Today’s St George announcement is huge news for shareholders and something we should all be very excited about –17.28m thick nickel-copper sulphides (disseminated, blebby, heavily disseminated, large blebby) from 242.5m downhole.
DHEM surveys predominantly identify massive sulphides and yet MAD172 did not hit any massive sulphides.This means St George has identified 17.28m of sulphides they were not targeting – a significant bonus hit imo!As per the extracts below the 17.28m does not explain the 25,000 Siemens reading so the massive sulphides are close.What we don’t know is the size of the MAD172 target EM plate and that could be very telling (ie 3 inch drill hole in say a 20 to 40 sqm EM plate or possibly larger means there is plenty of scope for a much more prominent hit).The DHEM in MAD172 will be very telling.
In addition, massive sulphide mines are very rare and there are many very profitable non massive sulphide mines.It is becoming very clear (to me at least) that St George has an abundance of massive and non massive sulphides, particularly at Investigators and Stricklands so far, that will imo prove to be very profitable.Remember St George has and continues to identify many massive sulphide EM plates as well as continues to intersect non massive sulphide and the host ultramafic rocks along the way whilst only targeting massive sulphides – imaging when they start targeting non massive sulphides!
As I’ve said many times, I’m very excited about the down dip North West potential towards the northern border of the Catherdrals Belt and am supper excited the St George team has now confirmed this as a potential source:
- “The intrusive geological model for the Cathedrals Belt proposes that the mafic-ultramafic intrusions that host the nickel-copper sulphides have come from the Earth’s mantle through major east-west orientated faults located in the northern section of the Belt.”
I am also very keen for St George to complete their MLEM and high temperature SQUID sensor surveys at West End as I believe this will show up something equally exciting, if not better, than Investigators given its proximity to the Ida Fault.
Finally, I suggest shareholders ignore what the share price is doing at the moment as there are many games going on.Look at the tone, language, results and interpretations within the last 5 to 6 St George announcements and the interpretations by the many knowledgeable HC posters on this thread.You all need to make your own decisions on whether to buy, hold or sell St George shares based on what it all means but the hints of what’s to come are definitely in the announcements.
Key extracts from today’s announcement with key points highlighted
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- MAD172 establishes a substantial down-plunge extension of high-grade mineralisation with thickness and grade increasing at depth.
- The EM plate targeted by MAD172 is modelled with conductivity of 25,000 Siemens and was predicted to be intersected at 260m downhole. MAD172 intersected thick nickel-copper sulphides from 242.5m to 259.78m downhole.
- The disseminated and blebby sulphides intersected by MAD172 are consistent with mineralisation found close to massive sulphide deposits, supporting the potential for more substantial mineralisation nearby.
- The high conductivity of the EM plate is not fully explained by the style of mineralisation intersected by MAD172, further suggesting potential for stronger mineralisation proximal to the hole.
- Deeper drilling has already confirmed significant down-plunge extensions of the mineralised ultramaficand now – with MAD172 – we have seen the deepest intersection of nickel-copper sulphides at the Cathedrals Belt to date.
- Under the intrusive geological model for the Cathedrals Belt, the larger deposits of mineralisation are likely to be at deeper levels than explored to date, so it is very exciting to see the thickness of nickel-copper sulphides increasing with depth.
- We are increasingly confident that ongoing drilling could discover further significant nickel-copper sulphides down-plunge of the shallow high-grade deposits already established at the Cathedrals Belt.
- Deeper drilling of areas peripheral to the strong surface EM data – including MAD172 – has now confirmed that significant mineralisation continues at depth.
- The intrusive geological model for the Cathedrals Belt proposes that the mafic-ultramafic intrusions that host the nickel-copper sulphides have come from the Earth’s mantle through major east-west orientated faults located in the northern section of the Belt.
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Happy Days Ahead for all holders.
SandyC
(20min delay)