ASX-listed St George Mining’s latest geophysical program has identified potentially game changing new areas at depth along the Cathedrals Belt, some of which are untested for nickel-copper-cobalt-PGM mineralisation. The surveys were conducted to give the company an insight into the geological structure to depths of more than 5km. The surveys lit up multiple areas of interest that may either play host to nickel-copper sulphide mineralisation or show where faults are hiding.
The magnetotelluric, or “MT” and audio-magnetotelluric, or “AMT” surveys were conducted to give the company an insight into the geology and structures to depths of more than 5km.
The survey covered an area from the company’s Bullets prospect to the east through to about 10km to the west of the West End prospect and effectively provided cross sections, or “slices” of the conductivity through the earth’s crust.
St George Mining’s Executive Chairman, John Prineas, said: “The results from the MT survey are a game-changer for exploration at the Mt Alexander Project.”…
“The MT survey has gone a long way towards unlocking the geological model at the Cathedrals Belt by providing new and breakthrough insights into the stratigraphy and structural framework at depth.”
St George said the surveys lit up areas of interest that may either play host to nickel-copper sulphide mineralisation or show where faults are hiding that are potentially offset to known mineralisation.
Most of these major MT/AMT responses can be correlated to known mineralised ultramafic rocks at Investigators and therefore provide a sense of excitement for the company.
St George also outlined further results of ongoing development test work with laboratory assays coming in for its metallurgical diamond drill hole – and they didn’t disappoint.
A 10.5 metre zone graded an extraordinary 4.82% nickel, 1.67% copper, 0.15% cobalt and 2.87 grams per tonne PGMs from 185m downhole. This 10.5m interval included a higher grade zone with 4m grading 7.53% nickel, 2.47% copper, 0.23% cobalt and 3.92g/t PGMs from 186m.
Platinum group metal results include very high levels of palladium and rhodium, with the 10.5m intercept going 2.33g/t palladium and 0.08g/t rhodium including 4m grading 3.23g/t palladium and 0.1g/t rhodium.
Preliminary metallurgical test work performed by St George recently produced a nickel concentrate that included a stellar 13.5g/t PGMs, including 9g/t palladium and 1.2g/t rhodium. Both palladium and rhodium prices have been running hard lately and the presence of these two metals may well throw in some blue sky when it comes to running the economics at the project.
Meanwhile, St George is progressing its scoping study and has appointed Entech to conduct an independent maiden resource for the Mt Alexander project.
Mr Prineas said: “We are undeterred in our commitment to deliver further exploration success at our projects and will be announcing more significant exploration initiatives over the coming weeks, including a revised drill programme for Mt Alexander and our first exploration results at the new Paterson Project where an airborne magnetic survey was completed this month.”…
“We are aiming to deliver an economically robust start-up mine with very low up-front capital costs and a high-value product with exceptional pay abilities for nickel, copper, cobalt and platinum group metals that include palladium, platinum and rhodium.”
Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au
By Matt Birney
