St George Mining Ltd (ASX:SGQ) is pressing ahead with a raft of rare earth elements (REE) exploration at the Destiny Project in the Eastern Goldfields of Western Australia.
The company's initial drilling program unveiled a substantial find of clay-hosted REE, with strong total rare earth oxide (TREO) grades recorded in a majority of the drill holes.
Open mineralisation; good past results
The Destiny Project, fully owned by St George, has become a focal point following the discovery of high-grade TREO – greater than 500 parts per million (ppm) – in 42 out of 61 completed drill holes.
One interval clocked in at 2 metres at 5,125 ppm from 32 metres downhole within a broader segment of 26 metres at 2,058 ppm from 24 metres downhole.
The company is particularly buoyed by this discovery, which was along a 7-kilometre-long strike of the Ida Fault, with mineralisation remaining open in all directions and containing a high percentage of the prized magnetic rare earth oxides (MREO) essential for electric vehicle motors.
In light of this find, St George has embarked on follow-up drilling to delineate the near-surface high-grade zones further and has completed an extensive geochemical soil survey covering a 50-square-kilometre area targeting REE and lithium.
Additionally, a new aero-magnetic survey has identified potential large-scale exploration targets, including several prominent circular magnetic features.
These features suggest the presence of carbonatite or mafic-ultramafic intrusions which could be the source of the REE mineralisation.
The company has also expanded the tenure of the Destiny Project with the grant of Exploration Licence E63/2350, covering an additional 200 square kilometres along the Ida Fault.
This extension will increase the project's potential for hosting a broad range of mineralisation, including lithium and REE.
Potential scale
Executive chair John Prineas said: “We are excited to be drilling again at the Destiny Project with a clear target to further scope out the extent of the high-grade REE mineralisation we discovered just a few months ago.
“The potential scale of Destiny is impressive with mineralisation already confirmed along a 7-kilometre stretch of the Ida Fault zone, with a further 70 kilometres of prospective geology exposure within the project yet to be drill-tested.
“The mineralisation contains a high proportion of magnetic rare earths – which are highly sought after for application in clean energy solutions – to add to the attractiveness of the project.
“Work is also underway to investigate newly identified large, circular magnetic features at Destiny. These are located proximal to the Ida Fault, a regional-scale crustal shear zone that could have acted as the conduit for late-stage intrusions like carbonatites.
“We look forward to reporting exploration results, including from this follow-up drill program and assays from the just-completed augur campaign, in due course.”