Western Australian nickel company St George Mining Limited (ASX: SGQ) has obtained excellent results from the first drill hole completed in the new extension and infill drill programme underway at its flagship high-grade nickel-copper-PGE Mt Alexander Project, located in the northern Goldfields in Western Australia.
Hole MAD209 was completed by diamond drilling to test an EM conductor (9,825 Siemens) at Stricklands. The drill hole intersected 5.2m of nickel-copper sulphide mineralisation from 112.9m downhole and has confirmed the continuity of mineralisation approximately 35m to the north-west of the existing mineralised envelope for the Stricklands Deposit.
Executive Chairman, John Prineas, said the success of MAD209 bodes well for the potential of the current extension and infill drill programme to deliver a significant expansion of the known near-surface, high-grade nickel-copper-PGE mineralisation along the Cathedrals Belt.
“Our exploration strategy at Mt Alexander has a dual-track approach. Firstly, we aim to increase the known areas of shallow, high-grade nickel-copper sulphides. Secondly, we will test several large, high-priority conceptual targets areas that have potential for a new discovery,” Mr Prineas said.
“The shallow deposits along the Cathedrals Belt are open and further drilling offers an excellent opportunity to add more tonnes to a potential mining inventory at a low cost.
“All metallurgical testwork completed on these ore bodies has confirmed the ability to produce separate nickel and copper concentrates at high-grades and quality that will be attractive to end-users.
“This underscores St George’s strategy to expand the mineralised envelope for these deposits as we continue to assess potential development scenarios.
“We are also excited by the second limb of our exploration strategy – to test the new targets that could deliver a large-scale discovery at the Project as we announced in our ASX release on 29 March 2022.
“The shallow, high-grade discoveries already made in the Cathedrals Belt are proof of a fertile, high-grade mineral system. The extensive strike of the discoveries – over more than 5km along the Cathedrals Belt – supports the case for further significant mineralisation to be present at depth or along strike. “
We are determined to create substantial shareholder value through these compelling opportunities at the high-grade Mt Alexander Project.”
For further information please visit: https://stgm.com.au/
