Could it be St George Mining’s Destiny to prove up a new major REE deposit?

REE mineralisation up to 42m thick and up to 5,125ppm was intersected at Destiny
7km-strike identified and open in all directions
Follow-up drilling now under way
St George Mining recently granted an additional 200km2 exploration licence

Special Report: St George Mining has kicked off follow-up drilling at its high-grade Destiny discovery where it recently intersected >500ppm total rare earth oxides (TREO) in 42 out of 61 drill holes.

The Destiny REE project in the Eastern Goldfields covers a whopping 3,350km2 in the Coolgardie mineral field, spread across >110km of the Ida Fault, a major crustal-bounding structure which St George Mining (ASX:SGQ) considers to be highly prospective for REE and lithium mineralisation.

Other major deposits along the Ida Fault include Liontown Resources’ (ASX:LTR) Kathleen Valley lithium mine and Delta Lithium’s (ASX:DLI) 12.7Mt Mt Ida lithium project.

Drilling Destiny

SGQ’s maiden drill program late last year delivered a breakthrough discovery of clay-hosted REE mineralisation.

High-grade TREO (>500pm) was intersected in 42 out of the 61 drill holes, with a peak value of 2m @ 5,125ppm from 32m within a broader 26m @ 2,058ppm from 24m downhole.

Not only that, near-surface high-grade REEs were confirmed along a 7km-long strike of the Ida Fault, with mineralisation open in all directions.

High-value magnetic rare earths (MREO) such as neodymium and praseodymium used in magnets for EVs made up an average 19% of TREO across all 61 holes.

Follow-up drilling is now under way to test the continuity of the mineralisation with a minimum of 26 AC drill holes for >1,000m.

St George Mining asx SGQ — Previous and ongoing drilling locations across the Ida Fault at Destiny. Pic: Supplied (SGQ)

More potential targets and land expansion

A review of magnetic data over the northern portion of Destiny has identified six distinctive, circular magnetic features each up to a diameter of 2.5km.

SGQ says it’s an exciting greenfield exploration opportunity with similarities to known mineralised carbonatites in the region, including the Mt Weld REE mine operated by the pioneering Lynas Rare Earths (ASX:LYC).

Ground gravity surveys are being planned across each target to determine if they are associated with REE mineralisation.

Auger soil surveys were also conducted over a 50km2 area, with 735 samples collected and shipped off to the lab for analysis.

Late last month, exploration license E63/2350 was granted to SGQ, adding a further 200km2 to the project and straddling an extra 20km of the Ida Fault, which Destiny now covers >110km.

Mapping, outcrop sampling and soil surveys are due to be scheduled to define potential drill targets.

‘The potential scale of Destiny is impressive’

“We are excited to be drilling again at Destiny and have a clear target to further scope out the extent of the high-grade REE mineralisation we discovered just a few months ago,” SGQ executive chair John Prineas says.

“The potential scale of Destiny is impressive with mineralisation already confirmed along a 7km-stretch of the Ida Fault zone, with a further 70km of prospective geology exposure within the project yet to be drill-tested.

“The mineralisation contains a high proportion of magnetic rare earths – which are highly sought after for application in clean energy solutions – to add to the attractiveness of the project.

“Work is also under way to investigate newly identified large, circular magnetic features at Destiny.

“These are located proximal to the Ida Fault, a regional-scale crustal shear zone that could have acted as the conduit for late-stage intrusions like carbonatites.

“We look forward to reporting exploration results, including from this follow-up drill programme and assays from the just-completed auger campaign, in due course.”

This article was developed in collaboration with St George Mining, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.