Shares in ASX-listed St George Mining Ltd. were up 21% at the Sept. 2 market close after the company said it discovered a high-grade nickel-copper sulfide mineralization at shallow depth on the Radar prospect, part of its Mount Alexander joint venture with Western Areas Ltd. in Western Australia.
Drillhole MAD152 intersected a 7.5-meter-thick mineralized interval at a downhole depth of between 44.2 and 51.7 meters. Portable XRF analysis yielded results of 6% nickel and 1.92% copper from 49.07 to 50.01 meters, as well as 5.48% of nickel and 1.77% of copper from 50.05 to 51.6 meters
The discovery is east of the nearest known sulfide mineralization at the Cathedrals prospect. Follow-up drilling is planned once a downhole electromagnetic survey in MAD152 is complete.
The company said the east-west strike of mineralization on the Cathedrals Belt area was extended to 5.5 kilometers, with potential for further extensions at the West End and Fish Hook prospects.
