NICKEL-COPPER SULPHIDE DRILLING AT MT ALEXANDER - UPDATE
ASX Announcement 19 April 2018
HIGHLIGHTS:
- Nickel-copper sulphides intersected in MAD95 which was completed 43m to the west of MAD71 at Stricklands
- Mineralisation at Stricklands remains open towards the west on the edge of the large SAMSON electromagnetic (EM) anomaly
- Downhole electromagnetic (DHEM) surveys underway at Stricklands
- Drilling of deep EM targets at Investigators has commenced
Emerging West Australian nickel company St George Mining Limited (ASX: SGQ) (“St George” or “the Company”) is pleased to announce that drilling has continued to intersect nickel-copper sulphide mineralisation at the Mt Alexander Project, located near Leonora in the north-eastern Goldfields.
MAD95 was completed to a depth of 70m to test for nickel-copper sulphide mineralisation to the west of MAD71 and MAD77 at Stricklands. Visible sulphide mineralisation was observed in MAD95 between 33.1m to 49.2m downhole and comprised the following intervals:
MAD95 was drilled 43m to the west of MAD71 and 20m to the west of MAD77, both of which intersected nickel-copper sulphides, with MAD71 delivering an outstanding intersection of massive nickel-copper sulphides. For further details on MAD71, please see our ASX Release dated 15 December 2017 ‘Assays Confirm Best Ever Intersection at Mt Alexander’.
John Prineas, St George Mining’s Executive Chairman, said:
“The intersection of nickel-copper sulphides in MAD95 indicates that the mineralised ultramafic extends to the west of MAD71 and remains open in the western section of the large SAMSON EM anomaly at Stricklands.
“Drilling in the current programme has been successful in identifying additional high-grade mineralisation in the expansive Stricklands mineral system.
“Further drilling will be planned at Stricklands after the DHEM survey results from the recently completed drill holes are reviewed.”
The stringers of massive sulphides and the semi-massive sulphides intersected in MAD95 may be indicative of structural remobilisation of mineralisation from a proximal massive sulphide source.
This kind of mineralisation was also intersected in MAD77 and supports the potential for further nickelcopper sulphides within the Stricklands mineral system.
The Hawaii Project is located approximately 50km west of the Sinclair Nickel Project, owned by Talisman Mining Limited, and 90km southwest of Cosmos, owned by Western Areas Limited. Both of these projects were only recently acquired by their current owners and are undergoing major exploration programmes, reflecting the increased focus on nickel sulphide exploration in this area of the Agnew-Wiluna belt.
St George acquired 100% of the Hawaii Project from BHP Billiton Nickel West in October 2015. The Project is located along the Ida Fault, a significant Craton-scale structure that marks the boundary between the Eastern Goldfields Superterrane to the east and the Youanmi Terrane to the west.
The Mt Goode Rift that hosts the Cosmos nickel complex (“Cosmos”) to the north is interpreted to be a splay off the Ida Fault. The geology at Hawaii could be contiguous with the stratigraphy that hosts Cosmos, one of the highest grade nickel mines ever discovered with a resource over 500,000 tonnes of contained nickel.
Reconnaissance shallow aircore drilling completed by BHP Billiton at the Hawaii Project in 2012 discovered over 5km of moderate to high MgO ultramafics adjacent to the Ida Fault. This area was previously interpreted as granite, and the discovery of prospective ultramafics was a significant exploration milestone.
St George is escalating on-ground exploration at Hawaii with drill ready targets for nickel sulphide and gold mineralisation. The figure below illustrates the attractive regional location of the Hawaii Project with major nickel sulphide and gold deposits in this area.
The East Laverton Project is located 230 km north-east of Kalgoorlie, in the under-explored and highly prospective eastern margin of the Yilgarn Craton.
This large and strategically dominant landholding is comprised of a tenement package extending over 2,000 sq km.
This is a frontier exploration location with tremendous potential to host new and significant nickel sulphide, gold and VMS-style base metal deposits.
The map below indicates the regional setting of the East Laverton Project.
The Board of St George Mining is a highly experienced team possessing a broad range of technical, corporate and financial skills as well as a deep understanding of the Australian and global resources industry. The Board is ideally qualified to expertly manage the Company through its strategic establishment and growth phases. As the projects of the Company advance, the Board intends to consider the recruitment of additional management as required.
John Prineas B.Ec LL.B F Fin (Executive Chairman)
John is a founding shareholder and director of the Company. He has over 25 years experience in the banking and legal sectors, including a period as the head of a financial institution in Australia. He commenced his career as a lawyer at Allen, Allen & Hemsley, gaining extensive experience in commercial transactions and corporate advice in both Australia and Asia-Pacific. In 1994, he joined Dresdner Bank AG in Sydney and over the next 10 years occupied the roles of General Counsel, Chief Operating Officer and Country Head with a focus on project and acquisition finance for resources and infrastructure projects as well as associated capital markets and treasury products, including commodities trading. John has a diverse range of high level experience in finance, mining and corporate governance.
Tim Hronsky B.Eng (Geology) Mausimm, MSEG (Executive Director)
Tim is a geologist with over twenty years international experience in the mineral exploration and mining industry, including 15 years with Placer Dome Inc. After graduating from the West Australian School of Mines, Tim began his career in a number of operational roles before shifting to exploration where he was the Exploration Manager (Asia) for Placer Dome. Subsequently he undertook a number of corporate roles related to business improvement, risk management and assurance. More recently, he has been providing consulting services to a range of clients in the global exploration and mining industry.
Formerly, Tim was a founding director of Emmerson Resources (ASX: ERM) and a non-executive director of A1 Minerals Ltd (ASX: AAM).
Sarah Shipway B.Com, CA (Non Executive Director)
Sarah is a Chartered Accountant with extensive experience in advising on ASX company listings, financial reporting, corporate planning and equity and debt funding. Sarah has a Bachelor of Commerce from the Murdoch University and is a member of the Institute of Chartered Accountants.
She was appointed Non‐Executive Director on 11 June 2015 and has been Company Secretary of the Company since 22 March 2012.
The executive directors of St George Mining - John Prineas on right, and Tim Hronsky on left
