St George Mining Scores Riveting Results From Mt Alexander Geophysical Survey

THE DRILL SERGEANT: St George Mining (ASX: SGQ) has identified a number of new targets that have potential to host mineralised ultramafics at the company’s Mt Alexander project in Western Australia.

St George Mining said the targets had been identified via high resolution magnetic data generated by a recent airborne magnetic survey.

The most important finding from the new data is that the Cathedrals Belt may continue to the east for a further eight kilometres of strike.

The eastern extension of the Belt is within a newly-granted Exploration Licence E29/954, owned 100 per cent by St George.

The company explained this tenement has never been explored, adding that a preliminary review of the data from the SAMSON EM survey over the western part of the Cathedrals Belt suggests a number of new EM anomalies have been detected providing a new exploration opportunity.

St George said the data is being modelled and interpreted by Newexco, and a further announcement will be made once final results are available.

With the performance of the SAMSON survey to date, St George has made a decision to continue the EM survey over the recently identified eastern extension of the Cathedrals Belt, commencing this week and expected to be completed in two weeks.

This will be the first ever EM survey completed over the eastern extension of the Cathedrals Belt.

“The results of the aeromagnetic survey are exactly what we were hoping for – particularly in regard to the extension of the Cathedrals Belt to the east,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.

“Our exploration to date has confirmed that this Belt is highly mineralised and is amenable to EM targeting.

“The case for immediately extending the SAMSON EM survey to the east is very compelling.

“The new aeromagnetic survey has also identified a number of other structures parallel to the Cathedrals Belt which may host further mineralised ultramafics. We expect these to emerge as high priority targets which could multiply the value of our project.”

Website: www.stgm.com.au