St George recently completed drill hole OXRFC003 at the Oxford Prospect, which is the first deep drill hole.
The significant widths of anomalous mineralisation and alteration in OXFRC003 represent a signature typically encountered on the periphery of a large gold system.
The hole encountered the base of the weathered profile at 42 metres (downhole), and then intersected a series of structurally-controlled alteration zones with variably anomalous levels of gold and copper mineralisation.
The alteration zones are present over a significant portion of the drill hole, with anomalous gold and copper values present between 135 metres and the end of the hole at 306 metres.
Adding interest, the gold and copper mineralisation encountered is interpreted to be associated with epigenetic vein-style mineralisation of the type commonly associated with Orogenic gold deposits.
This is an important finding for St George, as this mineralised zone is completely open towards the high priority Ascalon gold target, located 1000 metres to the southeast along the Minigwal greenstone belt.
John Prineas, executive chairman, commented:
"This is very encouraging as it appears to be linked to the Ascalon gold prospect to the immediate southeast, and further validates the potential for this target.
"The first ever drilling at Ascalon will commence in a few weeks."
Drilling costs will be co-funded by a WA Government grant under the Exploration Incentive Scheme.
The Oxford Prospect is situated along the highly prospective yet under-explored Minigwal greenstone belt.
Historical exploration drilling within the prospect area was completed mainly by WMC Resources in the early 1990's.
This drilling was relatively shallow with the majority of drill hole depths being less than 100 metres.
Many of the historical holes intersected anomalous values of copper and gold in the regolith, which defined linear zones of anomalous copper and gold that extend over 1300 metres.
The Ascalon gold target has been identified by St George's technical team in conjunction with Dr Jon Hronsky, chairman of the Centre of Exploration Targeting in Western Australia.
Ascalon already satisfies many of the exploration targeting criteria used to identify potential multi-million ounce gold deposits and the latest drilling data from OXFRC003 further validates the potential.
The largest Orogenic gold deposits are typically situated in the thickest sections of the greenstone belts, where there is better preservation of the most favourable crustal level for the formation of Orogenic gold mineralisation.
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