- Western Australian nickel company St George Mining (SGQ) has discovered high-grade nickel–copper sulphides at its Mt Alexander Project in WA
- Hole MAD199 has been drilled to a depth of 378.8 metres to test electromagnetic conductor MAD195_p1
- Pleasingly, St George intersected a 10.96-metre interval of nickel–copper sulphides from a depth of 333.6 metres
- This intersection is the deepest high-grade mineralisation identified to date
- Hole MAD200 is now in progress and has been planned to a depth of 600 metres to test a moving-loop EM anomaly roughly 500 metres west of MAD199
- Shares in St George have skyrocketed 48.7 per cent on the back of this news and are trading at 11 cents
Western Australian nickel company St George Mining (SGQ) has discovered high-grade nickel-copper sulphides at its Mt Alexander Project.
The Mt Alexander Project lies 120 kilometres south-southwest of the Agnew Wiluna belt in Western Australia. This belt hosts multiple world-class nickel deposits.
Hole MAD199 has been drilled to a depth of 378.8 metres to test electromagnetic (EM) conductor MAD195_p1.
This conductor measures 12 metres in length and a depth of 45 metres.
Pleasingly, St George intersected a 10.96-metre interval of nickel-copper sulphides from a depth of 333.6 metres, confirming the high-grade nature of the conductor.
This intersection is the deepest high-grade mineralisation identified to date.
A further two EM conductors which neighbour MAD195_p1 are also believed to have a massive sulphide source.
“We are delighted to have made another high-grade discovery with MAD199 and believe there is excellent potential to discover further high-grade mineralisation in other underexplored areas,” Executive Chairman John Prineas commented.
“MAD199 has delivered an outstanding intersection of nickel-copper sulphides that may be indicating the presence of a large accumulation of mineralisation,” he said.
Hole MAD200 is now in progress and has been planned to a depth of 600 metres to test a moving-loop EM anomaly roughly 500 metres west of MAD199.
Additionally, a downhole EM survey crew has arrived on site to completed surveys across holes MAD199, MAD197 and MAD198.
Shares in St George have skyrocketed 48.7 per cent on the back of this news and are trading at 11 cents at 10:33 am AEST.