
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Entech appointed as external geological consultant for the maiden mineral resource estimate for Mt Alexander
An MT/AMT survey was completed at Mt Alexander earlier this month, designed to map structures and conductive rock types (including mafic/ultramafic intrusives) along two key sections of the Cathedrals Belt that are known to host nickel-copper sulphide mineralisation.
The survey was also designed to identify repetitions of similar structures and stratigraphy in the underexplored tenements adjacent to the Cathedrals Belt. Interim results from the MT survey have delivered exciting new information on the presence and orientation of the prospective structures and potential mafic/ultramafic stratigraphy, opening up a new range of priority targets for nickel-copper sulphides.
At the Investigators Prospect, data from the MT survey has clearly shown a conductive response that is coincident with the Investigators ultramafic where extensive high-grade mineralisation has already been discovered from near surface to more than 250m below surface. The coincidence of the known shallow nickel-copper sulphides at Investigators with a strong conductive response, supports the potential of other similar responses in the MT survey data to represent mineralised ultramafics. The MT survey data at Investigators indicates that the Investigators ultramafic has been potentially offset by faulting, but that 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 1,000m.
