St George Mining discovers new high-grade nickel copper sulphides with results 'deepest to date' at flagship Mt Alexander Project

St George Mining discovers new high-grade nickel copper sulphides with results 'deepest to date' at flagship Mt Alexander Project

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St George Mining Ltd (ASX:SGQ) (FRA:S0G) has discovered new high-grade nickel-copper sulphides at its flagship Mt Alexander Project in Western Australia’s north-eastern Goldfields region, suggesting the presence of a significant mineralised intrusive system.  Around 10.96 metres of continuous nickel-copper sulphides have been intersected in MAD199, which tested a strong 19,320 Siemens electromagnetic (EM) conductor.  Untested EM conductors located up-dip and down-plunge from MAD199 support the potential for further significant mineralisation in this area. An additional two EM conductors are located proximal to MAD195_p1 and are also interpreted to have a massive sulphide source.  The combined strike length of these conductors suggests the presence of a significant volume of high-grade mineralisation in this location.  Deepest intersection to date Executive chairman John Prineas said the company believes there is excellent potential to discover further high-grade mineralisation in other underexplored areas of the Cathedrals Belt. He said: “MAD199 has delivered an outstanding intersection of nickel-copper sulphides that may be indicating the presence of a large accumulation of mineralisation. “At more than 300 metres below surface, this is the deepest massive nickel-copper sulphides identified in the Cathedrals Belt and confirms our interpretation that the large intrusive mineral system at the Cathedrals Belt can host significant mineralisation at depth.” Mineralisation “not seen anywhere else” Drilling to date has confirmed the nickel-copper sulphides discovered in the Cathedrals Belt are part of a large mineralised intrusive system. The intrusive host unit is known to extend for an east-west strike of more than 6.5 kilometres from Radar in the east to West End in the west, and to a depth of at least 600 metres below surface. There is considerable scope to discover further mineralisation as the unit remains open to the east and west, as well as in the down-dip direction – particularly in the northwest part of the Belt where drilling is currently underway at West End. Prineas said mineralisation of that kind is very rare – the combination of high-grade nickel-copper-cobalt and platinum group elements is not seen anywhere else in Western Australia or Australia for that matter. He continued: “We look forward to further results with downhole EM surveys in progress and drilling continuing 24/7.” New regional aeromagnetic and radiometric survey A new aeromagnetic and radiometric survey has been completed over project tenements E29/972 and E29/1041, both 100%-owned by St George. The high-resolution survey was completed with 100-metres line spacing and has provided detailed magnetic data for these newly acquired tenements. Historical regional government magnetic data for E29/1041 shows two distinct anomalies with an east-west strike that are potentially analogous to the Cathedrals Belt. Field mapping and sampling by St George in this area subsequently confirmed the presence of mafic rocks and nickel-copper anomalism in a small rock chip and soil sampling programme. An expanded soil programme is currently underway and nearing completion with this survey covering the bulk of the two magnetic features. Paterson Project At the company’s early-stage Paterson Project, also in WA, multiple high‐priority targets have been identified for potential copper and gold mineralisation as the company prepares for drilling in May, subject to completion of its heritage survey. A Program of Works for an inaugural drill program has been approved by the Department of Mines, Industry Regulation and Safety (DMIRS) as major mining companies such as Rio Tinto Ltd (ASX:RIO) (OTCMKTS:RTNTF) (FRA:CRA1), Fortescue Metals Group Ltd (ASX:FMG) (OTCMKTS:FSUMF) (FRA:FVJ) and Newcrest Mining Ltd (ASX:NCM) (TSE:NCM) (OTCMKTS:NCMGF) (FRA:NMA) make movements with their own exploration programs in the area.

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