St George Mining Ltd (ASX:SGQ) has now wrapped up an initial 1580 metre reverse circulation drilling program at the Bristol gold target, part of the wholly-owned East Laverton Project in Western Australia.
The program covered 17 holes.
Six drill holes were drilled to test the bedrock and regolith geology along a gold anomaly that extends for over 1 kilometre.
The gold anomaly is within a broad supergene horizon – typically at around 40 metres depth.
A further eleven short drill holes were completed across the prominent magnetic anomaly at Bristol to test for supergene gold mineralisation and to determine the bedrock geology.
Deeper drilling in this area will be considered subject to assay results.
The gold anomaly at Bristol was identified by shallow drilling completed in the 1990’s which intersected widespread anomalous gold (>0.5g/t) along the contact of the Bristol ultramafics/mafics with granites – a favourable setting for gold mineralisation.
New drilling at Ascalon
At the Ascalon gold target, drilling is underway in the follow‐up program of ten reverse circulation holes over 2000 metres.
The initial reconnaissance drilling by St George identified a prospective hydrothermal gold system that could potentially extend over 2 kilometres.
John Prineas, executive chairman, commented:
“The priority gold targets at East Laverton satisfy key targeting criteria for significant gold deposits – including important early fundamental structures that are first order controls on gold mineralisation.
“Our drill programs represent the first ever systematic exploration for gold at these targets and provide an opportunity for an exploration breakthrough in this highly prospective yet under-explored area.”
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.