St George Mining Drills East Laverton Gold Targets
THE DRILL SERGEANT: St George Mining (ASX: SGQ) is undertaking a reconnaissance gold drill program at the company’s 100 per cent-owned East Laverton project in Western Australia.
St George Mining said the drill program is testing hydrothermal gold targets that include established gold prospects as well as new targets that were generated by a comprehensive review completed by external expert Dr Walter Witt earlier this year.
These targets are part of a portfolio of gold targets across the extensive greenstone belts within the 2,000 square kilometre East Laverton project.
St George reported that the drilling has demonstrated extensive hydrothermal alteration across the East Laverton project area, which the company believes is indicative of the presence of a larger hydrothermal cell, consistent with the fundamental structures that appear to also control the earlier nickel sulphide mineralisation within the project area.
A number of drill holes encountered widespread hydrothermal alteration, late felsic porphyry intrusives and dolerites, and sulphide mineralisation.
St George considers the presence of large hydrothermal systems to be encouraging for the potential of gold mineralisation.
“The gold drill program has identified a large hydrothermal system at East Laverton, and assays received to date have already confirmed zones of significant gold anomalism at Cambridge and Cambridge North,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.
“Assays for the remaining targets are pending.”
St George declared the Phase 1 of its 2017 gold drill program has now concluded with a total of 115 RC drill holes completed.
The final targets drilled in the program were at Desert Dragon, Green Dragon and Athena.
“These targets have strong gold prospectivity recognised from soil surveys and shallow drilling,” Prineas continued.
“The current drill program will assess if this gold anomalism is associated with primary gold mineralisation.”
Email: info@stgm.com.au
Website: www.stgm.com.au