St George Mining Ltd (ASX:SGQ) (FRA:S0G) has been granted a trading halt by the ASX pending an announcement on the release of drilling results.
The company’s securities will remain halted until the start of normal trading on Thursday, April 15, 2021, or when an announcement is released to the market.
Drilling at Mt Alexander
Drilling is ongoing at the company’s Mt Alexander Nickel-Copper Sulphide Project in the north-eastern Goldfields of Western Australia.
In addition, downhole EM (DHEM) surveys in holes MAD195 and MAD196 have identified new-off-hole electromagnetic (EM) conductors.
Three strong EM conductors were identified from MAD195 with modelled conductivity of 19,320 Siemens, 22,950 Siemens and 16,850 Siemens, respectively and three strong EM conductors were identified from MAD196 with modelled conductivity of 69,926 Siemens, 27,000 Siemens and 32,235 Siemens, respectively.
Strong magnetic anomalies
A new airborne magnetic survey recently identified a series of strong linear magnetic features on E29/1041 that may represent an intrusive unit similar to that present in the nickel-copper sulphide bearing Cathedrals Belt.
A discrete magnetic anomaly identified on E29/972 may represent an intrusive body similar to the intrusive rocks that host nickel-copper sulphides elsewhere in the Mt Alexander project area.
The company intends to drill these targets as soon as possible.