viewSt George Mining Ltd

St George Mining drilling in full swing at Mt Alexander Nickel-Copper Sulphide Project

A resource estimate is expected to be finalised at Stricklands in the December quarter with a scoping study to be completed thereafter.

St George Mining Ltd - St George Mining's RC and DD drilling programs underway at Mt Alexander Nickel-Copper-Sulphide Project
Diamond drilling is underway at the Stricklands prospect

St George Mining Ltd’s (ASX:SGQ) reverse circulation (RC) and diamond drilling programs are in full swing at Stricklands prospect within the Mt Alexander Nickel-Copper Sulphide Project in Western Australia.

Metallurgical diamond core holes are underway with 505 metres of planned diamond drilling scheduled for completion this week.

The company said diamond drilling was being carried out continuously in two 12-hour shifts per day while its RC program was conducted in one 12-hour shift per day.

“A hive of activity”

Executive chairman John Prineas said: “Mt Alexander is a hive of activity with both diamond and RC drilling progressing smoothly.

“The modelling of the MT survey data continues to deliver high-quality targets for the potential discovery of nickel-copper sulphides and we are excited to be starting the drilling of these targets this week.

“The scoping study for a mining operation at Mt Alexander is also advancing with important milestones being delivered by the RC drilling and metallurgical holes at Stricklands.”

Drilling focused at Stricklands

A second diamond rig is scheduled to arrive at site shortly and will also operate 24/7 with activity focused at Stricklands prospect.

The resource drill-out of the shallow, high-grade nickel-copper sulphide deposit at Stricklands is being carried out with RC drilling.

More than 1,500 metres of drilling has already been completed and St George is well advanced with a program of six diamond core holes, with an average depth of 80 metres at Stricklands.

Samples for metallurgical test-work

Three of these metallurgical holes have already been completed with the remaining holes due to finish later this week.

Samples from these holes will be used for metallurgical test-work being carried out in Canada.

Once drilling of the Stricklands metallurgical holes is completed this week, diamond drilling of the new MT/AMT conductive targets will begin.

Entech on-site this week

Representatives of Entech, the external geological consultants retained by St George to estimate a maiden JORC-compliant mineral resource at Stricklands, will be on site at Mt Alexander this week.

The estimate will be utilised for the scoping study into a potential starter mine at Mt Alexander, which SGQ believes could be a capex-light, high-margin mining operation.

This estimate is expected to be finalised in the fourth quarter of 2020 with the scoping study to be completed as soon as practicable thereafter.

Director purchases

Company directors have shown their confidence in the company's strategy by participating in the company's $3.6 million share placement plan at 8 cents per share.

Executive chairman John Prineas on June 9 acquired almost 374,000 shares in a direct and two indirect interests and now holds more than 11.338 million shares in the direct interest and almost 1.25 million in the indirect interests.

Non-executive director John Dawson acquired in excess of 299,000 shares in two indirect interests which now hold a combined total of almost 14.9 million shares.

Fellow non-executive director Sarah Shipway acquired 149,479 placement shares in a direct interest which now holds a total of 649,479 shares.

Quick facts: St George Mining Ltd

Price: 0.135 AUD

Market: ASX
Market Cap: $67.98 m

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