St George Mining (ASX: SGQ) today reported strong progress from the maiden diamond drilling program at the company’s 100% owned Paterson project in the Paterson Province, WA.
HIGHLIGHTS
- Maiden diamond drilling program at the Paterson project is in full swing with a further three drill holes completed
- Initial geological observations of the drill core for all three holes indicate locally intense alteration and hydrothermal veining with multiple zones of sulphides
- Visual copper sulphide and local quartz veining logged in all three holes
- Lithologies intersected in all three drill holes appear consistent with those known to host major copper-gold deposits in the Paterson Province
The program is testing priority structural targets to assess the potential to host large copper-gold systems. Significantly, the lithologies intersected to date are the same as those known to host major copper-gold deposits elsewhere within the Paterson Province.
Geological observations of the drill core from the three latest drill holes indicate locally intense alteration and hydrothermal veining with multiple zones of sulphides. Visual copper sulphide and local quartz veining has been logged in all three holes.
An important element of the drilling is to confirm host lithologies as well as deliver evidence of hydrothermal/mineralising processes. Three drill holes – PDD003, PDD004 and PDD005 – have been completed since the ASX Release dated 23 June 2022 Exploration Update for St George Mining.
Lithologies intersected in the latest drill holes are similar to those intersected in the first two diamond drill holes of the programme – PDD001 and PDD002.
These include meta-sediments that are considered part of the Yeneena Group sequence, cut by numerous interpreted mafic and felsic intrusions. Strong alteration with local sulphide accumulations occur in proximity to the interpreted structures and intrusions.
St George Mining’s executive chairman John Prineas said,
“Our maiden diamond drill programme at Paterson is progressing strongly, with five holes now completed and all delivering indications that our systematic exploration strategy is heading in the right direction.
“Considering the very widely spaced drilling that is being undertaken in this programme, early geological observations of the drill core are very encouraging.
“There is locally intense alteration and brecciation with evidence of pervasive hydrothermal fluids. Widespread intervals of disseminated sulphides are noted in the drill core including visible chalcopyrite (copper sulphide) which is awaiting confirmation by assaying.
“These are great looking rocks to host the styles of mineralisation we are targeting.
“Drilling is continuing, and we look forward to reporting further drill results including laboratory assays in the coming weeks.”
