St George Mining Ltd (ASX:SGQ) has received promising results from the first drill hole completed in the new extension and infill drill program underway at its flagship high-grade nickel-copper-PGE Mt Alexander Project in the northern Goldfields.
MAD209 was completed by diamond drilling to test an electromagnetic (EM) conductor (9,825 Siemens) at Stricklands.
The drill hole intersected 5.2 metres of nickel-copper sulphide mineralisation from 112.9 metres downhole and has confirmed the continuity of mineralisation about 35 metres to the north-west of the existing mineralised envelope for the Stricklands Deposit.
The success of MAD209 bodes well for the potential of the current extension and infill drill program to deliver a significant expansion of the known near-surface, high-grade nickel-copper-PGE mineralisation along the Cathedrals Belt.
Dual-track approach
St George Mining executive chairman John Prineas said: “Our exploration strategy at Mt Alexander has a dual-track approach.
“Firstly, we aim to increase the known areas of shallow, high-grade nickel-copper sulphides. Secondly, we will test several large, high-priority conceptual targets areas that have potential for a new discovery.
“The shallow deposits along the Cathedrals Belt are open and further drilling offers an excellent opportunity to add more tonnes to a potential mining inventory at a low cost.
“All metallurgical testwork completed on these ore bodies has confirmed the ability to produce separate nickel and copper concentrates at high-grades and quality that will be attractive to end-users.
“This underscores St George’s strategy to expand the mineralised envelope for these deposits as we continue to assess potential development scenarios.
Plan view map (against magnetics) with schematic diagram of the Stricklands and Investigators East mineralised envelope.
Prineas added: “We are also excited by the second limb of our exploration strategy – to test the new targets that could deliver a large-scale discovery at the Project as we announced in our ASX release on 29 March 2022.
“The shallow, high-grade discoveries already made in the Cathedrals Belt are proof of a fertile, high-grade mineral system. The extensive strike of the discoveries – over more than 5km along the Cathedrals Belt – supports the case for further significant mineralisation to be present at depth or along strike.
“We are determined to create substantial shareholder value through these compelling opportunities at the high-grade Mt Alexander Project.”
Current drilling at Mt Alexander
The extensional drilling is continuing with the diamond drill rig currently drilling MAD210 to test another strong EM conductor (22,500 Siemens) at Stricklands.
Further drilling for the extension and infill strategy for the known near-surface mineralisation will be announced shortly.
Diamond drilling in progress at Mt Alexander.
The drilling of the seismic targets has been deferred until the completion of further seismic lines at Mt Alexander.
In addition to the extension and infill drill programme discussed above, further drilling is planned for the June and September quarters for the initial drill testing of the large, conceptual targets recently generated.