St George Mining (ASX: SGQ) has reported further exceptional assay results from ongoing diamond drilling at its 100%-owned Araxá rare earths and niobium project in Minas Gerais, Brazil.
An intercept of 128.6m @ 4.87% TREO from surface – with the last 11.6m @ 5.61% TREO – leads the latest batch of exceptional assays, further building the case for a substantial increase to Araxá’s world-class Mineral Resource Estimate (MRE).
New assay results for diamond drill holes include:
- 128.6m @ 4.87% TREO and 0.85% Nb₂O₅ from surface in AXDD027 including:
- 31.25m @ 6.09% TREO and 0.76% Nb₂O₅ from 44m
- 100.6m @ 4.25% TREO and 0.73% Nb₂O₅ from surface in AXDD021 including:
- 19.6m @ 8.16% TREO and 1.39% Nb₂O₅ from surface
- 20m @ 5.94% TREO and 0.91% Nb₂O₅ from 39m
- 81.1m @ 5.33% TREO and 0.78% Nb₂O₅ from surface in AXDD032 including:
- 15.65m @ 6.58% TREO and 0.87% Nb₂O₅ from 6.2m
- 23m @ 6.59% TREO and 1.08% Nb₂O₅ from 36m
- 81.3m @ 4.81% TREO and 0.48% Nb₂O₅ from surface in AXDD035 including:
- 13.95m @ 6.99% TREO and 0.41% Nb₂O₅ from 18.3m
- 10.6m @ 7.86% TREO and 0.50% Nb₂O₅ from 68.4m
Diamond drilling continues to confirm extensive continuity of high-grade rare earths and niobium over very broad intervals, indicating strong potential for a substantial increase in the overall MRE at Araxá currently modelled from surface to a depth of only 100m.
Mineralisation is open in all directions including at depth – with most drill holes ending in high-grade mineralisation – highlighting the expansion potential of the world-class MRE of 40.6Mt @ 4.13% TREO – the largest and highest-grade carbonatite-hosted REE deposit in South America and second highest grade in the Western world.
Outstanding niobium grades as high as 3.57% Nb₂O₅ (AXDD027) within very broad intervals of high-grade mineralisation from surface underscore the setting of the Araxá project in the world’s premier niobium mining location.
Drilling continues 24/7 with three diamond core rigs. In addition, 28 diamond drill holes are at the laboratory awaiting assays, with next batch of results expected later this week.
“It’s drill, drill, drill at Araxá,” St George executive chairman John Prineas said.
“We are focused on expanding the resource and defining an even more impressive world-class resource of high-grade rare earths and niobium.
“The latest assay results continue to demonstrate the untapped potential at Araxá with even more high-grade mineralisation being uncovered.
“The consistency of the results is very impressive. Together with the new mineralisation discovered beyond previously defined limits, the drilling is transforming the scale of the MRE and further positioning St George as one of the leaders in the rare earths and niobium sectors.
“With a world-class resource already confirmed and a location in an established mining region with existing infrastructure and supportive community stakeholders, the Araxá project stands out amongst its peers as having potential for an expedited pathway to development.”
