Growth-focused Western Australian nickel company St George Mining Limited (ASX: SGQ) (“St George” or “the Company”) is pleased to announce an exciting new EM target for massive nickel-copper sulphides at its flagship high-grade Mt Alexander Project, located in the north-eastern Goldfields.
HIGHLIGHTS
- Exceptionally strong off-hole electromagnetic (EM) conductor identified from downhole EM (DHEM) survey in MAD202 at the West End Prospect.
- New conductor is modelled with conductivity of 81,000 Siemens and has an electrical signature consistent with a massive sulphide source.
- The conductor is coincident with a series of large gravity and magnetic highs, further supporting the potential of this target to represent massive sulphides.
- New conductor is within a ‘field of EM conductors’ recently identified at the West End and Investigators Prospects, indicating potential for the presence of a significant volume of mineralisation in or near this area.
The EM conductor is modelled with conductivity of 81,000 Siemens, one of the highest of any conductor identified at Mt Alexander to date. The conductor was observed in the mid to late time data of the DHEM survey and recorded a time constant of 100 milliseconds. The combination of conductivity and time decay of this kind are typical of massive sulphides.
The new EM conductor is coincident with a trend of prominent gravity highs that are interpreted to represent dense rocks – further confirming the conductor as a compelling target for mineralisation.
Importantly, the new conductor is proximal to several other EM conductors recently identified by the DHEM surveys at West End and Investigators – in drill holes MAD196, MAD199, MAD200 and MAD201. This field of multiple conductors supports the potential of significant sulphide mineralisation in this underexplored area of the Cathedrals Belt.
John Prineas, St George Mining’s Executive Chairman, said:
“Our systematic and concurrent use of drilling and downhole EM surveys has delivered another stand-out result with the identification of one of the most exciting EM conductors at Mt Alexander to date. “
We have a 100% success rate in confirming conductors of this kind as nickel-copper sulphides, so we are confident that drilling this target will deliver another discovery of high-grade mineralisation. “
The growing number of significant mineralised intercepts and downhole EM conductors at West End and Investigators demonstrates a very large and fertile mineral system and further supports the potential for a significant deposit in this area.
“With demand for new sources of nickel sulphide booming and investors actively looking for nickel growth stories, we are excited that more opportunities to expand the mineralised footprint at Mt Alexander are continuing to evolve for our shareholders.”
