St George Mining encounters encouraging gold hits at East Laverton

THE DRILL SERGEANT: St George Mining (ASX: SGQ) has been encouraged by recent positive results it received from gold exploration at the company’s 100 per cent-owned East Laverton project in Western Australia.

St George recently completed drill hole OXRFC003 at the Oxford prospect, which ended in anomalous mineralisation to a depth of 306 metres downhole.

This was the first deep drill hole St George has completed in this area, which is situated on the southern portion of the Minigwal greenstone belt, and to the immediate northwest of the company’s designated high-priority Ascalon gold target.

According to St George, hole OXFRC003 encountered the base of the weathered profile at 42m downhole, and then intersected a series of structurally‐controlled alteration zones with variably anomalous levels of gold and copper mineralisation.

The alteration zones are present over a healthy portion of the drill hole, with anomalous gold and copper values present between 135m and the end of the hole at 306m.

St George has interpreted the gold and copper mineralisation encountered in OXRFC003 to be associated with epigenetic vein‐style mineralisation of the type commonly associated with Orogenic gold deposits.

The company considers it to be an important finding as this mineralised zone is completely open towards the high-priority Ascalon gold target, approximately 1,000m to the southeast along the Minigwal greenstone belt.

“The significant widths of anomalous mineralisation and alteration in OXFRC003 represent a signature typically encountered on the periphery of a large gold system,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.

“This is very encouraging as it appears to be linked to the Ascalon gold prospect to the immediate southeast, and further validates the potential for this target.

“The first ever drilling at Ascalon will commence in a few weeks.”

Website: www.stgm.com.au