THE DRILL SERGEANT: St George Mining (ASX: SGQ) gave the market something to get excited about with the announcement of the intersection of high-grade massive nickel-copper sulphide mineralisation at the company’s Mt Alexander project in Western Australia.
St George has drilled three diamond holes testing two EM conductors at the Cathedrals prospect.
According to the company both EM conductors have been confirmed as nickel-copper sulphide mineralisation.
Drill holes MAD15 and MAD16 have been completed to a downhole depth of 100m and 120m, respectively with diamond core drilling completed from surface to the end of hole in both cases.
MAD15 intersected approximately 9 metres of sulphide mineralisation from 22.4m to 31.34m.
This intersection includes 2.17m of heavy disseminated and stringer sulphides from 28m to 30.17m, and 1.17m of massive nickel-copper sulphides between 30.17 to 31.34m.
The nickel values of the massive sulphide range from 6.7 per cent nickel to 10.9 per cent nickel and average 8.9 per cent nickel.
Copper values in the massive sulphide range from 1.24 per cent copper to 5.85 per cent copper and average 3.2 per cent copper.
The company highlighted that these metal values are based on XRF analysis at 10 centimetre spaced readings.
MAD16 intersected approximately 9.5m of sulphide mineralisation from 51.7m to 61.25m.
This intersection includes 2.25m of moderate-heavy disseminated and blebby sulphides with multiple massive sulphide stringers from 59m.
The stringer and blebby sulphides have nickel and copper values up to 10 to 15 per cent nickel and 10 to 15 per cent copper.
These results were are also based on XRF analysis.
St George believes the intersection of nickel-copper sulphide mineralisation in MAD15 and MAD16 confirms the presence of a high-grade mineral system within the Cathedrals Shear Zone at Mt Alexander.
Drill hole MAD14 was completed to a depth of 101.3m and was designed to intersect two EM conductors modelled at 39m and 61m respectively downhole, however the was no conductive material in the drill core to explain the EM conductors.
A DHEM survey will be completed in this hole and a new drill hole will be designed to test any conductors.
Drilling is currently underway at MAD17, which will test an EM conductor modelled at a downhole depth of 167m.
“Our maiden drilling program has commenced successfully with two new discoveries of nickel-copper sulphide mineralisation in the two EM conductors tested so far,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.
“With multiple EM conductors still to drill, the potential for more discoveries is high.
‘We are also very excited by the new EM targets identified at the Investigators area – especially Anomaly 2 which, with its extreme conductivity, is a standout target for massive nickel-copper sulphides.
“The multiple occurrences of massive nickel-copper sulphide mineralisation across the project suggest strong potential for further significant discoveries.”
St George also let it be known that it has increased the project area at Mt Alexander with the addition of two new tenements.
Exploration Licence E29/962, comprising 3 sub-blocks has been granted by the WA Department of Mines and Petroleum.
Exploration Licence E29/972, comprising 32 sub-blocks in the north of the project area, is in the application stage and expected to be granted later this year.
The two new tenements are owned 100 per cent by St George.