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St George Mining Ltd

St George Mining Ltd assays more mineralisation at Investigators

Successful drilling results continue to validate the exploration process.

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Additional assays are pending

St George Mining Ltd (ASX:SGQ) has received more assay results from recently completed drill holes at the Investigators Prospect located within the Mt Alexander Project in Western Australia.

The results confirmed multiple intersections of high-grade nickel-copper-cobalt-platinum group elements (PGEs) mineralisation over a broad area.

Assay results for drill hole MAD60 feature 5.3 metres at 4.95% nickel, 2.75% copper, 0.16% cobalt and 4.55 g/t PGEs.

John Prineas chairman, commented: “The latest drilling at Investigators has delivered strong results at this underexplored prospect.

“We are particularly excited by the outstanding intersection in MAD60 which represents a new zone of high-grade mineralisation in an area that had never been drilled.

“It is also very pleasing to see high grades of copper, cobalt and PGEs along with the high-grade nickel sulphide.”


Drill result details

The high-powered electromagnetic (EM) survey completed earlier this year over the Investigators Prospect identified two large EM anomalies.

Twelve drill holes to test modelled EM plates were completed at the Investigators Prospect in the recent diamond drill program at Mt Alexander.

Seven of these drill holes intersected massive nickel-copper sulphides that could explain the modelled EM plates.

Highlights included:

- 5.3 metres at 4.95% nickel, 2.75% copper, 0.16% cobalt and 4.55 g/t PGEs from 157.9 metres including 3 metres at 6.40% nickel, 3.55% copper, 0.21% cobalt and 5.25 g/t PGEs; and
- 1.91 metres at 3.60% nickel, 1.04% copper, 0.11% cobalt and  2.56 g/t PGEs from 178.2 metres.

Assay results from a further five holes are pending.


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.


Analysis

Drilling results now confirm that the EM anomalies host high-grade nickel-copper sulphides.

This adds to the confidence that the company’s systematic exploration approach at Investigators will continue to deliver exploration success.

Importantly, there is strong prospectivity for additional massive sulphide mineralisation within these target areas as the mineralisation intersected to date at Investigators does not fully account for the larger conductive areas of the EM anomalies.

Investors will remain leveraged to potential catalysts going forward as the continuity of the mineralisation will be tested by further drilling within the large EM anomalies.

The mineralisation being assayed outside of nickel and copper is positive as these additional commodities are likely to deliver significant credits in any potential mining operation at Mt Alexander.

Assays remain pending and further drilling is expected to be planned.

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Price: $0.20

Market: ASX
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