St George Mining (ASX: SGQ) has reported further exceptional assay results – including the thickest intercept to date of high-grade mineralisation – from ongoing diamond drilling at its 100%-owned Araxá rare earths and niobium project in Minas Gerais, Brazil.
Diamond drilling is delivering exceptional high-grade intersections from surface that support a substantial increase to Araxá’s world-class Mineral Resource.
Latest assays from the extensive, ongoing drilling campaign at Araxá continue to return exceptional intersections, with a further 32 diamond drill holes at the laboratory awaiting assay results scheduled for this year.
New assay results for diamond drill holes include:
- 115.65m @ 3.34% TREO and 0.34% Nb₂O₅ from surface in AXDD016 including:
- 10m @ 6.39% TREO and 0.74% Nb₂O₅ from surface
- 7.35m @ 5.92% TREO and 0.57% Nb2O5 from 10.65m
- 2.9m @ 9.27% TREO and 0.21% Nb₂O₅ from 26.1m
- 100.1m @ 3.96% TREO and 0.40% Nb₂O₅ from surface in AXDD012 including:
- 1.3m @ 12.24% TREO and 0.96% Nb₂O₅ from 11.15m
- 14.35m @ 5.68% TREO and 0.63% Nb₂O₅ from 18m
- 13.35m @ 7.07% TREO and 0.13% Nb₂O₅ from 74m
- 79.7m @ 3.69% TREO and 0.40% Nb₂O₅ from surface in AXDD013 including:
- 19.7m @ 6.45% TREO and 0.54% Nb₂O₅ from surface
- 5m @ 7.92% TREO and 0.57% Nb₂O₅ from 11m
The new results highlight the extensive continuity of high-grade mineralisation over very broad intervals from surface, which supports a potential substantial increase in the overall Mineral Resource Estimate – already world class with 40.6Mt @ 4.13% TREO – the largest and highest-grade carbonatite-hosted REE resource in South America and second-highest grade REE resource in the Western world.
Thick high-grade zones are confirmed in areas previously modeled in the Inferred category, supporting the potential for a significant conversion of Inferred resources to the higher confidence Indicated category.
High-grade mineralisation is open in all directions, including at depth. Expansion drilling continues 24/7 with an additional 25 holes scheduled to be completed in 2025 and extend drilling into 2026.
“The Araxá Project is delivering exactly what we set out to achieve – consistent, high-grade results that expand the project’s scale and strengthen our confidence in what already is an exceptional, world-class Mineral Resource Estimate (MRE),” executive chairman John Prineas said.
“Drilling continues to deliver an extension of high-grade mineralisation to the west of the MRE footprint to demonstrate that the mineral system is open and extends beyond previously defined limits. We are excited about the pending results from further drilling completed in this area to the west of the MRE.
“Equally noteworthy is the remarkable consistency of mineralisation in holes AXDD012, 013 and 016, where high grades were confirmed over intervals of more than 100 metres.
“Results like these are highly significant because they provide confidence to upgrade Inferred resources to the Indicated category. Importantly, they also highlight the potential to increase both the total tonnage and overall grade of the MRE as thick high-grade zones are confirmed in areas previously modelled with lower confidence or more conservative grades.
“Together, these outcomes are laying a very solid foundation for our expectations to upgrade the JORC resource at Araxá and deliver significant positive outcomes from upcoming economic studies which will define the pathway for development of the project.
“Drilling at Araxá continues 24/7 while we also wait for a large volume of assays to be returned. We look forward to keeping shareholders updated over coming weeks as we advance our work at Araxá.”
