Growth-focused Western Australian nickel company St George Mining (ASX: SGQ) today announced that drilling has commenced at its Paterson project, located within the Paterson region of Western Australia.
HIGHLIGHTS:
- 10,000m reverse circulation (RC) drill programme has commenced at St George’s 100%- owned Paterson Project, in WA’s highly prospective Paterson region.
- Drilling is focused on high-priority copper and gold targets generated by magnetic and gravity geophysical surveys.
- Project area has never been explored with modern geophysics and drilling techniques, providing St George with an excellent opportunity to deliver a discovery.
- St George’s project area is bounded by ground held by Rio Tinto (ASX: RIO), Fortescue Metals Group (ASX: FMG), Antipa Minerals (ASX: AZY) and Sipa Resources (ASX: SRI) – the latter two having entered into high-value joint ventures with Rio Tinto.
- Paterson Project complements St George’s advanced high-grade Mt Alexander nickel-copper sulphide asset.
St George’s Paterson Project is an early stage opportunity with significant exploration upside for copper 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 nickel-copper sulphide mineralisation and advance towards a potential mine development.
MAJOR DRILL PROGRAMME IS UNDERWAY
A major RC drill programme has commenced at E45/5226, one of two Exploration Licences that make up St George’s 100%-owned Paterson Project.
The maiden drill programme at our Paterson Project will comprise approximately 10,000m of RC drilling and will focus on characterising the stratigraphy and testing high-priority targets that have been assessed by our technical team as potentially prospective for copper and gold.
John Prineas, St George Mining’s Executive Chairman, said:
“We are delighted to be on the ground at the Paterson Project and commencing our inaugural drill programme at this exciting exploration opportunity.
“The Paterson region is one of Australia’s most active exploration frontiers on the back of multiple major discoveries made over the past few years including Winu and Havieron. The Paterson is regarded as ‘elephant country’ and continues to attract significant investment from the major mining companies.
“Our technical team has worked methodically to establish a number of high-priority exploration targets. These have never been drilled and offer St George an excellent opportunity to deliver a new discovery.
“Importantly, the early stage nature of the Paterson Project perfectly complements our more advanced Mt Alexander in the Goldfields region, where we continue to make more high-grade nickel-copper sulphide discoveries and are advancing mine development plans.”
