Four diamond drill holes at the Investigators prospect have been completed in the current program, with multiple intersections of nickel-copper sulphides and prospective ultramafic rocks recorded.
The thickest intersection included 15.1 metres of sulphide mineralisation that comprised 14.8 metres of disseminated and blebby sulphides as well as 0.3 metres of massive sulphides, with the latter recording an average XRF reading of 8.1% nickel and 3.9% copper.
New EM conductors identified “are a great reward”
Early drilling success supports the potential to significantly increase the volume of high-grade mineralisation at Mt Alexander, with a large number of EM conductors lined up for drilling.
St George’s executive chairman John Prineas said: “Initial drill results have confirmed further continuity to the mineralisation at Investigators and support the potential to bulk up the scale of the mineralised envelope in this area.
“The new EM conductors identified in the Cathedrals Belt are a great reward for our ongoing methodical exploration of the belt.
“Any drill intersection of high-grade nickel-copper sulphides in this underexplored area would represent a new discovery with the potential to increase the endowment of high-grade mineralisation.
“Exploration programs continue in full swing at Mt Alexander with drilling 24/7 and further EM surveys underway.”
Shares are up more than 6% to 16 cents.
New prospects identified by EM surveys
Results have also been delivered by extensive EM surveys in progress at the Cathedrals Belt, which identified two strong EM conductors interpreted as likely to be associated with nickel-copper sulphides.
One conductor is 1-kilometre east of the Cathedrals prospect and adjacent to a nickel-copper gossan, while the other is a further 1-kilometre east at Bullets prospect and along strike from a historical drill intersection made by BHP Billiton.
Both anomalies are coincident with the strong magnetic linear trend known to host mineralised ultramafics in other parts of the Cathedrals Belt.
Test drilling of the new EM conductors has been fast-tracked and will be carried out next week.
Fish Hook prospect
An MLEM survey will begin later this week at Fish Hook prospect and comprise four lines with an east-west strike of about 1,000 metres.
The survey is designed to cover the highly prospective area identified by the initial soil survey undertaken at Fish Hook which recorded a nickel-copper soil anomaly coincident with a magnetic feature interpreted to represent mineralised ultramafics.
An EM survey across the entire 8,000-metre strike of the Fish Hook prospect will be rolled out after completion of a comprehensive soil survey due to start in two weeks.