St George Mining (ASX:SGQ) has received financial support in its hunt for a multi‐million ounce gold deposit at its wholly-owned East Laverton Project in Western Australia.
The North Eastern Goldfields have recently yielded discoveries such as Tropicana's plus-8 million gold ounces, and Gruyere's plus-5 million gold ounces.
St George’s East Laverton is also situated within this highly prospective but under-explored area.
Taking a broader view, the Yilgarn Craton has an endowment of over 300 million gold ounces and is truly a world class gold province.
Funding awarded
St George has been awarded a drilling grant under the “Innovative Drilling Program” provided by the West Australian Government’s Exploration Incentive Scheme (EIS).
The grant can be applied to drilling at new Ascalon gold prospect, which will be scheduled for early 2016 as part of a major gold-focused drilling program.
John Prineas, executive chairman, commented:
“The support of the Western Australian Government is recognition of the innovative exploration work we are undertaking and the significant gold potential in the under-explored East Laverton area.
“The company appreciates the support from the Western Australian Government and the Geological Survey of Western Australia in continuing our exploration at this strategically important prospect.”
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