- St George Mining (SGQ) has entered a trading halt for the purpose of considering, planning and executing a capital raise
- The company will remain in the halt until May 3 or when an announcement is released, whichever occurs first
- On April 27, St George completed a high-resolution ground gravity survey at its Mt Alexander Project in WA
- The survey was undertaken at the West End and Investigators prospects and multiple gravity highs were recorded
- The data supports the prospectivity of the area for nickel-copper sulphides and St George will undertake follow up drilling in due course
- Shares in St George last traded at 9.5 cents on April 26
St George Mining (SGQ) has entered a trading halt for the purpose of considering, planning and executing a capital raise.
The company will remain in the halt until May 3 or when an announcement with more details is released, whichever occurs first.
St George is yet to disclose how much it intends to raise or what it will use the funds for.
On April 27, St George completed a high-resolution ground gravity survey at its Mt Alexander Project in Western Australia.
The survey was undertaken at the West End and Investigators prospects and multiple gravity highs were recorded.
The data supports the prospectivity of the area for nickel-copper sulphides and it builds on the initial discovery of nickel-copper sulphides made a few weeks ago.
One of the holes intersected a 10.96-metre-thick interval of nickel-copper sulphide from 333.6 metres, the deepest occurrence of sulphides identified to date.
This is pleasing as it indicates mineralisation continues at depth.
Step-out drilling has been planned to test the extent of the mineralisation with work set to begin in due course.
Shares in St George last traded at 9.5 cents on April 26. The company has a $47.83 million market cap.