THE BOURSE WHISPERER: St George Mining (ASX: SGQ) has received good news from an ongoing technical review of the company’s Mt Alexander project, located south‐southwest of the Agnew‐Wiluna belt in Western Australia.
According to the company, the review – being conducted by St George’s technical team in conjunction with global nickel expert Dr Martin Gole – has endorsed the potential of the Mt Alexander project for the discovery of economic nickel sulphide mineralisation.
St George’s technical team had previously identified untested EM conductors in the Cathedrals Shear Zone, which it considers to be outstanding targets for the discovery of further nickel‐copper sulphide mineralisation.
The company said the latest findings by Dr Gole have highlighted the prospectivity of the underexplored Western Ultramafics in the Mt Alexander Greenstone belt, and the potential of the broader project area to host economic nickel sulphide mineralisation.
An evaluation of historical exploration results at the project has also been undertaken, which has recognised the ultramafics with massive nickel‐copper sulphides at Cathedrals are likely to have been part of the Western Ultramafics sequence.
The company is of the opinion that this association, together with the numerous occurrences of nickel‐copper sulphides identified in the Western Ultramafics by wide‐spaced historic drilling, support the potential for the discovery of economic nickel‐copper sulphides within the Western Ultramafics.
“The results of the Technical Review are very favourable and, with drilling to start very soon, provide further reassurance that the EM conductors to be tested will result in exploration success,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.
“The finding of enhanced nickel sulphide prospectivity for the broader Mt Alexander project area is also very important, and supports the potential of Mt Alexander to develop into a new nickel mineral field.”