- St George Mining has announced high-grade nickel-copper sulphides at a newly discovered prospect at Mt Alexander
- Executive Chairman John Prineas has stated results have been encouraging and confirm the potential for a significant mining operation
- Diamond drilling at the Radar Prospect will continue this week
- Additionally, ecologists have been appointed to conduct flora and fauna studies for future mining plans
- St George Mining’s share price is unchanged today, trading at 17 cents apiece
St George Mining has announced laboratory assays have confirmed a significant intersection of high-grade nickel-copper sulphides at the Mt Alexander Project.
Drilling was conducted at the Radar Prospect which is the company’s latest discovery.
It is located 1.2 kilometres east of the known nickel-copper sulphide deposits at the Cathedrals Prospect and extends the east-west strike of high-grade mineralisation on the Cathedrals Belt.
Assay results at the discovery hole include: 2.55 metres at 4.29 per cent nickel, 1.46 copper and 3 grams per tonne of platinum group elements from 49.05 metres.
“With high-grade mineralisation now established over a 5.5 kilometre strike of the east-west oriented Cathedrals Belt, we are increasingly confident of the potential to develop a potential mining operation at the project,” Executive Chairman John Prineas said.
John has also disclosed plans to drill the remaining 10.5 kilometres of the Cathedrals Belt which is largely under-explored.
“Exploration success here could add substantial volumes of mineralisation to a potential resource at Mt Alexander,” he continued.
Diamond drilling at Radar will resume later this week. Holes are planned to test both up-dip and down-dip from the significant intersection in discovery hole MAD152.
Additionally, St George has appointed Western Botanical and Bamford Consulting Ecologists to complete flora and fauna baseline studies at Mt Alexander. Works will commence next week.
The data will be used to prepare an environmental impact assessment that can support a potential mine development at the project.
The company is confident exploration at the Mt Alexander nickel-copper-cobalt-PGE project will return favourable economics as the nickel price has increased over recent months.
St George Mining’s share price is unchanged today, trading at 17 cents apiece as at 12:24 pm AEST.