THE DRILL SERGEANT: St George Mining (ASX: SGQ) has carried out an airborne magnetic survey over the company’s Paterson project, located within the Paterson Province of Western Australia.
St George Mining completed the survey in March with the aim of evaluating the structure and stratigraphic setting and identifying focus areas for further exploration.
The company has interpreted the high-resolution magnetic data from the survey to identify prominent magnetic features, which it has deemed to represent key stratigraphic units and granitic intrusions similar to what hosts other precious metals and base metals discoveries in the region.
“The results from the aeromagnetic survey have exceeded our expectations with multiple areas of interest identified across the 35 kilometres strike of prospective stratigraphy on our exploration ground,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.
“We have begun planning for the 2020 drill program and applied for the Western Australian Government’s Exploration Incentive Scheme (EIS), which provides co-funding for exploration drilling up to a prescribed capped amount.
“Our Paterson project is shaping up as an outstanding opportunity to make a greenfields discovery.
“We are excited to be progressing exploration at the Paterson while we continue our principal exploration and development activities at our flagship Mt Alexander nickel-copper sulphide project.”