St. George Mining Updated On Nickel-Copper Sulphide Drilling At Its Mt. Alexander Project

  • Mar 07, 2019 AEDT
  • Team Kalkine
St. George Mining Updated On Nickel-Copper Sulphide Drilling At Its Mt. Alexander Project

St George Mining (ASX: SGQ) announced, a drilling update on Nickel-Copper Sulphide at Mt. Alexander project, which is located 120-kilometre South-Southwest of the Agnew-Wiluna Belt hosting, numerous world-class nickel deposits. It comprises of five granted exploration licenses – E29/638, E29/548, E29/962, E29/954, and E29/972.

Mt Alexander Project

St George Mining Limited (ASX: SGQ) and Western Areas Limited (ASX: WSA) are into a Joint Venture (75% :25%) for the Mt. Alexander Project, located on E29/638, where nickel-copper-cobalt PGE discoveries have been made.

Fairbridge Prospect

New geophysical surveys completed at the undrilled Fairbridge Prospect have confirmed, that within 1,000 metres east-west strike of the Fairbridge Prospect, highly chargeable anomalies have been identified. Several anomalies identified are co-incident with nickel-copper sulphide gossans at the surface. The survey data showed that the mineralized ultramafic units drilled at the Stricklands, and Cathedrals Prospects carried on into the Fairbridge area, and had further stretched, down-plunge to the north. It is expected that drilling at Fairbridge will commence in the coming days.

West End Prospect

The drilling at West End and Investigators Prospects confirmed, extensions of the Cathedrals Belt (Belt) which comprised of completion of six drill holes at the new West End Prospect. All the holes intersected at the west extension of the fault structure, held the mineralized ultramafic, which was under the Belt. Additionally, four extensional drill holes with intercepted and disseminated nickel-copper sulphides are completed at the Investigators Prospect.

Downhole Electromagnetic Surveys

Company’s Downhole Electromagnetic (DHEM) surveys are currently, work in progress. It is concurrently being used, with drilling to find out any conductive targets around completed drill holes. Further, it was reported that surveys on completed drill holes at West End prospect commenced yesterday (6 March 2019). The further drilling is in the planning phase for West End, and Investigators would follow a review of the DHEM survey results.

St. George Mining’s executive chairman, Mr John Prineas stated that the drill programme at Mt. Alexander which comprised of 10 completed drill holes were fully operational. The initial drill results were encouraging, especially after the final modelling of the new conductive targets, at the Fairbridge Prospect. It would give them confidence for further exploration success in their first ever drilling at Fairbridge, which would be commencing from next week.

In a recent update, St. George Mining announced, that administrative office address had been changed to Suite 2, 28 Ord Street, West Perth WA 6005. However, its registered address, and contact numbers would remain unchanged.

On stock information front, St George Mining (ASX: SGQ) shares last traded at A$0.170 (as on March 7, 2019) with the market capitalization of ~$50.68 Mn. Its loss per share was reported at 0.017 AUD. Its 52- weeks high had been noted at A$0.230 and 52- weeks low at A$0.105. Its absolute return for 3 months, 1 year, and 5 years are 17.24%, -15%, and 70% respectively.

Western Areas (ASX: WSA) shares last traded at A$2.360 (as on March 7, 2019) with the market capitalization of ~$645.57 Mn. Its current PE multiple is at 76.13x, and its earnings per share were noted at 0.031 AUD. Its 52- weeks high has been noted at $3.93, and 52- weeks low at $1.835. Its absolute return for 3 months, 1 year, and 5 years are 15.12%, -24.6%, and -31.79% respectively.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK