St George Mining (ASX: SGQ) has announced the acceleration of exploration at the C1 target – a high-priority target for a potential mineralised carbonatite – at its 100% owned Destiny project located in the Eastern Goldfields region of Western Australia.
HIGHLIGHTS
- Large circular magnetic feature – 2.1km in diameter and named “C1” – has been prioritised for further exploration
- Recent gravity survey over C1 has confirmed a high gravity signature in the core of the feature – consistent with a dense body and supporting the potential for the target to represent a carbonatite or mafic intrusion
- C1 has geophysical characteristics similar to known mineralised carbonatites in Western Australia – including the Mt Weld Project of Lynas Rare Earths (ASX: LYC) and the Luni carbonatite of WA1 Resources (ASX: WA1), which hosts a significant niobium-REE discovery
- C1 similarly has prominent magnetic/high gravity features and is situated adjacent to the Ida Fault, a regional scale crustal structure
- Closed-spaced gravity survey to be completed at C1 next month ahead of finalisation of drill targets
Destiny is part of St George’s portfolio of clean energy metals projects in Western Australia. The company’s efforts are focused on making a discovery of major new mineral deposits, based on a pipeline of exploration targets for niobium, rare earths, lithium, copper and nickel sulphide.
John Prineas, St George Mining’s Executive Chairman, said:
“We are delighted that our systematic exploration at the Destiny Project has identified exciting targets for carbonatite-hosted mineralisation.
“The C1 target, in particular, has a geophysical signature and geological setting that is consistent with a late-stage intrusion such as a carbonatite.
“We are prioritising exploration at C1 in light of its similarities to known mineralised carbonatites in Western Australia – such as Mt Weld and Luni.
“The large scale of C1 supports the potential for a significant greenfields discovery, and we look forward to drilling this exciting target soon.”
