From Argonat todaySt George Mining (SGQ) | Stepping out at Mt...

From Argonat today

St George Mining (SGQ) | Stepping out at Mt Alexander | SPEC BUY Analyst | Matthew Keane

Market Cap $49m | Current Price $0.17 | No Target Price

A step out drilling program is underway within the Cathedrals Belt, part of the Mt Alexander Nickel Project in Western Australia This program is largely focussed on new target areas which historically did not have strong surface EM anomalies
Key target areas include:

• Fairbridge, between the Stricklands and Cathedrals high grade discoveries,

• Between the Stricklands and Investigators discoveries, and

• The West End prospect, west of Investigators heading to the geological truncating Ida Fault
  The Fairbridge area has a strike of 1,000m and is littered with surface gossans, some coincident with surface EM signatures Drilling between Stricklands and Investigators intercepted the right host ultramafic geology and disseminated sulphides Downhole EM will now refine targets in these areas
  At West End, downhole EM has identified two off-hole conductors which appear coincident with a surface SAMSON EN conductor
  We highlight that there have been virtually no false positive EM conductors at the Cathedrals Belt will nearly all plates have returned massive Ni-Cu-PGE sulphides when drilled
  We are highly encouraged by the current strategy to step out of known mineralised zones to potentially extend the scale of the project
  A Maiden Resource should be achievable by late-2019. Argonaut estimates a potential inventory of 84kt contained Ni Eq at a grade of ~4% Ni Eq