viewSt George Mining Ltd

St George Mining enters June quarter cashed up

The company is well funded to continue exploration in the June quarter.

Lab assays remain pending and drilling continues at Mt Alexander

St George Mining (ASX:SGQ) entered the current June quarter with a cash balance of $5.7 million leaving it well-funded to continue exploration at Mt Alexander and other projects.

During the March quarter, a major drill program commenced at the Mt Alexander Project located in Western Australia.

Early results have already confirmed the discovery of additional massive nickel-copper sulphides.

A large moving loop electromagnetic survey commenced over the extensions of the Cathedrals Belt with two anomalies identified at the intersection of the Cathedrals Belt and Ida Fault.

Furthermore, an expanded gold drill program with multiple new targets is ready to commence at the East Laverton gold project.

Mt Alexander

St George recently commenced a major drilling campaign at the Mt Alexander nickel sulphide project testing the Cathedrals prospect, the Stricklands prospect and the Investigators prospect.

Drill results from Mt Alexander during 2016 suggest it could be an emerging new nickel camp with potential for multiple deposits.

Multiple new discoveries in 2016 have established recurrent mineralisation over 3.5 kilometres of strike.

The program is testing new conductors and targets as well as targeting extensions to mineralised zones to establish a resource base.

Early results show the electromagnetic conductors that were tested returned high grade massive nickel-copper sulphides with average grades of 7% nickel and 2.3% copper based on XRF analysis.

Lab assays remain pending and drilling continues.

East Laverton

St George is ready to commence reverse circulation drilling at its 100% owned East Laverton Project in Western Australia.

The 2016 gold drill program was successful in identifying the potential for gold mineralisation at the Ascalon and Bristol gold prospects.

A technical review by gold experts has confirmed the strong gold potential at East Laverton, and prioritised multiple targets for exploration in 2017.

Drilling will initially focus on the highest rated targets at Desert Dragon, Cambridge and Cambridge North prospects.

Quick facts: St George Mining Ltd

Price: 0.096 AUD

Market: ASX
Market Cap: $39.61 m

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St George Mining ‘attracting the attention of its peers’ as drilling...

St George Mining Ltd's (ASX:SGQ) executive chairman John Prineas tells Proactive London's Andrew Scott their drill programme at the Mt Alexander Project in Western Australia is ongoing with some great recent exploration success. ''We had the Radar discovery in early September, that was the...

on 28/11/19

2 min read