SGQ (ASX) Ann: Drilling of Strong EM Conductors at Mt Alexander

Originally posted by SandyC: ↑

Hey @mitis and everyone.

Sorry I haven't replied to Monday's announcement sooner but have been away.

Like everyone else I was disappointed but everyone needs to take a chill pill!

St George did not intersect massive sulphides but like @tiliqua, @Averagejoe2013 and others have already stated the modelling was wrong. IMO this is not surprising because there is lots of sulphides and interference around MAD184 and there could be many pockets of massive sulphides that distorted the readings. What did catch my eye and is something that gives me lots and lots of comfort is that they intersected 5m of disseminated and blebby sulphides in MAD184 and 7m of disseminated and blebby sulphides in MAD192 which I understand was 30m away. MAD184 has 23.2m of mafic / ultramafic host rocks and MAD192 has 30m. Even though they did not intersect the massive sulphides they were targeting I see this latest hit as validating St George's interpretation of the continuity of the mineralisation down dip north west at depth towards the Ida Fault as I commented on in my post of 27 August 20 (attached below) as 100% on the money.

I am guessing that there is a 5m to 7m (maybe thicker) vein that is continuous between MAD184 and MAD192 and the big question is how wide it is and where the massive sulphides are in relation to this vein - maybe they are below it? This could be huge and maybe this next hole will hit it and / or the dhems in MAD192 and MAD193 will zero in on it. In addition, given what they have identified so far I am betting that the 800m between West End and Investigators is continuous with a decent thickness and width of disseminated and blebby sulphides, pges, copper, gold and with a little luck massive sulphides.

In addition, the fact St George did not intersect the massive sulphides that gave out the siemens 49,000 reading and instead hit disseminated and blebby sulphides which do not come up on the dhem readings is extremely positive in my view as this proves there is more disseminated and blebby sulphides than we imagined and still they are yet to hit the massive sulphides they were targeting. From my post on 28 Feb 20 where I referenced the Balmoral Resources site which has since been removed because the company was taken over (I also posted about Balmoral a few times in 2019), massive sulphide mines are extremely rare and the majority of the world's most profitable nickel sulphide mines consist of disseminated and blebby sulphides. St George looks to have an abundance of disseminated and blebby sulphides, pges, gold, copper and has identified lots of massive sulphide pockets. AND, where there is some massive sulphides you can be guaranteed there is lots lots more and St George will soon find it.

This was the content of my post back on 27 August 20 which helps explain how MAD184 and MAD192 tie into what is unfolding:

"The MAD181, MAD182 & MAD183 results look to validate that the many near surface remobilised nickel sulphide intercepts and / or gossans at Investigators, Stricklands, Cathedrals, Fairbrige, and most likely Radar, continue down dip North – North West with less breakup and remobilisation of the mineralisation as you go deeper (ie less Raglan style pockets and more continuation). This can be seen in the announcement's figure 1 (below) which shows the North South x West East 3 dimensional view. To make it easier to interpret, look at figure 3 (also below) for the Investigators mineralisation which is looking West towards the Ida Fault and visualise that this same mineralised downward trend is replicated and connected across all the prospects East of Investigators for 4 km to Radar along this North – North West down dipping plan.

Figure 1

Figure 3

The mineralisation near surface is not connected due to the extensive remobilisations from subsequent fault events that moved the granite rock but with the latest 48m thick mafic-ultramafic intersection in MAD181 from 503.1m downhole where the mineralisation has stayed continuous and preserved with no sign of structural modification, it tells me that what is near the surface got there through these feeders and it was all once connected and continuous.

The announcement also states that the mineralised ultramafic at MAD181 is part of a broader mafic-ultramafic unit and that was also intersected by MAD183 in the same east- west horizon. The distance between these holes is approximately 1,400m, indicating a very significant strike of the mineralised intrusive rocks across the Cathedrals Belt.

If the mineralisation at depth continues to be preserved, unaltered and intact then the down dip mineralisation will in my opinion be more predictable and the modelling and drilling to more sizable sulphide lodes and / or a motherlode discovery will happen sooner than we think."

Also whilst I have plenty of St George shares I could not help myself and purchased more at these bargain basement prices.

Hold tight everyone, sit back and watch it all unfold!

Happy Days Ahead!

SandyC

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Nice post @SandyC Your interpretation makes a lot of sense. Many thanks