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St George Mining Ltd in trading halt ahead of capital raising

The Mt Alexander project is 120 kilometres SSW of the Agnew-Wiluna belt, which hosts numerous world-class deposits.

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Soil samples from Fish Hook prospect have returned anomalous nickel, copper and PGEs

St George Mining Ltd (ASX:SGQ) has been granted a trading halt by the ASX ahead of capital raising news.

The halt will remain in place until the beginning of trade on Friday, July 19, 2019 or until an announcement is made to market, whichever occurs earliest.

St George securities last traded at 11.5 cents.

READ: St George Mining identifies further high priority nickel-copper targets at Mt Alexander

Earlier this month the company generated high priority nickel-copper sulphide targets at the Fish Hook prospect within its Mt Alexander project in the north-eastern Goldfields of WA.

The Fisk Hook prospect occurs within the interpreted 8,000-metre eastern extension of the Cathedrals Belt.

A soil survey was carried out at Fish Hook over several prospective magnetic features to test whether geochemical sampling could detect the presence of ultramafic rocks and/or nickel-copper sulphides through the thin cover sequence.

READ: St George Mining to target EM conductors in major drilling programs at Mt Alexander

St George Mining executive chairman John Prineas said: “The results from the initial soil survey at Fish Hook are remarkable and support the potential for nickel-copper sulphides at depth.

“The fact that these high value results were returned from an orientation survey is highly encouraging and shows that nickel-copper mineralisation could potentially be widespread along the entire Cathedrals Belt.”

Quick facts: St George Mining Ltd

Price: 0.145 AUD

ASX:SGQ
Market: ASX
Market Cap: $59.83 m
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