Results from a recent REE-focused drill program support the potential for a large, high-grade deposit at St George’s Destiny project in WA. Pic via Getty Images
Mining
Special Report: A follow-up drilling program completed earlier this month at St George’s Destiny project in WA’s Eastern Goldfields has confirmed further continuity of the clay-hosted REE discovery announced in December 2023.
The maiden drilling program confirmed high-grade total rare earth (TREO) mineralisation across a strike of 7km along the Ida Fault, a regional scale crustal shear zone gaining popularity as a control on major mineral deposits in WA.
Rare earth elements such as neodymium and praseodymium are needed for the permanent magnets used in electric vehicle motors and wind turbines – two markets expected to drive a more than doubling in demand by 2030.
Together with the scale of the prospective geology, which St George Mining (ASX:SGQ) believes could extend for more than 70km, the ‘ground-breaking results’ revealed for the first time the impressive potential of the project.
Now, the most recent follow-up drilling campaign – comprising a total 28 drill holes – has been successful again, this time in identifying continuity in the distribution of TREO zones.
New standout results include:
SGQ says the strike of mineralisation has also been extended even further to more than 10km, while providing confidence in the consistency of the mineralisation along this trend.
Grades and thicknesses – and importantly, the high proportion of magnetic rare earths (MREO) such as neodymium and praseodymium (together, NdPr) – are similar to the results from the maiden drilling, pointing to the potential of a continuous high-grade REE deposit.
“These latest assay results confirm that the near-surface high-grade mineralisation is widespread and consistent in grades and thickness across the 15km2 area tested by drilling to date,” SGQ executive chairman John Prineas says.
“This is a very large footprint and – impressively – the mineralisation remains open in all directions.
“The attractiveness of the Destiny project is also underscored by the high proportion of heavy and magnetic rare earths in the mineralisation – with the magnetic rare earths such as neodymium and praseodymium highly sought-after by the clean energy sector.”
A completed gravity survey over several prominent magnetic features has also demonstrated the likelihood of a carbonatite intrusive, potentially associated with the REE mineralisation, Prineas says.
“Modelling of the data is in progress and will be fed into our next exploration push,” he says.
“We look forward to planning the next round of drilling at Destiny with a clear focus on establishing a significant deposit of mineralisation at what is shaping as a highly exciting REE discovery in a prime mining province.”
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.
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