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St George Mining (ASX:SGQ) has heralded several “exceptional” assay results from its diamond drilling run at the Araxá rare earths and niobium project in Minas Gerais, in what will be a nice CY26 surprise for shareholders.
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“It’s drill, drill, drill at Araxá,” said St George’s chairman, John Prineas, while unveiling the latest thick, high-grade mineralisation from the Brazilian site.
These latest Araxá results were led by a clear standout: 128.6 metres grading 4.87% total rare earth oxides and 0.85% niobium pentoxide. In this interval from drill hole AXDD027, the last 11.6 metres returned 5.61% TREO – enough to suggest the uncovered mineralisation runs all the way to the end of the hole.
St George believes the consistency of high-grade mineralisation from surface across multiple drill holes supports the possibility for growth beyond the current MRE, which was modelled on a shallower depth closer to 100 metres.
“We’re focused on expanding the resource and defining an even more impressive world-class resource of high-grade rare earths and niobium,” Mr Prineas said.
“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,” he continued. “Together with the new mineralisation discovered beyond previously defined limits, the drilling is transforming the scale of the resource estimate and further positioning St George as one of the leaders in the rare earths and niobium sectors.”
Drilling continues – just like St George’s boss said, “drill, drill, drill” – near-continuously at the Brazilian project, with three diamond rigs running. Another 28 holes are awaiting lab assays, too; results are due later this week.
Mr Prineas said: “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.”
SGQ, now at 10.3cps, has been up as much as +5% today.
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