St George Mining Makes High-Grade REE Discovery at Destiny

THE DRILL SERGEANT: St George Mining (ASX: SGQ) has made a clay-hosted REE system discovery at the company’s 100 per cent-owned Destiny project in the Eastern Goldfields region of Western Australia.

St George Ming acquired the Destiny project, originally called Woolgangie, earlier this year and in September commenced on-the-ground exploration activities.

The discovery came via recent drilling activity that intersected thick zones of high-grade Total Rare Earth Oxide (TREO) – up to 42m thick that has been shown to be hosted in a thick, near-surface clay zone confirmed by drilling over a 7km-long strike with mineralisation open in all directions.

Assay results include:

WGAC0001
8m at 1,673ppm TREO, 342ppm magnetic rare earth oxide (MREO) from 24m;

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30m at 1,885ppm TREO, 399ppm MREO from 20m, including 6m at 3,578ppm TREO, 755ppm MREO from 32m, and including 2m at 5,125ppm TREO, 1,199ppm MREO from 32m;

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42m at 1,832ppm TREO, 351ppm MREO from 12m, including 14m at 2,622ppm TREO, 515ppm MREO from 38m; and

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29m at 1,042ppm TREO, 200ppm MREO from 14m.

“These are ground-breaking results for the company in our first-ever drill program at the Destiny project, with high-grade rare earths confirmed along a seven kilometres-long strike of the Ida Fault,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“The high grades returned in the assays are very exciting.

“Together with the scale of the prospective geology – which may extend for more than 70 kilometres – the potential of the project is impressive.

“Importantly, the assays show a high proportion of sought-after magnetic rare earths – a feature that could be a huge value driver for the project.

“The flat-lying nature of the REE mineralisation and the host clay zone allow for a fairly simple follow-up exploration program of drilling along strike as well as infill drilling.

“We want to be back drilling at Destiny early in 2024 to unlock the full potential of this exciting REE discovery.

“The REE project is complementary to our lithium and nickel assets, enhancing St George’s position as a high-impact explorer of multiple battery metals in the Tier 1 jurisdiction of Western Australia.

“The Destiny project covers 3,350 square kilometres and takes in more than 90 kilometres of the Ida fault – a regional scale crustal shear zone that is gaining increased interest as a control on major mineral deposits in Western Australia.

“We are excited to control more than 90 kilometres of the Ida Fault at our Destiny project – and another 30 kilometres strike at our Mt Alexander project – with advanced targets for lithium, rare earths, nickel and copper.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE