St George Mining Ltd (ASX:SGQ) has revealed that high-grade massive nickel-copper sulphide mineralisation has been intersected at the Mt Alexander Project in Western Australia.
Shares are expected to trade higher at the open of trade.
Massive nickel-copper sulphides were discovered at a shallow depth of 30 metres below the surface.
Three diamond holes have been drilled and two EM conductors have been tested at the Cathedrals Prospect so far in the current drill program.
Both of the EM conductors have been confirmed as nickel-copper sulphide mineralisation.
John Prineas, executive chairman, commented: “Our maiden drilling program has commenced successfully with two new discoveries of nickel-copper sulphide mineralisation in the two EM conductors tested so far.
“With multiple EM conductors still to drill, the potential for more discoveries is high.
We are also very excited by the new EM targets identified at the Investigators area – especially Anomaly 2 which, with its extreme conductivity, is a standout target for massive nickel-copper sulphides.
“The multiple occurrences of massive nickel-copper sulphide mineralisation across the project suggest strong potential for further significant discoveries.”
Drilling of high priority EM conductors at Cathedrals and Stricklands is continuing.
Mt Alexander Project is located 120 kilometres south-southwest of the Agnew-Wiluna belt which hosts numerous world class nickel deposits.
Drilling details
Drill holes MAD15 (100 metres depth) and MAD16 (120 metres depth) have been completed by St George, and diamond core drilling was completed from surface to the end of hole in both cases.
MAD15 intersected 9 metres of sulphide mineralisation from 22.4 metres, which included 2.17 metres of heavy disseminated and stringer sulphides, and 1.17 metres of massive nickel-copper sulphides.
The nickel values of the massive sulphide range from 6.7% nickel to 10.9% nickel and average 8.9% nickel.
Copper values in the massive sulphide range from 1.24% copper to 5.85% copper and average 3.2% copper.
St George said that these metal values are based on XRF analysis at 10cm spaced readings.
MAD16 intersected 9.5 metres of sulphide mineralisation from 51.7 metres, including 2.25 metres of moderate-heavy disseminated and blebby sulphides with multiple massive sulphide stringers.
The stringer and blebby sulphides have nickel and copper values up to 10-15% nickel and 10-15% copper, based on XRF analysis.
Results from these drill holes provide added confidence that the remaining EM conductors.
All three completed diamond holes have been cased with PVC-piping to allow for downhole EM surveys.
These surveys will investigate the potential for extensions to the massive sulphide mineralisation around the holes.
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.