Growth focused Western Australian nickel company St George Mining (ASX: SGQ) has commenced exploration at its Paterson project, located within the Paterson Province of Western Australia. It is an early stage project with significant exploration upside, and complements the Company’s flagship Mt Alexander nickel-copper sulphide project.
HIGHLIGHTS:
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Exploration activities underway at St George’s Paterson Project
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Airborne magnetic survey to commence shortly over St George’s ground, which covers more than 35km of strike of prospective stratigraphy
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St George’s Paterson Project is in the same regional location as Rio Tinto’s exciting Winu discovery and Newcrest’s world-class Telfer gold-copper mine
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Preliminary interpretation of Government regional magnetic data suggests that the depth of cover at St George’s project is much less than other exploration projects in the region, potentially allowing for expedited and lower-cost exploration drilling
Paterson Province – World-Class Mineral District
The Paterson Province is one of the most highly endowed mineral provinces in Australia, and hosts the giant Nifty (2Mt Cu) and Telfer (27M oz Au) deposits. The region remains underexplored with a number of significant copper and gold discoveries recently announced including at Rio Tinto’s Winu Project and at the Havieron Project being explored in joint venture by Greatland Gold and Newcrest.
These latest discoveries have fueled strong interest in the Paterson Province from major mining companies such as Fortescue Metals (ASX: FMG), Rio Tinto (ASX: RIO) and Newcrest Mining (ASX: NCM) – ensuring that the region is re-emerging as a highly sought after exploration address with potential for world-class discoveries.
St George secured ground in the Paterson Province on 17 December 2019 with the grant of Exploration Licence E45/5226. Another tenement – Exploration Licence E45/5422 – is in the application phase and expected to be granted to St George during 2020.
St George’s Project – Prospective Stratigraphy St George’s granted exploration licence covers more than 35km strike of prospective stratigraphy, with potential similarities to the stratigraphy that hosts the mineralisation at Winu, Nifty and Telfer.
Our review of the regional magnetic and gravity data available on the Government database has highlighted a number of key structures and tectonic features within the St George tenure.
Significantly, these features are more prominent in St George’s ground than at other project areas like Winu and Havieron, suggesting that the depth of cover at St George’s ground is much less than at these other projects – potentially allowing for expedited and lower cost exploration drilling.
