St George has generated multiple new targets from seismic and electromagnetic (EM) surveys at the Mt Alexander project that warrant further exploration for nickel-copper-PGE mineralisation.
One target in particular is especially compelling for the company, because it’s at the grantite/greenstone contact of the Mt Alexander Belt – the geological setting where Western Areas (ASX:WSA) discovered the Flying Fox nickel deposit.
Plus, the geologist that made the discovery at the time, Julian Hanna, is now working with St George (ASX:SGQ) so it’s safe to say he knows what he’s talking about.
The main target was modelled with conductivity of 3,500 Siemens and a plate 200m x 150m, and is located around 320m below surface, underneath thick granites that have intruded the greenstone belt.
In addition, two more EM anomalies were identified at the granite/greenstone, with one in the southern area of the Radar Prospect – which could be a potential repetition of the east-west trending Cathedrals Belt mineralisation to the south.
Drilling planned for Q4 2022
A FLEM survey will be completed over the new EM anomalies to provide data that will enable final modelling of the targets, after which the company expects to drill the targets – as early as Q4 2022.
“With multiple high-grade discoveries at the Project and large areas of tenure underexplored, Mt Alexander is one of the most prospective nickel-copper-PGE sulphide projects in Western Australia,” executive chairman John Prineas says.
“We are delighted that the latest seismic and EM surveys have delivered a number of targets that have potential to add to our existing discoveries.
“Significantly, the new targets are in unexplored areas of the project that we have identified as having potential for new, large deposits.
“We look forward to progressing these targets to drill testing in the coming weeks.”
There’s lithium potential too
As an added bonus, the company is also planning to announce a report on the lithium potential at Mt Alexander soon.
“We are also finalising our review of the lithium potential at Mt Alexander with our report expected very shortly,” Prineas said.
“Investor interest in this area is growing with continuing success by Red Dirt Metals (ASX: RDT) at its nearby lithium project and Zenith Minerals (ASX: ZNC) also commencing its lithium search in Mt Alexander.”
This article was developed in collaboration with St George Mining Limited, 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.