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St George Mining confident exploration could lead to major discovery in Paterson Province hotspot

The Paterson Project is in the Paterson Province, a highly prospective region that hosts significant gold and copper finds.

St George Mining Ltd - St George Mining is confident Paterson Project exploration could lead to major discovery
The company is planning its maiden drill program for the project

St George Mining Ltd (ASX:SGQ) has received strong results from first exploration at its Paterson Project in the Paterson Province exploration hotspot of Western Australia.

An airborne magnetic (AM) survey was completed last month with the aim of evaluating the structure and stratigraphic setting and identifying focus areas for further exploration.

This survey, which was flown over more than 4,000 kilometres with a line spacing of 100 metres, identified compelling areas of interest with mineralisation similar to those known to host precious metals and base metals discoveries in the region.

St George Mining executive chairman John Prineas said: “The results from the aeromagnetic survey have exceeded our expectations with multiple areas of interest identified across the 35-kilometre strike of prospective stratigraphy on our exploration ground.

“We have begun planning for the 2020 drill program and applied for the Western Australian Government’s Exploration Incentive Scheme (EIS), which provides co-funding for exploration drilling up to a prescribed capped amount.”

A maiden drill program to test the new areas of interest will be finalised once the outcome of the EIS application is known.

The Paterson Province

The Paterson Province is one of the most highly endowed, yet under-explored mineral provinces in Australia with giant deposits including Newcrest Mining Limited’s (ASX:NCM) (OTCMKTS:NCMGY) Telfer mine which hosts 30 million ounces of gold, and Metals X Limited’s (ASX:MLX) Nifty mine with 2 million tonnes of copper.

Recent major discoveries have been made by Rio Tinto (ASX:RIO) at Winu and at Citadel, which is being explored in joint venture with Antipa Minerals Ltd (ASX:AZY), as well as by Greatland Gold PLC (LON:GGP) and JV partner Newcrest at the Havieron Project.

These latest discoveries have established the Paterson Province as a highly sought-after exploration address with strong potential for world-class discoveries.

Map of the province showing magnetic data (1VD greyscale) and highlighting the prospective stratigraphy associated with major deposits and present at St George’s tenement

Exploration upside

St George’s granted exploration licence covers more than 35 kilometres strike of prospective stratigraphy in the province and is proximal to tenements hosting Winu and Citadel.

In addition, the stratigraphic horizon that hosts these major deposits is interpreted to continue within the Paterson Project, which the company views as very strong encouragement for its exploration upside.

Prineas said: “Our Paterson Project is shaping up as an outstanding opportunity to make a greenfields discovery.

“We are excited to be progressing exploration at the Paterson while we continue our principal exploration and development activities at our flagship Mt Alexander nickel-copper sulphide project.”

St George is continuing to explore for additional discoveries at Mt Alexander as well as advancing towards a potential mine for the shallow high-grade deposits already identified.

Quick facts: St George Mining Ltd

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