ASX-listed explorer, St George Mining, has reported significant massive sulphide mineralisation intersected in diamond drill core at its Investigators prospect, located within the company’s flagship Mt Alexander Project, near Leonora in W.A.
St George this week reported the preliminary results from the completion of two holes designed to extend known mineralisation and test highly conductive electromagnetic, or “EM” plates at depth.
After drilling into virgin ground, the first diamond drill hole intersected a 27m wide ultramafic unit that included a solid 8m wide zone of visible nickel and copper sulphide mineralisation. The massive sulphides had average portable XRF readings of 6.3% nickel and 2.7% copper for 1.13m from 190m down-hole.
The second diamond hole snagged an 11m wide zone of nickel-copper sulphides with average XRF readings of an impressive 7.6% nickel and 2.9% copper over 1.12 metres from 195.84m down-hole. If these grades come even close to holding up after lab analysis, then it would seem that St George might be onto something interesting here.
The company is now awaiting the laboratory results to confirm the preliminary XRF analyses.
St George Mining Executive Chairman, John Prineas, said: “With substantial areas of the EM anomaly yet to be drilled (at Investigators), we are excited at the potential to discover more high-grade mineralisation at this prospect.”
The Investigators prospect appears to be the largest target at the company’s Mt Alexander project and extends for at least 1.5km along the Cathedrals Belt.
The company routinely conducts down-hole EM surveys that measure the electrically chargeable physical properties of the surrounding rocks and potential sulphide mineralisation.
Down-hole EM has the capability of detecting the presence of dense ore minerals such as chalcopyrite – which is copper iron sulphide.
These new drill holes at Investigators were planned to target “off-hole” EM conductors and represent a large step-out from the identified mineralisation, according to the company.
St George will be waiting in anticipation of the confirmatory drilling assays and plans to keep the rods turning aggressively at its Mt Alexander Project for the foreseeable future.
A diamond rig is currently completing a third hole at Investigators, testing a new EM plate and an RC rig is churning away at other highly-ranked regional targets.
Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au
By Matt Birney
