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    SGQ reports more solid nickel and copper results from Mt Alexander project

    St George Mining Limited (ASX: SGQ) has announced further strong results at its flagship Mt Alexander Project, located in the north-eastern Goldfields in WA.

    The company reported that 14m thick zone of nickel-copper sulphides was intersected down-plunge at the Stricklands Prospect from 78m downhole in hole MARC128, which delivered XRF readings of 3.5% Ni and 1.2% Cu.

    SGQ noted that the high-grade intersection is 100m down-plunge of the previous exceptional intersection in MAD71 and significantly increases the down-plunge strike mineralisation at Stricklands. The company reported that the mineralisation remains open at Stricklands in the north-west direction and at depth.

    SGQ announced the use of DHEM surveys concurrently with drilling continues to deliver successful results with several new EM conductors identified by ongoing DHEM surveys.

    The company said that at the Radar Prospect, DHEM survey indicates that the drill hole intersected the northern portion of the conductor with an extension of the conductor to the south-west. Meanwhile the DHEM surveys at the Investigators Prospect have identified strong off-hole EM conductors that have been prioritised for immediate drilling.

    The company said that the exploration activities in full-swing with two rigs and EM survey crew at site. SGQ reported that the RC drill rig is at site and is focusing on drilling shallow EM conductors and platform holes for further DHEM surveys.

    Mt Alexander

    The Mt Alexander Project is located 120km south-southwest of the Agnew-Wiluna belt which hosts numerous world class nickel deposits.

    The project is comprised of five granted Exploration Licences, E29/638, E29/548, E29/954, E29/962, and E29/972.

    The project contains advanced prospects like Investigators (MAD60), Stricklands (MAD71), and Cathedrals (MAD56), which are located on E29/638.  

    Mt Alexander has two stand-out EM anomalies named Radar and Bullets prospects. Other unexplored areas in Mt Alexander project includes the West End and Fish Hook prospects located on the western and eastern extensions of the Belt.

    The company had recently commenced drilling program at Mt Alexander targeting nickel-copper sulphides.  

    Excellent results from Stricklands prospect

    At the Stricklands Prospect, hole MARC128 tested an EM conductor that is modelled with conductivity of 10,000 Siemens and a strike length of 30m; while hole MAD154 is being drilled by diamond drilling to a planned downhole depth of 450m.

    Hole MARC128

    The company reported that the hole MARC128 was completed by RC drilling to a downhole depth of 166m and intersected 14m thick zone of nickel-copper sulphide mineralisation between 78m and 92m downhole including intervals of massive and semi-massive nickel-copper sulphides with average XRF readings of 3.5%Ni and 1.2%Cu.

    The mineralised ultramafic unit at Stricklands is interpreted from drilling to dip towards the north-west with potential for additional sulphide mineralisation at depth.

    SGQ reported that MARC128 has now confirmed the north-west continuation of these ultramafic units containing high-grade nickel-copper sulphides. The mineralisation remains open to the north-west and at depth.

    The company noted that the high-grade intersection in MARC128 is 100m down-plunge of the previous exceptional intersection in MAD71 of 17.45m @ 3.01%Ni, 1.31%Cu, 0.13%Co and 1.68g/t total PGEs from 37.45m and significantly increases the down-plunge strike mineralisation at Stricklands.

    Hole MAD154

    The company reported that hole MAD154 is being drilled towards the south and underneath the known shallow mineralisation of MAD71 at Stricklands. SGQ said that the hole has intersected several thick mafic and ultramafic units with abundant sulphides – including pyrhottite (po), pyrite (py) and chalcopyrite (cp) but not pentlandite (pn).

    These mafic and ultramafic units are interpreted to dip to the north-west, consistent with the geological interpretation for the stratigraphy at Stricklands, and dissect the north-south trending Mt Alexander greenstone sequence.

    Ongoing DHEM surveys identifies new EM conductors

    The company reported that the use of Downhole electromagnetic (DHEM) surveys concurrently with drilling continues to deliver successful results with several new EM conductors identified by ongoing DHEM surveys.

    Investigators prospect

    The company reported that DHEM surveys carried out in the recently completed drill holes at Investigators have confirmed strong offhole EM anomalies that are untested by drilling.

    SGQ said that the DHEM surveys in MAD144, MAD145 and MAD147 at the Investigators Prospect identify strong off-hole EM conductors that have been prioritised for immediate drilling.

    Several of the new EM conductors are located more than 50m from known mineralisation, and represent large step-out targets that have the potential to significantly extend the footprint of mineralisation at Investigators.

    Radar prospect

    The company announced that DHEM survey has been completed in MAD152, the discovery hole for the Radar Prospect.

    SGQ said that DHEM survey has confirmed a strong in-hole EM anomaly consistent with the massive sulphide mineralisation intersected by MAD152.

    However, MAD152 has intersected only the northern margin of the conductor with increased strike and conductivity of the conductor to the south-west. Modelling of the EM data is being finalised.

    Soil survey at Fish Hook prospect

    The company announced that a comprehensive soil survey has been completed across the 8km strike of the Fish Hook Prospect, targeting the interpreted ultramafic sequence and to follow-up the very strong nickel-copper soil anomaly identified by the trial soil survey completed last month.

    Assay results are expected within 4 weeks. Once received, the company is planning to design a MLEM survey to search for conductive targets that may represent sulphide mineralisation.

    Drilling update

    The company announced that RC rig arrived at site this week, and commenced drilling shallow stratigraphic holes and shallow EM conductors. The RC holes were designed to test the prospective mineralised trend as mapped by the SAM survey data, and to provide a platform for DHEM surveys.

    Cathedrals Prospect

    The hole MAD153 was designed to test the area underneath the shallow mineralisation at the Cathedrals Prospect, and to provide a platform for DHEM surveys.

    MAD153 was completed by diamond drilling to 450m downhole, and was drilled towards the south. MAD153 intersected three ultramafic sequences – between 128m to 130.3m, 246.08m to 247.8m and 319.3m to 320.8m.

    The company said that a DHEM survey will be completed in MAD153 to search for any conductive mineralisation around the hole.

    West End prospect

    Drill holes MARC123 and MARC127 were completed by RC drilling at the West End Prospect.

    Investigators prospect

    MARC124, MARC125, and MARC126 were completed by RC drilling at the Investigators Prospect.

    Next steps

    The company announced that further exploration will be planned based on ongoing drill results, geophysical surveys, and geological assessment of prospectivity.

    The company said that a DHEM survey will be completed in MARC128 to identify extensions of mineralisation around the hole and to plan follow-up drilling, and in MAD154 to search for any conductive mineralisation around the hole, including below the hole.

    SGQ said that drill holes have been designed to test new EM targets at Investigators prospect, with the planned holes utilising the existing drill pads. Drilling of these holes using the diamond rig is expected to commence this week. Meanwhile, follow-up drilling is being planned for Radar with new drill pads and earthworks being prioritised so that drilling can re-commence at Radar as soon as practicable.

    Management comments

    St George Mining’s Executive Chairman John Prineas said: “The mineralised intersection in MARC128 is outstanding as it confirms a significant down-plunge extension of the thick, high-grade mineralisation we first saw at Stricklands in MAD71.

    The thickness of the cumulative ultramafic and the volume of nickel-copper sulphides intersected at Stricklands by multiple drill holes supports the potential of additional significant mineralisation being intersected along this strike of the Cathedrals mineralised trend.

    The down-plunge area is largely untested by drilling and we are increasingly confident that further discoveries of nickel-copper sulphides will be made in this area.”

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    • Delayed Prices (USD) - Last Updated 29-06-2022
    • Gold $1,819.40
    • Silver $20.79
    • Platinum $909.00
    • Palladium $1,802.00
    • Dalian Iron Ore i2209 $121.88
    • Aluminium $2,495.50
    • Cobalt $72,400.00
    • Copper $8,417.50
    • Lead $2,003.50
    • Nickel $22,882.00
    • Tin $26,991.00
    • Zinc $3,318.00