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Mining Capital
EPIC: SGQ
Market: ASX
52-week High/Low: A$0.19 / A$0.09
Sector: Mining
Market Cap: A$23.03M

St George Mining Ltd (ASX:SGQ) is a nickel and gold focused exploration company with a dominant landholding in an under-explored area of the North East Goldfields of Western Australia.

St George Mining Ltd

www.stgeorgemining.com.au

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St George Mining Ltd Snapshot

St George Mining Limited is a mining exploration company focused on creating shareholder value through the discovery of world class deposits.

Our flagship asset is the 100% owned East Laverton Property in the North-Eastern Goldfields region of Western Australia.

The East Laverton Property covers an area that is prospective for nickel sulphide, VMS-style base metal and gold deposits.

The project area extends over 2,000 sq km and encompasses three extensive ultramafic-greenstone belts with a total strike length of more than 130km.

Exploration drilling by St George and BHP Billiton Nickel West (in 2012 under a now concluded farm-in deal) discovered nickel sulphides at East Laverton, confirming the strong potential for the discovery of significant massive nickel sulphide deposits.

St George has established a large pipeline of prospects that provides considerable exploration upside for the company at East Laverton.

This substantial exploration project has now entered into an exciting new phase, where ongoing drilling of high-value targets could result in a major discovery.

East Laverton Overview

This large and strategically dominant landholding is comprised of a tenement package extending over 2,000 sq km
.

The East Laverton Property is located 230 km north-east of Kalgoorlie, in the under-explored and highly prospective eastern margin of the Yilgarn Craton.

This large and strategically dominant landholding is comprised of a tenement package extending over 2,000 sq km.

This is a frontier exploration location with tremendous potential to host new and significant nickel sulphide, gold and VMS-style base metal deposits.

The map below indicates the regional setting of the East Laverton Property.


Nickel Sulphides: East Laverton


Recent exploration work at the East Laverton Property has recognised the significant potential for large scale nickel sulphide mineralisation.

Drilling results in 2012 showed multiple occurrences of magmatic nickel and PGE sulphides over a broad area of the East Laverton Property, confirming the fertility of the extensive ultramafic belts at the project for nickel sulphide mineralisation.

There a three main ultramafic belts at the project with a total strike length of more than 130km - the Stella Range belt, the Central belt and the Minigwal belts.  Each of these is highly prospective for nickel sulphide deposits.

There are many ultramafic occurrences throughout the Yilgarn Craton of Western Australia but only a small number of these are fertile and potential hosts for nickel sulphide mineralisation. The better known fertile ultramafic belts are at Agnew-Wiluna, Forrestania and Kambalda.

The MgO rich ultramafic rocks at East Laverton are compositionally very similar to the ultramafics at the Agnew-Wiluna belt, the most significant nickel belt in Western Australia with several world class nickel sulphide deposits. This important feature suggests that the East Laverton Property could host nickel sulphide mineralisation on a scale similar to Agnew-Wiluna.

St George is continuing systematic nickel exploration at East Laverton and has established a strong pipeline of prospects, several of which have drill ready targets.

A key part of St George’s exploration strategy has been an investment in a regional scale moving loop ground electromagnetic survey.  This is being managed by Newexco, highly respected geophysical consultants with a track record of major nickel discoveries.

St George has an ongoing drilling programme to test high priority targets for nickel sulphides, including the drilling of electromagnetic (EM) conductors as well as geological targets based on known zones of nickel sulphides.

The map below of the tenements at the East Laverton Property highlights the key nickel sulphide prospects and the widespread occurrence of significant intersections of magmatic nickel sulphides and komatiite ultramafics.



VMS Deposits at the East Laverton Property

Early drilling at the East Laverton Property intersected thick sulphidic exhalative sediments with elevated zinc and copper mineralisation, confirming this was the right environment for VMS (volcanogenic massive sulphide) deposit.

In June 2014, a thick mineralised interval of 19.25m @ 0.35% Zn and 0.1% Cu in drill hole DDD011 provided further support of the potential for a VMS discovery at East Laverton.

The continuity of the grades and the thickness of this interval make this a significant base metal intersection at the East Laverton Property.

VMS deposits and komatiite nickel deposits are seen as “proxies” for each other because they both form in similar tectonic settings. The potential for VMS mineralisation at the project is therefore validated by the established presence of nickel sulphides at East Laverton.

VMS deposits have a zoned alteration profile, and this assists in understanding where a single drill intersection is situated within the wider mineral system.

The figure below illustrates a conceptual section through a VMS deposit showing typical mineralised zones. Drill hole DDD011 is consistent with a marginal zone of the VMS system.


Gold at the East Laverton Property

St George Mining has identified a number of promising gold prospects at East Laverton through its initial reconnaissance exploration.

The East Laverton Property is surrounded by the 20+ MozAu Laverton Goldfield to the west, the 7+ MozAu Tropicana gold deposit to the east, and the 5+ MozAu Yamarna Goldfield to the north (see Figure 1).

The fundamental crustal architecture present in all the major goldfields of Western Australia’s NE Goldfields region is also present at East Laverton.

Important trans-lithospheric (mantle-piercing) structures that act as major magma pathways for mineralisation, are illustrated at East Laverton by the extensive presence of the primitive mantle-derived high MgO komatiites.

St George Mining has identified a number of promising gold prospects at East Laverton through its initial reconnaissance exploration.

The Desert Dragon, Balmoral and Athena gold prospects all occupy favourable structural and geological settings and have large associated gold soil anomalies.

Previous reconnaissance gold exploration and shallow drilling at the project has encountered zones of alteration, disseminated sulphides and low-grade gold intersections.

The consistency of gold mineralisation over such a broad area supports the presence of large gold systems at East Laverton.

The map below illustrates the favourable regional location of the East Laverton Property, surrounded by landmark gold deposits – the 10+ Moz Au Sunrise Dam deposit to the west, the 7+ Moz Au Tropicana gold deposit to the east, and the 5+ Moz Au Yamarna Goldfield of Gold Road Resources to the north.


Figure 1


Lake Minigwal Project


The Lake Minigwal Project covers a concealed greenstone belt which is prospective for both gold and nickel sulphides, and represents a significant exploration opportunity.

The Lake Minigwal Project covers an area of concealed and unexplored greenstones, which are prospective for both gold and nickel sulphide mineralisation.

In March 2010, the GSWA (Geological Survey of Western Australia).conducted the East Wongatha regional geochemistry program, covering an area covering approximately 13,000 sq km in the south-east of the Yilgarn Craton.

The strongest and largest gold anomaly identified by this regional survey was located to the immediate south-west of St George Mining’s East Laverton Property. Two new exploration licences covering this area were secured by St George Mining, and comprise our Lake Minigwal Project.

The total tenement area of this Project is approximately 300 sq km.  The proximity to the East Laverton Property allows exploration in this new area to benefit from the synergies and efficiencies related to the Company’s established operations at East Laverton.

There is a strong coincidence between high gold geochemical values identified by the GSWA survey, the structural setting interpreted by the airborne magnetics and the underlying rocks - which appear to be a covered greenstone belt.

The greenstone belt appears to be a strike extension of the Wongatha and Minigwal greenstone belts to the south, which host nickel sulphides at the Mulga Tank nickel sulphide project.

St George Mining believes that this large section of unexplored greenstone belt, prospective for gold and nickel, represents an excellent exploration opportunity.





Last updated 30th October 2015.

John Prineas
Executive Chairman
B.Ec LL.B F Fin

John has over 24 years experience in the banking and legal sectors, including a period as the head of a financial institution in Australia. He commenced his career as a lawyer at Allen, Allen & Hemsley, gaining extensive experience in commercial transactions and corporate advice in both Australia and Asia-Pacific. In 1994, he joined Dresdner Bank AG in Sydney and over the next 10 years occupied the roles of General Counsel, Chief Operating Officer and Country Head with a focus on project and acquisition finance for resources and infrastructure projects as well as associated capital markets and treasury products, including commodities trading. John has a diverse range of high level experience in finance, mining and corporate governance.


Tim Hronsky
Executive Director
Mausimm, MSEG

Tim is a geologist with over twenty years international experience in the mineral exploration and mining industry, including 15 years with Placer Dome Inc. After graduating from the West Australian School of Mines, Tim began his career in a number of operational roles before shifting to exploration where he was the Exploration Manager (Asia) for Placer Dome. Subsequently he undertook a number of corporate roles related to business improvement, risk management and assurance. More recently, he has been providing consulting services to a range of clients in the global exploration and mining industry.

Formerly, Tim was a founding director of Emmerson Resources (ASX: ERM) and a non-executive director of A1 Minerals Ltd (ASX:AAM).


Sarah Shipway

Non Executive Director
B.Com, CA

Sarah is a Chartered Accountant with extensive experience in advising on ASX company listings, financial reporting, corporate planning and equity and debt funding.

Sarah has a Bachelor of Commerce from the Murdoch University and is a member of the Institute of Chartered Accountants.

She was appointed Non‐Executive Director on 11 June 2015 and has been Company Secretary of the Company since 22 March 2012.

 



The executive directors of St George Mining - John Prineas on right, and Tim Hronsky on left





Last updated 30th October 2015.

Directors
John Prineas - Executive Chairman
Tim Hronsky - Executive Director
Marcus Michael - Non-Executive Director

Share Registry

Computershare Investor Services Pty Ltd
Level 2, Reserve Bank Building
45 St Georges Terrace
PERTH WA 6000

Company Secretary
Sarah Shipway

Solicitors to the Company
Steinepreis Paganin Lawyers and Consultants
Level 4, The Read Buildings
16 Milligan Street
PERTH WA 6000

Accountant
Marshall Michael Chartered Accountants
Level 1, 115 Cambridge Street
WEST LEEDERVILLE WA 6901

Auditors
Stantons International
1st Floor, 1 Havelock Street
WEST PERTH WA 6005

Independent Geologist
Malcolm Castle
Consulting Geologist
PO Box 473
SOUTH PERTH WA 6951




Last updated 30th October 2015.

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