- St George Mining (SGQ) has ushered in a new era at its wholly owned Paterson Project with the start of an inaugural drilling program
- Located in the Paterson Province of Western Australia, the project consists of two exploration licenses — E45/5226 and E45/5422
- The program is expected to take eight weeks to complete and will include around 10,000 metres of reverse circulation drilling across 50 holes
- These holes will focus on testing high-priority targets that were identified during a gravity and airborne magnetic survey last year
- St George Mining is up 1.22 per cent to 8.3 cents per share at 10.50 am AEST
St George Mining (SGQ) has ushered in a new era at its wholly owned Paterson Project with the start of an inaugural drilling program.
Located in the prolific Paterson Province of Western Australia, the project consists of two exploration licenses — E45/5226 and E45/5422 — and is surrounded by a number of significant copper and gold discoveries as well as land owned by the likes of Fortescue Metals, Rio Tinto, OZ Minerals and Newcrest Mining.
The program is expected to take eight weeks to complete, and will include around 10,000 metres of reverse circulation drilling across 50 holes.
These holes will focus on testing high-priority targets that were identified during a gravity and airborne magnetic survey last year, and which showed prominent geophysical features similar to those that host other precious and base metals discoveries in the region.
The cover at the site is interpreted to be between 100 and 200 metres, which St George says is much less than other areas of Paterson Province and potentially allows the company to expedite the drilling work at a lower cost.
“Our technical team has worked methodically to establish a number of high-priority exploration targets,” Executive Chairman John Prineas said.
“These have never been drilled and offer St George an excellent opportunity to deliver a new discovery.”
Mr Prineas also noted that the early-stage nature of the Paterson Project “perfectly complements” St George’s more advanced Mt Alexander Project in the Goldfields region, where mine development plans continue to progress.
St George Mining shares were up 1.22 per cent to 8.3 cents apiece at 10:50 am AEST.