St George Mining to drill deeper after indications of nickel sulphide 500 metres downhole
Drilling at the Windsor prospect is aiming to confirm sulphide mineralisation at depth.
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 at the Windsor prospect is aiming to confirm sulphide mineralisation at depth.
The one for 20 bonus issue of new options will coincide with Mt Alexander drill results.
Shares in the company have doubled over the past three months to $0.24.
Prineas flagged the potential development of a high margin low-cost mining operation.
The mineralisation at the Cathedrals Prospect continues to impress with high grades.
Drilling for 2017 has now concluded and will resume early in the New Year.
St George has traded $4 million worth of shares by noon.
The assays from MAD71 confirm the best ever intersection at the Mt Alexander Project.
The company’s shares were up 4% to $0.26 in early afternoon trade.
Drilling has extended the footprint of the mineralised ultramafic at Stricklands.
The Stricklands prospect is within the Mt Alexander Project in Western Australia.
To follow-up on recent significant magmatic nickel-copper sulphide intersections.
The halt will remain in place until Monday 20th November 2017.
Spot readings averaged 8% nickel and 3% copper at the Cathedrals Prospect.
The drill program will test three large electromagnetic conductors.
New conductors are proximal to the sulphide mineralisation intersected in previous drilling.
The growth in electric vehicle battery manufacture is forecast to boost nickel demand.
St George has multiple projects in the mineral-rich Yilgarn Craton.
St George is preparing to conduct an electromagnetic survey at the East Laverton Project.
The survey will cover an area comprising 3 kilometres strike length of the Cathedrals Belt.