St George Mining (ASX:SGQ) is preparing a 2500 metre reverse drilling program at its wholly-owned East Laverton Project, which is located within the Yilgarn Craton of Western Australia.
The province is world class and boasts an endowment of over 300 million ounces of gold.
Adding interest for St George are the recent large greenfields gold discoveries such as the plus 8 million gold ounce Tropicana deposit, and the plus 5 million gold ounce Gruyere deposit.
These are located near the eastern margin of the North Eastern Goldfields, where the East Laverton Project is also located.
Timing is right for St George, as the gold price in Australian Dollars continues to rally over A$1650 an ounce.
Significant results have the potential to re-rate the company.
John Prineas, executive chairman, commented:
“We are very excited to be launching a major gold drill campaign in an area that is under‐explored for gold and which is near recent major discoveries like Tropicana and Gruyere.
“Previous drilling at our project has identified widespread gold anomalism that warrants further exploration.
"Our drill targets are located in favourable structural settings that are highly prospective for gold mineralisation.
“This will be a highly anticipated drill program that has the potential to establish East Laverton as a significant gold project.”
Drilling details
Historical drilling, as well as recent nickel-focused drilling by St George, has identified widespread gold anomalism on all three main greenstone belts at the East Laverton Project.
This gold anomalism has the potential to be associated with larger gold systems, and justifies an escalation of gold exploration at East
Laverton to complement our exciting nickel sulphide projects.
A number of important gold targets have been identified at East Laverton for priority exploration.
Nickel drill program
St George is also preparing details surrounding a nickel sulphide drill program for East Laverton, using diamond drilling to test priority nickel sulphide targets.
This includes the +200,000 Siemens conductor at the Windsor nickel sulphide prospect.
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