St George Mining Ltd (ASX:SGQ) has commenced a major diamond drill program targeting nickel-copper sulphides at the Mt Alexander Project in Western Australia.
The drill targets are located along a 4.5 kilometre strike length of the Cathedrals Belt and include targets at each of the Cathedrals Prospect, the Stricklands Prospect and the Investigators Prospect.
It is worth noting that previous drilling at these prospects intersected massive sulphides with high grade nickel-copper-cobalt-PGE (platinum-group metals) mineralisation.
The new drilling will also test exploration targets in areas which have never been drilled.
This will include the Investigators West Prospect, located in the western extension of the Cathedrals Belt and a new electromagnetic conductor located south of the Cathedrals Belt.
St George’s new drill program comprises fifteen drill holes for over 2,300 metres of drilling.
Further drill holes may be planned after the review of drilling results and downhole electromagnetic surveys in completed drill holes.
John Prineas, executive chairman, commented: “Our ongoing drilling success at Mt Alexander has confirmed a high grade mineral system with nickel-copper-cobalt-PGE sulphides recurring over a strike length of 3.5 kilometres.
“The current drill programme is further testing the extent of this mineralisation and also testing unexplored areas with strong potential for new discoveries.”
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St George is also exploring the East Laverton Project, positioned near the Tropicana deposit which hosts +8 million gold ounces and the Gruyere deposit which has +6 million gold ounces.
A second drill rig will be mobilised soon to the East Laverton Project for drilling at the Windsor nickel sulphide prospect.
The growth in electric vehicle battery manufacture is forecast to increase nickel demand by 300,000 to 900,000 tonnes of nickel per year by 2025.
St George’s shares were trading 8.7% higher intra-day, at $0.125.