- St George Mining (SGQ) completes another three holes at its wholly-owned Paterson Project in the East Pilbara region of Western Australia
- The company had embarked on its maiden diamond drill program at the project to test priority structural targets to assess the potential to host large copper-gold systems
- Executive Chairman John Prineas says all delivering indications show the company’s systematic exploration strategy is heading in the right direction
- As diamond drilling continues, the company believes that the understanding of the local geology and prospectivity of this untested area is rapidly increasing with each hole
- Shares in St George Mining are up 6.06 per cent, trading at 3.5 cents as of 3:35 pm AEST
St George Mining (SGQ) has completed another three holes at its wholly-owned Paterson project in the East Pilbara region of Western Australia.
The company had embarked on its maiden diamond drill program at the project to test priority structural targets to assess the potential to host large copper-gold systems.
One of the important elements of the drilling is to confirm host lithologies as well as deliver evidence of hydrothermal and mineralising processes.
The three drill holes, PDD003, PDD004 and PDD005, showed similar lithologies intersected in the first two drill holes which are known to host major copper-gold deposits elsewhere within the Paterson province.
Executive Chairman John Prineas said all delivering indications show the company’s systematic exploration strategy is heading in the right direction.
“Considering the very widely spaced drilling that is being undertaken in this programme, early geological observations of the drill core are very encouraging,” he said.
“These are great looking rocks to host the styles of mineralisation we are targeting.
“Drilling is continuing, and we look forward to reporting further drill results including laboratory assays in the coming weeks.”
As diamond drilling continues, the company believes that the understanding of the local geology and prospectivity of this untested area is rapidly increasing with each hole completed.
The identification of breccia zones with associated hydrothermal alteration and sulphides is highly encouraging for an early-stage drill programme.
Further, confirmation by PDD005 of favourable lithology in this area provides strong encouragement for the remaining drill holes to be completed in the northern area.
Laboratory assays from Bureau Veritas in Perth are expected within six to eight weeks and are required to confirm the presence of metal content in the drill core.
Shares in St George Mining were up 6.06 per cent, trading at 3.5 cents as of 3:34 pm AEST.