St George Mining Ltd (ASX:SGQ) (FRA:S0G) has intersected prospective lithology and anomalous pathfinder elements in its maiden drilling program at Paterson Project in the Paterson Province of Western Australia.
The 18-hole drilling program has seen 3,338 metres completed to date, as part of the total 10,000-metre program.
Drilling on wide spaced traverses is testing the lithology and depth of cover across a 35-kilometre strike of prospective stratigraphy at St George’s exploration licence E45/5226.
Multiple drill holes have intersected prospective basement rocks including chalcopyrite-bearing intermediate igneous intrusives and intensely altered and gossanous sediments with these rocks being indicative of potential base metal and gold mineralisation in the project area.
XRF analysis of the basement rocks indicates elevated levels of pathfinder elements for potential base metal and gold deposits including highly anomalous bismuth, arsenic, copper, zinc, lead, molybdenum and vanadium.
A follow-up diamond drill program is planned for deeper drilling of high-priority areas of interest.
“Exceeding expectations”
St George executive chairman John Prineas said: “The initial results from the inaugural broad-spaced drill program at our Paterson Project are already exceeding our expectations.
“We are seeing geological features and lithologies which are indicative for mineral deposits in the region.
“These early observations are confirming our belief that our ground is fertile for base metal and gold mineralisation.
“Given these highly encouraging results, we are seeking to source a diamond rig to complete deeper drilling to further test these emerging high-value copper and gold targets.”
Drill holes PRC001 to PRC018 have been completed to date at an average depth of cover of between 150 metres to 180 metres.
This is similar to the cover at major deposits in the region such as Rio Tinto Limited’s (ASX:RIO) Winu and significantly less than the cover at the Havieron deposit being developed by Newcrest (ASX:NCM) and Greatland Gold PLC (LON:GGP).
A drill chip from drill hole PRC009 showing abundant sulphides on a fracture and medium grain texture of the igneous rock
All completed drill holes have penetrated the cover sequence and drilled into the underlaying interpreted bedrock or in-situ weathering profile, providing an insight into the basement lithology.
Lithological interpretation and XRF analysis have been completed on the first 10 drill holes.
Selected end of hole (EOH) chips and other interesting intervals have been sent for detailed petrological examination and classification. Laboratory assay results are still pending.
World-class mineral district
Paterson Province is one of Australia's most highly endowed mineral provinces and hosts the Nifty (2 million tonnes copper) and Telfer (27 million ounces gold) deposits.
The region remains underexplored with a number of significant copper and gold discoveries recently announced including at Rio’s Winu Project and at the Havieron Project, which is being explored in JV by Greatland and Newcrest.
These discoveries have fueled strong interest in the province from major mining companies such as Fortescue Metals (ASX:FMG), Rio Tinto, OZ Minerals Ltd (ASX:OZL) and Newcrest which have secured ground in the region including by way of attractive joint ventures with junior exploration companies.