- St George Mining (SGQ) discovers a second target at the Mt Alexander project in WA’s northeastern Goldfields region
- The company recently completed the first-ever seismic survey the project has seen, which generated the first target announced at the start of the month
- The newest target is located in the Transits Belt, which sits north and parallel to the highly mineralised Cathedral’s Belt
- St George says the target may lead to the potential discovery of a nickel-copper-platinum group element deposit and will be tested via diamond drilling early next year
- Company shares have been trading up 3.23 per cent at 6.4 cents
St George Mining (SGQ) has found another target for nickel-copper sulphides through seismic survey data.
The company recently completed the first-ever seismic survey at its flagship Mt Alexander project, which is located in Western Australia’s northeastern Goldfields region.
The newest target, which has been named “S2”, is located in an underexplored intrusive structure known as the Transits Belt which is to the north and parallel to the Cathedral’s Belt. S2 has a dip extent of more than 400 metres, commencing from 350 metres below surface.
Based on previous shallow drilling, which intersected ultramafics in the Transits Belt, SGQ believes the structure may potentially host high-grade mineralisation similar to the Cathedral’s Belt.
According to the company, S2’s seismic properties are consistent with those of the first target, being S2, which was identified at the start of the month.
St George considers the target to be a high priority for the potential discovery of a large scale nickel-copper-platinum group element deposit and will be drilled in a diamond program scheduled for late January.
Executive Chairman John Prineas commented on the results.
“S2 – the new, large target identified in the Transits Belt – has the same seismic properties as S1 in the Cathedrals Belt and just like S1 is interpreted to be a target for massive nickel-copper sulphides,” he said.
“We are very excited to have two robust targets lined up for immediate drilling in our 2022 diamond drill program.”
Company shares were up 3.23 per cent to trade at 6.4 cents at 11:38 am AEDT.