St George Mining Limited (ASX: SGQ) has discovered significant zinc, lead and silver mineralisation in the company’s first-ever drilling at its 100%-owned Ajana project, in the Mid West region of Western Australia.
Assays have confirmed multiple intersections of near-surface mineralisation across a broad area of the Ajana project tenure. The discovery intersections are associated with a 25km-long magnetic anomaly, highlighting the potential for Ajana to host a large-scale mineral deposit.
HIGHLIGHTS
- Assays for maiden RC drilling confirm locally high-grade zinc, lead and silver mineralisation in multiple drill holes at the Perseverant prospect, including:
- AJRC002: 5m @ 1.23% Zn + Pb, 7.2 g/t Ag from 57m, including
- 1m @ 2.06% Zn + Pb, 3.66 g/t Ag from 61m
- AJRC002: 1m @ 4.22% Zn + Pb, 1.1 g/t Ag from 95m
- AJRC003: 1m @ 1.83% Zn + Pb, 1.34 g/t Ag from 99m
- AJRC004: 1m @ 2.01% Zn + Pb, 8.81 g/t Ag from 45m
- AJRC009: 11m @ 1.2% Zn + Pb, 2.65 g/t Ag from 138m
- AJRC011: 1m @ 1.54% Zn + Pb, 0.24 g/t Ag from 180m
- AJRC002: 5m @ 1.23% Zn + Pb, 7.2 g/t Ag from 57m, including
- Immediate follow-up with diamond drill program:
- Highly encouraging RC drill results warranted follow-up with diamond drilling to provide further information on the structural setting and nature of the mineralisation
- Four deeper diamond drill holes have been completed with assays pending
- First diamond hole at the Catalina prospect – a large, discrete magnetic and gravity anomaly ~20km south-east of Perseverant – intersected extensive hematite alteration that may be indicative of a distal halo to strong mineralisation
- Approvals are being progressed for further diamond drilling to follow up this exciting target as soon as possible
- Drill results point to outstanding prospectivity across the Ajana project tenure:
- High-grade intersections at Perseverant are widely spaced and occur over an area 2.2km x 2.5km, confirming extensive mineralisation within the area tested to date
- RC holes were drilled at the north-west extent of a 25km-long magnetic complex, supporting the potential for significant mineralisation associated with this very large feature
- Multiple, additional magnetic anomalies already identified across the project tenure are now rated as high-priority drill targets
- St George holds a dominant landholding of 1,750 km2 in this unexplored area of the Northampton Mineral Field, representing a district-scale opportunity
John Prineas, St George Mining’s executive chairman, said:
“The exciting initial drilling results at Ajana are located in a previously unexplored area, beneath shallow overburden. It is a blind discovery – a credit to our technical team and their use of modern geophysics and other exploration technologies.
“Our corporate strategy includes identifying high-leverage greenfields opportunities in stable jurisdictions and it is very pleasing to see this strategy deliver immediate success at Ajana.
“It is early days but the signs are there that this discovery could evolve and result in the definition of significant mineralisation.”
