THE BOURSE WHISPERER: St George Mining has claimed to have identified a new gold trend, the Golden Dragon gold trend, at the company’s 100 per cent-owned East Laverton property in the Goldfields region of Western Australia.
The company identified the Golden Dragon after it had conducted an MMI (mobile metal ion) soil geochemical survey in 2011, which focused on an area east of the Minigwal Fault.
The St George tenements at East Laverton. Source: Company announcement
This study extended one previously conducted by the company that identified the Red Dragon gold target.
St George said the recent survey had confirmed an anomalous gold zone that extends for approximately five kilometres of strike and remains open to the north, which defines the southern end of the Golden Dragon.
The total strike length of the Golden Dragon gold trend is inferred to be approximately 15km, of which only 5km has been tested.
“The Golden Dragon trend is by far the largest and most visible gold target we have identified to date,” St George Mining technical director Tim Hronsky said in the company’s announcement to the Australian Securities Exchange.
“The prominent nature of this gold target appears to be related to a highly favourable structural setting, occurring within a lower metamorphic-grade greenstone environment, similar to the Laverton area to the east.
“We are very excited about pursuing this new gold target, which is in an area where no known gold exploration has occurred.”