St George Mining Ltd (ASX:SGQ) has received drilling assays confirming intersections of high-grade nickel-copper-cobalt at the Cathedrals Prospect within the Mt Alexander Project in Western Australia.
The company’s shares are trading circa 9% higher intra-day, at $0.25.
John Prineas, executive chairman, said: “We are very pleased with the high grade nickel, copper, cobalt and PGEs returned in the assays for the latest drilling at the Cathedrals Prospect.
“The mineralisation at the Cathedrals Prospect continues to impress with high grades and shallow depths to mineralisation.”
Drilling has extended the thick nickel-copper sulphides
One of the holes was drilled to test for an eastern extension of the thick nickel-copper sulphides already discovered in the Cathedrals ultramafic. The hole intersected:
- 3.28 metres at 5.77% nickel, 2.43% copper, 0.18% cobalt and 5.05 g/t total platinum group elements from 52.75 metres including;
- 1.9 metres at 7.42% nickel, 3.45% copper, 0.23% cobalt and 5.61 g/t total platinum group elements from 54.13 metres.
Mineralisation discovered in the footwall fault as well
Another hole was drilled to test an off-hole downhole electromagnetic plate in the footwall fault, circa 80 metres below the main Cathedrals ultramafic unit.
This hole intersected mineralisation in the footwall fault with:
- 5.94 metres at 1.76% nickel, 0.85% copper, 0.06% cobalt and 1.88 g/t total platinum group elements from 180.06 metres including massive and brecciated massive sulphides of;
- 2.04 metres at 2.70% nickel, 1.53% copper, 0.08% cobalt and 3.09 g/t total platinum group elements from 180.06 metres.
Both drill holes intersected nickel-copper sulphides and successfully extended the known mineralisation at the Cathedrals Prospect.
Importantly, the ultramafic and the footwall fault are interpreted from the drill results to extend for a strike length of 400 metres.
The drill-hole data for the two holes are being reviewed in conjunction with data from the downhole electromagnetic surveys completed in those holes to plan further drilling at the Cathedrals Prospect.
The Cathedrals, Stricklands and Investigators discoveries are located on an exploration license which is held in joint venture by Western Areas (ASX:WSA) (25%) and St George (75%).