St George Mining Ltd (ASX:SGQ) (FRA:S0G) has further extended high-grade nickel-copper sulphides down-dip at its Investigators prospect during an extension drilling campaign at the multimineral Mt Alexander project northeast of Western Australia’s Goldfields.
The company said today assay from MAD112 Line at the prospect near Leonora on the Cathedrals Belt confirmed a high-grading intersection of 3.55 metres at 4.67% nickel, 2.27% copper, 0.20% cobalt and 2.94 g/t total platinum group elements (PGE) from 116 metres in a 120-metre plunge.
Perth-based St George also reported a 30,000 Siemens-strong off-hole conductor had been found during surveying of a hole along the MAD60 line, down plunge from known high-grade nickel-copper sulphides.
St George told the market: “The new conductor, MAD119:X1, is interpreted to be a continuation of the massive nickel-copper sulphides intersected in MAD108.”
The company believes it could return an extended 380-metre northerly plunge of mineralisation on the line.
Drilling efforts along a third line at Investigators prospect, the MAD111 line, showed up a weak, large anomalous EM response — modelled as 400 metres by 350 metres —down plunge from the very strong conductors.
The Investigators, Cathedrals and Stricklands nickel-copper-cobalt-PGE discoveries are on an exploration licence held in joint venture by St George and Western Areas Ltd (ASX:WSA).
Project manager St George has 75% of the JV.
St George executive chairman John Prineas reported: “Our methodical exploration strategy at Investigators, using drilling and DHEM surveys concurrently to identify potential extensions of massive nickel-copper sulphides, is delivering excellent results.
Prineas told Proactive Investors’ London-based anchor Andrew Scott the company had “massive nickel sulphides” along the Investigators prospect’s strike length in an interview last week during LME Week.
Today he said: “The east-west strike of mineralisation at Investigators is more than 1.5 kilometres, suggesting that any extension of mineralisation to the north will substantially increase the volume of high-grade mineralisation at Investigators.
“The DHEM surveys at Investigators have been successful in identifying further conductors down plunge from known high-grade mineralisation.
“This is a textbook fit to our geological model, which envisages potential for additional significant nickel-copper sulphides at depth in the down-dip direction.”
Chairman Prineas believes the MAD60 line findings have been exciting.
Prineas said: “The results of the DHEM survey in MAD119 are particularly exciting with potential for the new conductor to extend the plunge of mineralisation on the MAD60 line to a very significant 380 metres.”
St George’s securities were up 0.4 cents, or 5.88%, to 7.2 cents by mid-morning.
St George executive chairman John Prineas is a speaker at the Australian Nickel Conference at the Pan Pacific Perth hotel next Tuesday, October 23.