St George is nothing like Mt Ridley - Chaulk and Cheese as they say. Referring to Mt Ridley's failure in finding a substantial nickel resource is a very bad example as it severely underrates the quality of the St George board & management, the methodical and thorough approach being applied to the exploration program, the quality of the St George MA tenements, and the quality of what has been discovered so far.
Mt Ridley's board and management were totally incompetent and all over the place and they remain so to this day. I still have shares in Mt Ridley and the board and management remind me every single day of how bloody useless they are. Mt Ridley may have a great tenement but the company has failed to identify anything as they chased many different targets and changed strategy as often as we change our clothes. Sure they did the MT and other surveys like St George has but as I recall they never hit mafic and ultramafic sulphides anywhere near the areas where they were focusing on their deep drilling motherload target. They just kept on drilling 1,000m+ holes with no DHEMs and no positive drilling results. When that failed they then decided to drill shallow in other parts of Mt Ridley and failed, and then did a total flip and decided to drill for Gold and failed.
St George on the other hand, has remained very focused for 4+ years and had many nickel sulphide intercepts at MA. They have been very successful with DHEMs, surveyed the shit out of MA with every technique you can think of, cross referenced and confirmed targets using different proven methods, and enhanced their modelling along the way. They have been following the bread crumbs East West along strike and North South down dip and joining the dots. St George has a proven 80+ intersects of nickel sulphides at Investigations, Stricklands and Cathedrals with some exceptionally high grade and thick massive, disseminated and blebby nickel sulphide intersects. With what St George has discovered so far we can all be very confident the MT / AMT "Road Map" blueprints for Investigators, Stricklands, Cathedrals and most likely Fish Hook, Radar and Fairbridge, should contain nickel sulphide and lots of it as all these prospects are intrusive systems and have delivered nickel sulphides. There is a bloody big Octopus deep down there (or several of them) and imo St George will find them very soon.
Further, you will note that St George has not included as part of this drilling program (not yet anyway), the 100% St George owned tenement to the north of Investigators that showed some very juicy green / yellow colours that extended from surface down to in excess of 3,000m (refer to the figures in the April announcements). The reason is because they have never drilled this area before and before committing to a major drilling program in this area they want to do some stratigraphic holes to prove there is mafic / ultramafic nickel sulphide there - something Mt Ridley never did before they drilled deep.
St George may not hit the sweet spot in the 1st deep hole but several of us are confident they will be successful this drilling program. Shareholders just need to be patient.
As always this is just my opinion and shareholders need to do their own research and make their own decision on whether to buy, hold or sell.
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