- St George Mining (SGQ) has made solid progress over the September quarter as it continues exploration at two key projects
- The company has had considerable early exploration success at its Mt Alexander nickel-copper project and its Paterson copper-gold project
- Deep diamond drilling at Mt Alexander is continuing to reveal promising intrusive structures across more than 4 kilometres of strike
- A scoping study is underway for a potential starter mine at the polymetallic Stricklands prospect
- Airborne surveys across the Paterson project have identified several targets similar to others known to host major discoveries in the region
- With over $6.3 million in the bank, the company is well positioned to continue exploration across its key holdings
- St George Mining is trading 3.70 per cent higher at 14 cents
St George Mining (SGQ) has made solid progress across the September quarter as it continues exploration at two key projects.
The company has enjoyed considerable exploration success at its Mt Alexander nickel-copper project and has taken significant early strides at its Paterson copper-gold project.
Mt Alexander
St George has been conducting deep diamond drilling across more than four kilometres of strike east-west along the Cathedrals Belt.
The area contains nickel-copper sulphide intrusives across the strike length and remains open to the east and west.
A number of thick intercepts will be further explored as exploration continues.
Significant electromagnetic conductors have also been identified, which will be probed further with subsequent drilling. The presence of the conductors — the deepest found so far — would confirm the continuity of the high-grade mineralisation at depth and upgrade the western extension of the Cathedrals Belt.
The company has made progress on its scoping study for a potential starter mine at the polymetallic Stricklands prospect.
Testwork is being conducted to find the best methods to exploit the nickel, copper, cobalt and platinum group element mineralisation present there to value-add to the prospect’s potential.
Metallurgical testwork at the Investigators prospect is also continuing apace, with largely positive results.
Paterson project
St George has two granted exploration licences in the highly sought-after Paterson province, encompassing around 445 square kilometres of prospective tenure.
The region has already had interest from some large mining companies including Rio Tinto and Newcrest. Junior explorers have also had some success entering into lucrative farm-in deals for prospective tenements.
St George completed a high-resolution gravity and airborne magnetic survey across one of its licences and identified a number of targets similar to others which are known to host major discoveries in the region.
A drill campaign has been designed to test the key areas and high priority targets at the project, and a programme of works has been approved by the Department of Mining.
A heritage survey is scheduled for completion ahead of any drilling in early 2021.
Outlook
With over $6.3 million in the bank, the company is well positioned to continue exploration across its key holdings.
At current spending levels, St George has over three quarters of funding available.
St George Mining is up 3.70 per cent to 14 cents at 1:53pm AEDT.