- St George Mining (SGQ) launches maiden drilling at its Ajana project in Western Australia
- Drilling is underway at the project, with 17 holes planned for around 3000 metres
- The company is testing two large-scale targets, which both lie adjacent to major structures
- The company believes the target’s features may be indicative of late-stage, potentially layered mafic intrusions which are prospective to host significant nickel-copper-platinum group elements
- St George Mining closed 7.5 per cent higher, trading at 4.3 cents at market close
St George Mining (SGQ) has launched a maiden drilling program at its Ajana project in Western Australia.
Drilling is underway at the project, with 17 holes planned for around 3000 metres.
The company is testing two large-scale targets, which both lie adjacent to major structures.
SGQ reported that both appear to be co-incident magnetic and gravity anomalies that are interpreted to be mafic intrusions with the potential to be associated with “significant” nickel-copper-platinum group element (PGE) mineralisation.
The first target is a 25-kilometre-long magnetic anomaly with structural features that support the interpretation of a layered mafic intrusion.
The second, which spans two kilometres, has a “plug-like” feature that is also interpreted to be a late-stage mafic intrusion.
“St George completed its own high-resolution magnetic survey at Ajana followed by detailed gravity surveys over two priority targets – the results of which strongly enhanced our initial interpretation that the large magnetic features may be indicative of late-stage, potentially layered mafic intrusions which are prospective to host significant nickel-copper-PGEs,” SGQ Executive Chair John Prineas said.
“We believe that Ajana is an outstanding greenfields exploration opportunity and are excited to be on the ground drilling two very attractive targets.”
St George Mining closed 7.5 per cent higher, trading at 4.3 cents at market close.