St George Mining Executive Chairman John Prineas talked with Proactive about new drilling results from the Araxá project that confirm thick, high-grade rare earths and niobium mineralisation from surface.
Prineas highlighted a standout intercept of 128 metres grading over 4% TREO from surface, which he described as “a real confirmation that we’ve got a very thick high-grade system starting from surface.” He said the company expects more similar results as drilling progresses.
Alongside rare earths, a significant new zone of high-grade niobium has been uncovered. The step-out hole, located 400 metres outside the existing mineral resource area, returned 80 metres at 1.2% Nb₂O₅, with grades peaking at 7%. Prineas stressed that the mineralisation starts from surface, presenting substantial commercial advantages including low strip ratios and reduced mining costs.
The drilling campaign at Araxá continues aggressively with three diamond rigs operating 24/7, and 29 holes currently at the lab awaiting assay results. Prineas also noted that drilling is underway at the East Africa zone, with results expected soon.
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