St George Mining Limited
ASX:SGQ
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St George Mining Limited is a mining exploration company focused on creating shareholder value through the discovery of world class deposits. Our flagship asset is the 100% owned East Laverton Property in the North-Eastern Goldfields region of Western Australia that covers an area that is prospective for nickel sulphide, metal and gold deposits.
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Flash Note –
St. George Mining Limited (ASX: SGQ)
Ongoing Exploration Success at Mt Alexander and East Laverton
- Drilling at the Cathedrals and Stricklands prospects at Mt Alexander intersects massive Ni-Cu sulphides associated with EM anomalies
- Drilling imminent over similar EM anomalies at the adjacent undrilled Investigators prospect
- Drilling at the Ascalon gold prospect at the East Laverton Project has intersected broad zones of alteration that are commonly associated with gold mineralisation in the Laverton area – assays are awaited
July 6, 2016
EVENTS
- Recent drilling by St George at the core tenement of Mt. Alexander (E29/638, SGQ 75%, WSA 25%) has intersected massive nickel-copper sulphides in most
holes:
- Drilling has targeted EM anomalies at the Cathedrals and Stricklands prospects, located within the Cathedrals Belt, with 11 holes for1411m
being drilled
- High grade nickel-copper intersected at Cathedrals (previously drilled by BHP Billiton Nickel West (“Nickel West”)), with intersections including
1.17m @ 8.75% Ni, 3.3% Cu, 0.24% Co, and 6.16g/t total PGE’s from 30.17m in hole MAD15, in a broader zone of 4.05M @ 3.16% Ni, 1.37% Cu,
0.09% Co and 3.08g/t total PGE’s from 27.5m
- Intersections at the previously undrilled Stricklands prospect, some 750m west along strike from Cathedrals have included 2.78m @ 1.62% Ni, 2.51%
Cu, 0.07% Cu and 1.88g/t total PGE’s from 41.9m in hole MAD22
- Hole MAD20 at Stricklands intersected 7.9m of ultramafic-hosted sulphide mineralisation, ranging from disseminated sulphides at the top to massive
sulphides at the bottom - amineralised sequence typical to that found in a number of world-class nickel deposits in the Yilgarn of Western
Australia.
- All EM anomalies tested are associated with mineralisation, validating the targeting method, with all intersections in fresh rock at shallow depths
from 30m
- Down hole EM (“DHEM”) carried out subsequent to the drilling has delineated a number of new EM anomalies that require drilling.
- Drilling is expected to commence at Mt Alexander on July 8:
- The previously unexplored Investigators prospect is located at the western end of the Cathedrals Belt, some 2km west of Cathedrals
- Ground EM surveying by St. George has identified three discrete priority anomalies similar in character to those at Cathedrals and Stricklands,
including one with an exceptionally high 47,000 Siemens response (much higher than nearby conductors)
- MLEM surveying has also identified a number of anomalies in the Transits prospect (formerly “New Target Area”) within the St George 100% held
E29/548 to the north of the Cathedrals Belt.
- Broad scale alteration has been intersected in drilling at the Ascalon gold prospect at the East Laverton Project:
- A fence of five RC holes has intersected broad areas of silica alteration and quartz/carbonate veining, similar to alteration commonly associated
with gold mineralisation in the Laverton area
- Assays are awaited for this drilling over the previously undrilled prospect, however nearby shallow aircore drilling has intersected gold at the
bottom of hole
- Drilling now to test a 1km long aircore gold anomaly at the nearby Bristol prospect.
BREAKAWAY COMMENTS
The recent work by St. George at Mt Alexander has been very successful, and has highlighted the prospectivity of the property for komatiite-style nickel-copper
sulphide mineralisation. The drilling has returned very encouraging results, with multiple intersections of the target style mineralisation at
the two prospects tested. The new Stricklands discovery is the first “in-situ” komatiite mineralisation intersected at Mt Alexander, with nickel-copper
sulphides at Cathedrals interpreted as being remobilised due to the intrusion of the granites into the greenstone sequence.
This work has also highlighted the suitability of EM as an exploration tool, with the discrete anomalies in the 2km long Cathedrals Belt drilled to
date all related to massive sulphides. This bodes well for additional discoveries in the upcoming Investigators drilling and follow-up drilling
of DHEM targets at Cathedrals and Stricklands.The DHEM anomalies defined by the Company point towards along strike and down plunge extensions to
the mineralisation intersected thus far.
In addition to the east-northeast trending ultramafics in the Cathedrals Belt, there are extensive underexplored ultramafic sequences to the south.
These trend north-northwest and occur over a strike length of 7km in E29/638, with wide spaced historic drilling intersecting massive nickel sulphides
and channel flow rocks. This, along with the widespread presence of massive sulphides in the Cathedrals Belt, demonstrates the prospectivity of
the Project for significant nickel-copper sulphide discoveries...
Download the flash note for more information.
More details about St George Mining Limited
Official website: http://stgm.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/SGQ
Markets:
Gold, Nickel
