Growth‐focused Western Australian nickel company St George Mining Limited (ASX: SGQ) has announced that exploration programs have generated new, high priority nickel-copper sulphide targets at the Mt Alexander Project, located in the north-eastern Goldfields.
Growth‐focused Western Australian nickel company St George Mining Limited (ASX: SGQ) has announced that exploration programs have generated new, high priority nickel-copper sulphide targets at the Mt Alexander Project, located in the north-eastern Goldfields.
HIGHLIGHTS
· Soil survey at the Fish Hook Prospect identifies a strong nickel-copper anomaly:
· Laboratory assays of soil samples at the Fish Hook Prospect have returned highly anomalous values for nickel, copper and platinum group elements (PGEs)
· Assay values for Fish Hook significantly exceed assay values for a comparable soil survey at the Investigators Prospect where extensive high-grade nickel-copper sulphides have been intersected by drilling
· Fish Hook covers an 8,000m eastern extension of the highly mineralised Cathedrals Belt, is largely untested by drilling and lies within a tenement 100% owned by St George
· Extensive EM surveys underway at the Cathedrals Belt:
· EM programme commenced this week across an 8,000m strike of the Cathedrals Belt stretching from the West End Prospect to the Bullets Prospect
· Optimised EM surveys will be used to maximise the detection of potential mineralisation in areas of conductive cover
· High-powered EM survey to cover the northern section of the Cathedrals Belt which is interpreted to be prospective for down-plunge extensions of mineralisation
St George’s tenure at Mt Alexander hosts a 16km long structural corridor known as the Cathedrals Belt. To date, drilling has focused on an outcropping 4.5km section of this east-west oriented belt. Significant discoveries of high-grade nickel-copper sulphides have already been made here – at the Investigators, Stricklands and Cathedrals Prospects.
The remainder of the Cathedrals Belt lies under cover, is largely undrilled and offers excellent opportunities to discover additional nickel-copper sulphide mineralisation.
FISH HOOK – SOIL SURVEY CONFIRMS PROSPECTIVITY FOR NICKEL-COPPER SULPHIDES
The Fish Hook Prospect occurs within the interpreted 8,000m eastern extension of the Cathedrals Belt, and is located within Exploration Licence 29/954 which is 100% owned by St George.
A soil survey was carried out at Fish Hook over a number of prospective magnetic features to test whether geochemical sampling could detect the presence of ultramafic rocks and/or nickel-copper sulphides through the thin cover sequence.
If confirmed, this would support the prospectivity of Fish Hook to host mineralised ultramafics similar to those where high-grade mineralisation has already been discovered in the Cathedrals Belt. Four north-south lines were completed in the Fish Hook area as well as two lines at the Bullets Prospect.
An orientation soil survey was also completed at the Investigators Prospect, comprising two north-south lines adjacent to the MAD60 Drill Line where numerous intersections of high-grade nickel-copper sulphides have already been made.
The cover conditions at Fish Hook and Investigators are interpreted to be similar, with a thin sequence of aeolian sands and clays overlying a variably weathered basement. Soil samples for both surveys were taken at 20m intervals using a 180micron mesh sieve.
John Prineas, St George Mining Executive Chairman said: “The results from the initial soil survey at Fish Hook are remarkable and support the potential for nickelcopper sulphides at depth. “
The fact that these high value results were returned from an orientation survey is highly encouraging and shows that nickel-copper mineralisation could potentially be widespread along the entire Cathedrals Belt.
“We are also excited to have commenced a new and optimised EM programme on the western section of the Cathedrals Belt, which we believe is likely to generate more EM targets for drilling.”
