St George Mining (ASX: SGQ) has announced further strong results from exploration programmes underway at its flagship Mt Alexander Project, located in the north-eastern Goldfields.
HIGHLIGHTS
· Drilling of electromagnetic (EM) conductors brings more exploration success:
· Multiple intersections of nickel-copper sulphide mineralisation with four drill holes completed so far in the current drill programme
· Significant extensions confirmed to known zones of high-grade mineralisation
· Early drilling success supports the potential to significantly increase the volume of high-grade mineralisation at Mt Alexander, with a large number of EM conductors lined up for drilling
· New EM targets identified in underexplored area of the Cathedrals Belt:
· Moving loop EM (MLEM) survey underway has identified two strong bedrock conductors consistent with a massive sulphide source in the underexplored area to the east of the Cathedrals Prospect
· These new targets offer an excellent opportunity for a new discovery of nickel-copper sulphides, and drilling of the targets has been fast-tracked for next week
· MLEM survey over the very strong nickel and copper soil anomaly identified at the Fish Hook Prospect will commence later this week
Four diamond drill holes have been completed in the current programme, all of which were located at the Investigators Prospect, with multiple intersections of nickel-copper sulphides and prospective ultramafic rocks reported. Details of all drill results are discussed below.
The thickest interval of mineralisation was delivered by MAD146, which intersected 15.1m of sulphide mineralisation that comprised 14.8m of disseminated and blebby sulphides and 0.3m of massive sulphides, with the latter section recording an average XRF reading of 8.1%Ni and 3.9%Cu. (XRF readings are preliminary and subject to verification by laboratory assays). The photo on the right is of the drill core from MAD146 with massive sulphides at 187m downhole.
Exciting results have also been delivered by the extensive EM surveys in progress at the Cathedrals Belt.
The MLEM survey completed in the underexplored area to the east of the Cathedrals Belt has identified two strong EM conductors that are interpreted as likely to be associated with nickel-copper sulphides. One conductor is located 1km to the east of the Cathedrals Prospect and adjacent to a nickel-copper gossan.
The other is located a further 1km east at the Bullets Prospect and along strike from a historical drill intersection of nickel-copper sulphides made by BHP.
John Prineas, St George Mining’s Executive Chairman, said: “Initial drill results in the current programme have confirmed further continuity to the mineralisation at Investigators and support the potential to significantly bulk up the scale of the mineralised envelope in this area, which covers a 1.5km east-west strike.
“The new EM conductors identified in the Cathedrals Belt are a great reward for our ongoing methodical exploration of the Belt. Any drill intersection of high-grade nickel-copper sulphides in this underexplored area of the Cathedrals Belt would represent a new discovery with the potential to significantly increase the endowment of high-grade mineralisation in the Belt.
“Exploration programmes continue in full swing at Mt Alexander with drilling 24/7 and further EM surveys underway.”
