SGQ raises more funds for nickel sulphide project in Western Australia
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
St George Mining Limited (ASX:SGQ) is raising $500,000 via a placement to New City Investment Managers, a London-based global investor.
The funds will be used to continue to explore SGQ’s 100% owned East Laverton Nickel Sulphide Project in Western Australia.
The East Laverton Property is 230 km north-east of the town of Kalgoorlie, in the eastern margin of the Yilgarn Craton, and the tenement extends more than 2,000km2.
SGQ is exploring the site, which has the potential for high-grade nickel sulphide, gold and VMS-style base metal deposits.
Nickel sulphide drilling at East Laverton
SGQ recently completed drilling on the first planned hole at its East Laverton Project, at its Cambridge nickel prospect, where a hole was drilled to a depth of 500m.
This hole was named CAMDD001 and featured 84m of RC (reverse circulation) drilling and 416m of NQ2 diamond core drilling.
Cambridge is 4km by 2km in size and already high MgO has been discovered on the eastern side of the prospect, by RC drilling carried out SGQ and BHP Billiton.
The current diamond drill hole was planned to test these high MgO facies rocks at a deeper level and to define the geometry of this zone.
The geological process and analysis is still ongoing but so far it has been indicated that CAMDD001 has extensive sequences of high MgO ultramafic.
A 132m interval (from 92m to 224m) showed average values of 0.35% Ni and 35% MgO, with the highest nickel value of 0.56% Ni at 133m.
Work ongoing at Cambridge prospect
A second hole at Cambridge is also being drilled, with a target depth of 350m. The two holes will be cased with PVC pipe so that down‐hole electromagnetic surveys can be completed. These results will be used to identify any EM conductors.
John Prineas, Executive Chairman of St George Mining, says “The drilling at Cambridge is very valuable in setting up new targets for what could be a very large prize there.
“We will commence drilling a suite of EM conductors, any one of which could deliver an immediate and very high value outcome.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
