ASX-listed explorer, St George Mining has shone a light on some 35 kilometres of prospective geology in the Paterson province in the eastern Pilbara region of WA after a new aeromagnetic survey lit up several copper and gold exploration hotspots.
The geophysical survey represents the company’s inaugural field work program in this prolific mineral province and its Executive Chairman, John Prineas said: “Our Paterson Project is shaping up as an outstanding opportunity to make a greenfields discovery. We are excited to be progressing exploration at the Paterson while we continue our principal exploration and development activities at our flagship Mt Alexander nickel-copper sulphide project.”
St George’s Paterson play holds the same geological characteristics as the behemoth Telfer gold mine that has produced over 32M ounces of gold and 1M tonnes of copper to date.
With little to no historical exploration on St George’s new ground, the company has now applied for co-funding under the Western Australian Government’s Exploration Incentive Scheme. Any grant will facilitate a maiden drilling program to test some of the more compelling targets.
St George’s Paterson project is located in the northern reaches of the province and is accompanied by neighbors with significant holdings, with the likes of FMG and Rio Tinto.
Directly west of St George’s new tenement lies ASX-listed Antipa Minerals’ Citadel prospect, just 100km north of the Telfer gold-copper-silver mine.
Antipa has a JV agreement with mining goliath, Rio Tinto, who up until January this year, as operator of the project, had spent a whopping $11 million on exploration across Citadel.
Calibre and Magnum, two established deposits in the Citadel project, together hold a current resource of 63.8Mt grading 0.8 grams per tonne gold, 0.2% copper, 0.6g/t silver and 161ppm tungsten for a contained 1,639,000 ounces of gold, 127,300 tonnes of copper, 1,241,000 ounces of silver and 10,300 tonnes of tungsten.
St George has a smorgasbord of metals now on its exploration and development plate, including nickel, copper, gold, tungsten, silver, lead and zinc.
Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au
