St George Mining (ASX: SGQ) has confirmed extended high-grade mineralisation of nickel, copper, cobalt and platinum group elements at the Stricklands prospect, which lies within the company’s Mt Alexander project in Western Australia.
The nickel and gold-focused explorer today reported assays from recent drilling returning multiple thick intersections of high-grade sulphides along a 400m strike.
Results included a 9.75m intersection grading at 3.46% nickel, 1.76% copper, 0.16% cobalt and 2.26 grams per tonne of platinum group elements from a shallow depth of 43.8m, plus 3.16m at 3.41% nickel, 1.21% copper, 0.15% cobalt and 3.3g/t platinum group elements from 66.18m.
St George executive chairman John Prineas said he was “very pleased” with the assay results.
“The last round of drilling at Stricklands has identified a sizable extension to the mineralised ultramafic, with new high-grade intersections in the west, north and east of the prospect area,” he said.
“The most exciting part is that there is potential for further extensions of the mineralisation with large areas of Stricklands remaining untested,” Prineas added.
The company also noted the potential for deeper mineralisation, as most drill holes were completed within 120m of the surface.
Prineas said a follow-up drilling program is now being designed.
The Mt Alexander project comprises five exploration licences in WA’s Goldfields region. It is located 120km south-southwest of the nickel-prospective Agnew-Wiluna Belt.
The Stricklands, Cathedrals and Investigators nickel-copper-cobalt-platinum group discoveries were all made within licence E29/638, which is held in joint venture by St George (75%) and Western Areas Limited (25%). St George holds the full 100% interest in the other four licences.
Shares in St George were up 16.67% to A$0.14 on the news by afternoon trade.
The company’s shares have flattened since a A$0.48 peak at the start of December, when St George announced an expanded drilling program at the Stricklands prospect.