Drilling Focused On High-Priority Copper And Gold Targets
St George Mining Limited (ASX: SGQ) has commenced drilling at its Paterson Project, located within the highly prospective Paterson region of Western Australia.
Executive Chairman,John Prineas, said the Paterson Project is an early stage opportunity with significant exploration upside for copper and gold deposits. It complements the company’s flagship Mt Alexander nickel-copper sulphide project, where St George is continuing to expand the footprint of high-grade nickel-copper sulphide mineralisation and advance towards a potential mine development.
The major RC drill programme has commenced at E45/5226, one of two Exploration Licences that make up St George’s 100%-owned Paterson Project.
The maiden drill programme at the Paterson Project will comprise approximately 10,000m of RC drilling and will focus on characterising the stratigraphy and testing high-priority targets that have been assessed by our technical team as potentially prospective for copper and gold.
“We are delighted to be on the ground at the Paterson Project and commencing our inaugural drill programme at this exciting exploration opportunity,” Mr Prineas said.
“The Paterson region is one of Australia’s most active exploration frontiers on the back of multiple major discoveries made over the past few years including Winu and Havieron. The Paterson is regarded as ‘elephant country’ and continues to attract significant investment from the major mining companies.
“Our technical team has worked methodically to establish a number of high-priority exploration targets. These have never been drilled and offer St George an excellent opportunity to deliver a new discovery.
“Importantly, the early stage nature of the Paterson Project perfectly complements our more advanced Mt Alexander in the Goldfields region, where we continue to make more high-grade nickel-copper sulphide discoveries and are advancing mine development plans.”
St George completed a high-resolution gravity and airborne magnetic survey during 2020 at E45/5226 to evaluate the structure and stratigraphic setting at the tenement. The new gravity and magnetic data has identified prominent geophysical features that are interpreted to be similar to those known to host major precious and base metals discoveries in the Paterson region.
The cover at E45/5226 is interpreted to be between 100m to 200m, which in relative terms is much less than in other areas of the Paterson and potentially enables St George to expedite exploration drilling and at a lower cost.
There is no outcrop at the Paterson Project, with targeting relying on geophysics and geological interpretation to discover blind deposits.
The current drill programme is expected to take eight weeks to complete, with approximately 50 holes to be drilled.
