ASX listed nickel hopeful St George Mining has reported more highly encouraging down-hole electromagnetic surveying results from its Investigators prospect, part of the larger Mt Alexander project, near Leonora in WA.
After running an electromagnetic surveying tool into an existing drill hole that may have missed its target, St George said it had discovered some very strong conductors lurking in the vicinity that the company believes are consistent with a massive nickel-copper sulphide source.
Geophysical interpretation of DHEM data from two deep drill holes show strong off-hole conductors, providing a high level of confidence in the quality of data being returned at the prospect.
The new conductors are located down-plunge of a previously intersected mineralised ultramafic rock sequence and may indicate the potential for a significant extension to the narrow, but high-grade mineralisation located at Investigators.
Diamond drilling of the new conductors will commence shortly and DHEM surveys of other recently completed drill holes is ongoing.
St George Mining Executive Chairman John Prineas said: “The DHEM surveys at Investigators are lighting up powerful conductors that are excellent targets for locating additional high-grade massive nickel-copper sulphide mineralisation.”
“The new DHEM data has provided a breakthrough with modelling of the data indicating three strong conductors … and a large, strong conductor dipping to the west ...”
“The presence of multiple conductors suggests a large mineral system with potential to deliver a very significant increase in the down plunge strike of high-grade mineralisation…”
Drilling of these new targets will commence immediately after completion of the current hole which is being completed approximately 260m to the west of these new conductors.”
The refinement of the newly identified targets will be made as they are drilled and as additional geological and geophysical information comes to hand.
The broader Mt Alexander project is centred on the Ida fault zone, about 120km south-southwest of the highly endowed Agnew-Wiluna greenstone belt that hosts numerous world-class nickel deposits.
St George has turned up shallow, ore grade nickel-copper sulphide mineralisation at all three prospects at Mt Alexander, although the modest widths of the massive sulphide accumulations has made targeting of the units quite challenging.
The company has had success in employing DHEM surveying at the project and it now has a defined pathway to tread as it looks to narrow in on the source of the obvious mineralisation in the area.