Geophysical characteristics of St George Mining’s C1 target are similar to known mineralised carbonatites in WA such as WA1 Resources’ Luni discovery. Pic via Getty Images
Mining
Special Report: Latest field work at St George Mining’s Destiny project has uncovered a large, intrusive target with potential for niobium-REE mineralisation.
St George Mining’s (ASX:SGQ) 3,350km2 Destiny project in the Coolgardie mineral field covers 110km of the Ida Fault, a major crustal-bounding structure that is considered to be highly prospective for REE and lithium mineralisation.
A gravity survey carried out at the Project earlier this year confirmed that four of six magnetic features have a high gravity signature raising the likelihood that they are carbonatites or mafic intrusions, which are known to host either niobium, REE or nickel-copper-PGE mineralisation.
SGQ has been homing in on the large, 2.1km diameter C1 target, which boasts a magnetic high rim and high gravity signature at its core – supporting the possibility for it to be a carbonatite or mafic intrusion.
A follow up survey – which was completed earlier this month – delineated several discrete gravity highs within the C1 core that are coincident with discrete magnetic highs, a geophysical signature that may represent mineralisation and present as high-priority targets for drilling.
Another gravity survey was also carried out over target C3, another interpreted intrusive magnetic feature located along a regional scale 30km fault that is a splay to the Ida Fault.
The gravity results indicate a high gravity core signature at C3 supporting the potential of a carbonatite or late-stage mafic intrusion.
C3 will also be prioritised for drilling as a second order target.
A Programme of Works (POW) and heritage clearance applications have already been initiated in preparation for drill testing, which is anticipated to begin in the second half of 2024.
“C1 is a compelling exploration target, and we are pleased to have been able to complete the follow-up gravity survey quickly,” SGQ executive chairman John Prineas says.
“These results are highly promising and further upgrade the prospectivity at C1.
“We are accelerating approvals to be able to drill C1 and look forward to drilling this exciting target at the earliest opportunity.”
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.
