- St George Mining (SGQ) has intersected further high-grade nickel-copper sulphides at its flagship Mt Alexander Project in WA
- Hole MAD201 was drilled to a depth of 470.1 metres to test an area below high-grade nickel-copper sulphides intersected in hole MAD199
- This hole intersected 2.4 metres of nickel-copper sulphides from 434.6 metres
- Additionally, a downhole electromagnetic survey has identified three very strong off-hole conductors close to MAD201
- The conductors lie in close proximity to each other, suggesting they are associated with greater volumes of mineralisation.
- Shares in St George are up 4.94 per cent on the market this morning and are trading at 8.5 cents
St George Mining (SGQ) has intersected further high-grade nickel-copper sulphides at its flagship Mt Alexander Project.
The Mt Alexander Project lies 120 kilometres south-southwest of the Agnew Wiluna belt in Western Australia.
Hole MAD201 was drilled to a depth of 470.1 metres to test an area below high-grade nickel-copper sulphides intersected in hole MAD199.
MAD201 intersected a 16-metre-thick intrusive unit from 421.95 metres downhole and 2.4 metres of nickel-copper sulphides from 434.6 metres.
The mineralisation intersected correlated to a weak downhole electromagnetic (DHEM) conductor roughly 55 metres east from MAD201.
St George is undertaking a review of the conductor, as it can potentially be a vector to more high-grade sulphide mineralisation.
Additionally, a DHEM survey has identified three very strong off-hole conductors close to MAD201.
The conductors lie in close proximity to each other, suggesting they are associated with greater volumes of mineralisation.
“The mineralised intersection in MAD201 is an excellent result for the large step-out from the MAD199 discovery as it has identified a potential 125 metre down-plunge extent of mineralisation,” Executive Chairman John Prineas said.
“The strong EM conductors identified from the downhole EM survey in MAD2021 further support the likelihood of assertional mineralisation being present in the area,” he added.
St George is now in the process of drilling the Bulls-Eye gravity anomaly which was identified via a recent gravity survey.
Shares in St George are up 4.94 per cent on the market this morning and are trading at 8.5 cents at 10:49 am AEST.