St George Mining Accelerates Rare Earths Hunt at Destiny Project

St George Mining Ltd (ASX:SGQ) is setting the stage for a “significant” greenfields rare earth (REE) discovery at its Destiny Project in the Eastern Goldfields region of Western Australia.

At the centre of the exploration is a high-priority target named ‘C1’ where recent gravity surveys have confirmed a ‘high gravity’ signature in the core of the feature.

Notably, this signature supports the potential for the target to represent a carbonatite or mafic intrusion.

Similar to known mineralised carbonatites

C1 has geophysical characteristics similar to known mineralised carbonatites in Western Australia.

This includes the Mt Weld Project of Lynas Rare Earths (ASX: LYC) and the Luni carbonatite of WA1 Resources (ASX: WA1), which hosts a significant niobium-REE discovery.

SGQ aims to complete the closed gravity surveys at C1 by next month, ahead of the finalisation of drill targets.

At the bourse, the company’s shares have gained significant traction in the last 30 days, up 30% to A$0.026.

SGQ share price chart

Niobium-REE potential

C1 is one of six magnetic features tested by the gravity survey last month.

Four of the six intrusives have now been interpreted to represent late-stage intrusions – potentially carbonatites or mafic intrusions.

Carbonatites are known to be associated with significant REE, niobium, fluorspar and other minerals.

Mafic intrusive bodies are prospective for high-grade nickel, copper and PGEs with examples of major deposits in Western Australia including Nebo-Babel and Nova-Bollinger.

This combination of magnetic and gravity highs supports the potential of the bodies to represent carbonatites and mafic intrusions.

About the target

C1 is a circular-shaped feature in the magnetic data with a diameter of 2.1km.

The recent gravity survey completed at C1 identified a gravity-high core at the feature.

The geophysical signature of a distinctive late-stage circular magnetic body with a gravity-high core confirms C1 as a high-priority target.

The location of C1 abuts the Ida Fault, a major structural zone that could act as a conduit for mantle-derived magma emplaced into the surrounding rocks to form a late-stage intrusion.

This setting further supports the prospectivity of C1.

SGQ executive chairman John Prineas said: “We are prioritising exploration at C1 in light of its similarities to known mineralised carbonatites in Western Australia – such as Mt Weld and Luni.

“The large scale of C1 supports the potential for a significant greenfield discovery, and we look forward to drilling this exciting target soon.”

 

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