St George to Acquire Nickel West's Stake in Mt Alexander Project

St George Mining Ltd. (ASX:SGQ) announced that it’s entered into a binding agreement under which it will acquire BHP Billiton Nickel West Pty Ltd.’s entire 75-percent stake in the Western Australia-based Mt Alexander project.
Highlights include:

• High grade nickel‐copper sulphides already discovered including 4m @ 4.9%Ni, 1.7%Cu and 3.9g/t total PGEs from 91.4m
• Outstanding low‐risk exploration project in a world class nickel region of Western Australia
• An additional core asset in St George’s burgeoning WA project portfolio
• Project to continue as a Joint Venture between Western Areas (25% interest) and St George (75% interest) as Manager
• Western Areas Limited to become a shareholder in St George following an agreement with St George not to exercise its pre‐emptive rights over Mt Alexander
• Drilling programme planned by St George in 2016

John Prineas, executive chairman at St George Mining, commented:

In October, we acquired 100% of the Hawaii and Mt Alexander North Projects from BHP Billiton. Today we can announce that we have the final piece in the puzzle – the core Mt Alexander tenement with its high‐ grade nickel‐copper sulphide discovery.
St George now has an unprecedented opportunity to unlock the potential of this Project and to realise its tremendous value.
Mt Alexander is a compelling addition to our portfolio of projects and very complementary to our 100% owned East Laverton Project where we are continuing to explore priority nickel sulphide and gold targets.
This milestone acquisition has re‐enforced St George’s credentials as a high quality explorer with an enviable portfolio of projects that provide multiple opportunities for a significant discovery.

Click here to read the full St George Mining Ltd. (ASX:SGQ) press release.