St George Mining Ltd (ASX:SGQ) is enthusiastic about new prospects at its Destiny Project in Western Australia that may lead the way to niobium, rare earth elements (REE), nickel, copper and platinum group elements (PGE).
The discovery comes as part of ongoing exploration efforts aimed at unlocking the project's full mineral potential.
Gravity survey uncovers features
The company's gravity survey program, covering six prominent magnetic features within the Destiny Project, has yielded promising results.
Four of these magnetic features exhibit a high gravity signature, indicating the potential presence of intrusions such as carbonatites or mafic intrusions.
These intrusive types are globally recognised for hosting a raft of critical minerals and base metals.
The circular-shaped magnetic features, ranging from 900 metres to 2.7 kilometres in diameter, were identified through a detailed magnetic survey conducted by St George in late 2023.
These features are strategically located near the Ida Fault, a regional crustal suture that could serve as a conduit for intrusions.
This proximity, coupled with evidence of structural disruption in the surrounding greenstone/granite belt, supports the interpretation of these targets as prospective intrusives.
Of particular interest are two features at Destiny which have characteristics akin to known mineralised carbonatites in Western Australia, such as Lynas Rare Earths' Mt Weld Project and WA1 Resources' Luni carbonatite.
High-grade REE confirmed
St George's recent drilling efforts have already confirmed high-grade REE mineralisation associated with the Ida Fault, further emphasising the project's potential.
The company plans to conduct grid-spaced gravity surveys over the identified targets and schedule drilling activities early in the second half of 2024 to further assess and potentially unlock the mineralisation potential at Destiny.
No effective historical drilling has thus far tested the coincident magnetic/gravity features, which presents exciting drill targets for niobium, REE and nickel-copper-PGEs.
St George Mining chair John Prineas said: “As part of the systematic exploration of the Destiny Project, a gravity survey was recently completed to assess the density characteristics of six discrete magnetic features – none of which has been drilled.
“The survey indicated that four of the six magnetic features presented as ‘gravity highs’ – a combination that is common for mafic intrusions and carbonatites.
“Significantly, these features are within a major structural corridor close to the Ida Fault – a major crustal suture zone.
“This combination of high gravity signatures, magnetic geometry and geological setting at Destiny warrants further investigation to determine the potential for any mineralisation to be associated with these distinctive geophysical features.
“These targets are relatively easy to explore and we consider they have potential for high-grade discoveries, such as niobium-REE mineralisation or nickel;-copper-PGEs.
“Drilling has been prioritised to test these new targets and we look forward to providing exploration updates as we advance this promising development.”