St George flags Paterson greenfields discovery

Western Australian nickel and gold explorer St George Mining has reported strong exploration results from the Paterson project in Western Australia.

St George completed an airborne magnetic survey which identified prominent magnetic features that represented key stratigraphic units and granite extrusions.

These discoveries are similar to those that are known to host major precious metals and base metals discoveries in the region, the company stated.

This result is the latest in a series of precious metal discoveries in the Paterson region, including copper-gold mineralisation at Rio Tinto’s Winu project and copper-gold deposits at Greatland Gold’s Haverion project.

St George’s Paterson project covers more than 35 kilometre strike of prospective stratigraphy, with potential similarities to the stratigraphy that hosts Winu’s mineralisation.

St George chairman John Prineas said the results from the exploration had exceeded the company’s expectations with multiple areas of interest identified.

“Our Paterson project is shaping up as an outstanding opportunity to make a greenfields discovery,” he said.

St George is now planning for its drilling program this year, having applied for Western Australian Government’s Exploration Incentive Scheme (EIS), which provides co-funding for exploration drilling up to a prescribed capped amount.

The company has also continued exploration at its flagship Mt Alexander project in Western Australia, which identified multiple intersections of high grade nickel-copper sulphides.

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