St George drilling hits new nickel sulphides in WA

St George Mining has drilled two holes that intersected nickel sulphide mineralisation at the new Fairbridge prospect of its Mt Alexander project near Leonora, WA.

The first hole intersected about 7m of disseminated nickel sulphides in ultramafic from 60m downhole and traversed a second ultramafic unit at 150m downhole whilst the second hole to the north intersected about 5m of disseminated and blebby nickel sulphides from 90m downhole and another 4m of coarse nickel sulphides from 197m downhole.

Management said the results indicate that the mineralised ultramafic dips to the north, with stronger nickel sulphide mineralisation located at depth.

The company has modelled a large chargeable anomaly to the north of the second hole at Fairbridge that will be drill targeted this week.

St George previously noted that the anomalies at Fairbridge might be associated with the numerous sulphide gossans that returned impressive surface rock chip assays up to 1.23% nickel and 1.09% copper.

Drilling between the Stricklands and Investigators prospects also intersected ultramafic with nickel sulphides visible, confirming a new mineralised zone exists in this previously unexplored 500m strike zone of the Cathedrals Belt.

Downhole electromagnetic surveys will be completed to assist in identifying any potential mineralisation around those drill holes.

St George will plan further drilling and geophysical surveys, if warranted, for this new zone of mineralisation once the results of the DHEM surveys have been reviewed.

Executive Chairman John Prineas said: “Initial drill results at Fairbridge fit very well with our geological model for the Cathedrals Belt, which interprets the ultramafic unit dipping to the north with potential for further mineralisation down-plunge.”

“This is encouraging for the remaining nickel sulphide drill targets at Fairbridge – particularly the large chargeable anomalies recently identified down plunge of the known mineralisation at the Cathedrals Belt.”

Share Price

Closing price for the last 90 trading days
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®