St George Mining ready to drill nickel-copper sulphide targets at Mt Alexander
The drilling will follow up high-grade intersections and test underexplored areas within the prospective Mt Alexander tenure.
Company
ASX:SGQ
St George Mining Ltd is focused on developing critical minerals projects in Brazil and Western Australia. In Brazil, the company has entered into a binding agreement to acquire the high-grade niobium-REE Araxa Project in Minas Gerais. In Western Australia, St George is progressing a portfolio of quality exploration and development projects that are focused on critical metals for the clean energy future.
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The drilling will follow up high-grade intersections and test underexplored areas within the prospective Mt Alexander tenure.
Surveys have identified multiple strong electromagnetic conductors along the Cathedrals Belt.
The company hopes to establish a nickel development on Cathedrals Belt, an exploration area it majority owns.
The stockbroker sees 2019 as an important year for St George as it increases its activities with a strong focus on moving towards potential nickel development.
The latest drilling has expanded the envelope of nickel-copper sulphide mineralisation within the Cathedrals Belt.
Lab assays have confirmed the preliminary results of high-grade nickel-copper sulphides.
Dave O’Neill, familiar with the project, has also been appointed exploration manager.
This is the thickest massive nickel-copper sulphide intersection to date at Investigators.
Shares in the company surged as high as 28% to 16 cents in early trading this morning.
The demand for nickel from the electric vehicle battery industry is rising faster than expected.
The project is on a licence which manager St George has in a 75%-owned joint venture with minority partner Western Areas.
The company is addressing UK investors this week and Australian nickel market players later this month.
Electromagnetic conductors are a known signature for sulphide mineralisation.
Significant increase to the footprint of mineralisation at the Investigators prospect.
Portable XRF gun analysis has revealed grades averaging 7% nickel and 5.5% copper.
The Mt Alexander project hosts three prospects - Cathedrals, Stricklands and Investigators.
Phase II drilling is expected to commence this weekend at the prospect area.
Preliminary results from recent drilling at Investigators supports depth expansion potential.
The drop-off in discoveries of more than 500,000 tonnes was experienced despite a 114.5% increase in exploration expenditure between the two periods.
Battery minerals plays will talk outlooks, prospects and struggles as they front Diggers audiences this week at the presenters’ podium.