Growth-focused Western Australian nickel company St George Mining (ASX: SGQ) is pleased to announce exciting interim results from the maiden drill programme underway at its Paterson Project, located within the Paterson region of Western Australia.
HIGHLIGHTS
- 18 drill holes completed to date for 3,338m drilled as part of the maiden 10,000m drill programme at St George’s 100%-owned Paterson Project.
- Drilling on wide spaced traverses is testing the lithology and depth of cover across a 35km strike of prospective stratigraphy at St George’s Exploration Licence E45/5226.
- Multiple drill holes have intersected prospective basement rocks including chalcopyrite bearing intermediate igneous intrusives and intensely altered and gossanous sediments – these rocks are indicative of potential base metal and gold mineralisation in the project area.
- XRF analysis of the basement rocks indicates elevated levels of pathfinder elements for potential base metal and gold deposits including highly anomalous bismuth, arsenic, copper, zinc, lead, molybdenum and vanadium.
- Depth of cover has been confirmed as <180m which is relatively shallow for the region and highly explorable.
- Follow-up diamond drill programme planned for deeper drilling of high-priority areas of interest.
* Laboratory assays are pending and are required to confirm the metal values which have been estimated using geological logging and portable XRF analysis.
St George’s Paterson Project is an early-stage opportunity with significant exploration upside for base metal and gold deposits. It complements the Company’s flagship Mt Alexander nickel-copper sulphide project, where St George is continuing to expand the footprint of high-grade mineralisation and advance towards a potential mine development.
John Prineas, St George Mining’s Executive Chairman, said:
“The initial results from the inaugural broad-spaced drill programme at our Paterson Project are already exceeding our expectations. We are seeing geological features and lithologies which are indicative for mineral deposits in the region.
“These early observations are confirming our belief that our ground is fertile for base metal and gold mineralisation.
“Given these highly encouraging results, we are seeking to source a diamond rig to complete deeper drilling to further test these emerging high-value copper and gold targets.”
