St George Mining drills high-grade nickel copper sulphides at Investigators
Drilling is testing EM conductor targets based on recent downhole EM surveys.
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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Drilling is testing EM conductor targets based on recent downhole EM surveys.
The first phase of the new program is testing five new EM conductors at the Investigators prospect.
Drilling is expected to recommence in 1-2 weeks time.
Drilling continues at the Mt Alexander Project in Western Australia.
The Mt Alexander project hosts the Stricklands, Investigators and Cathedrals prospects.
New high-grade intersections identified in the west, north and east of the prospect area.
Four high-quality electromagnetic targets ready to be drilled at Investigators.
The company's shares are trading 12.5% higher intra-day, at 14 cents.
Drilling continues to hit nickel-copper sulphides across the 4.5-kilometre strike of the Cathedrals Belt.
The company has entered an agreement to purchase Nomad Explorations, the owner of the projects.
Preliminary results from hole MAD95 support an emerging mineralised system at Stricklands.
Preliminary XRF analysis shows grades of 4.75% nickel and 1.5% copper.
The Stricklands prospect within the Mt Alexander Project is an emerging discovery.
2.72-metres of nickel-copper sulphides with average readings of 5% nickel and 1.5% copper.
The company recently secured $4 million through a share placement to fund drilling.
The $4 million placement attracted strong support from institutional and sophisticated investors.
The company recently raised $4 million through an oversubscribed share placement.
MAD71 intersected 17.45 metres at 3.01% nickel, 1.31% copper and 0.13% cobalt.
The company's securities will be placed a trading halt as a capital raising is undertaken.
The planned program of 2,510 metres will follow-up successes from 2017 drilling.