St George Mining Ltd to survey nickel-copper targets at Mt Alexander
Date
9/28/2016 2:34:06 AM
(MENAFN- ProactiveInvestors - Australia)
St George Mining Ltd (ASX:SGQ) has planned a fixed loop electromagnetic survey for the Cathedrals Belt within the Mt Alexander Project located in Western Australia.
The primary objective of the new survey is to identify any deep conductors in the Cathedrals Belt below the depth of detection of previous electromagnetic surveys.
The survey is designed to detect conductive targets at a depth of 500 metres or more.
The Mt Alexander Project is located 120 kilometres south-southwest of the Agnew-Wiluna belt, which hosts numerous world class nickel deposits.
The Cathedrals, Stricklands and Investigators nickel-copper discoveries are located on a granted exploration licence held in joint venture by Western Areas Ltd (ASX:WSA) (25%) and St George (75%).
Earlier this month, St George confirmed significant intervals of high grade nickel-copper sulphide mineralisation from diamond drilling at the Stricklands Prospect.
The drilling intersected 4.3 metres at 4.26% nickel, 2.02% copper and 0.19% cobalt from 53.9 metres.
St George is also planning an aeromagnetic survey across the entire Mt Alexander Project area, for a total of 4,300 line kilometres.
The company is well funded having recently completed a private placement of ordinary shares that has raised $6.47 million.
The stock is up 90% year to date, currently trading at $0.135. <
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