St George Mining Ltd. (ASX:SGQ) announced the discovery of further massive nickel-copper sulfides at the Investigators prospect, located at its Mt Alexander project in Western Australia. The company is currently conducting a drill program at the project.
As quoted in the press release:
- Three more electromagnetic (EM) conductors successfully tested returning high grade massive nickel-copper sulphides with average grades of 7%Ni and 2.3%Cu (based on field XRF analysis)
- Potential to further extend the known mineralisation in the Cathedrals Belt with at least another 14 planned drill holes
- Downhole EM (DHEM) surveys are underway on the completed drill holes to investigate for extensions to mineralisation and to define conductive sources
- Moving loop EM (MLEM) survey over the western extension of the Cathedrals Belt has identified anomalous EM responses proximal to the Ida Fault
- Argonaut appointed as financial adviser to St George in regard to strategic opportunities to maximise value of the Mt Alexander Project
John Prineas, executive chairman of St George, commented:
The discovery of further high grade nickel-copper sulphide mineralisation at Investigators confirms the potential to significantly expand the known mineralisation at this prospect, where mineralisation has already been shown to be present recurrently over a strike length of 1.3km.
We are very excited by this early success and the potential for more discoveries over the next few weeks.