{"id":6836,"date":"2024-03-07T01:58:00","date_gmt":"2024-03-07T01:58:00","guid":{"rendered":"https:\/\/economicherald.net\/?p=6836"},"modified":"2024-03-07T01:58:00","modified_gmt":"2024-03-07T01:58:00","slug":"could-it-be-st-george-minings-destiny-to-prove-up-a-new-major-ree-deposit","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6836","title":{"rendered":"Could it be St George Mining\u2019s Destiny to prove up a new major REE deposit?"},"content":{"rendered":"<p>REE mineralisation up to 42m thick and up to 5,125ppm was intersected at Destiny<br \/>\n7km-strike identified and open in all directions<br \/>\nFollow-up drilling now under way<br \/>\nSt George Mining recently granted an additional 200km2 exploration licence<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong><strong> St George Mining has kicked off follow-up drilling at its high-grade Destiny discovery where it recently intersected &gt;500ppm total rare earth oxides (TREO) in 42 out of 61 drill holes. <\/strong><\/p>\n<p>The Destiny REE project in the Eastern Goldfields covers a whopping 3,350km2 in the Coolgardie mineral field, spread across &gt;110km of the Ida Fault, a major crustal-bounding structure which <a href=\"https:\/\/stockhead.com.au\/company\/st-george-mining-sgq\/\"><strong>St George Mining (ASX:SGQ)<\/strong><\/a> considers to be highly prospective for REE and lithium mineralisation.<\/p>\n<p>Other major deposits along the Ida Fault include <a href=\"https:\/\/stockhead.com.au\/company\/liontown-resources-ltr\/\"><strong>Liontown Resources\u2019 (ASX:LTR)<\/strong><\/a> Kathleen Valley lithium mine and <a href=\"https:\/\/stockhead.com.au\/company\/delta-lithium-dli\/\"><strong>Delta Lithium\u2019s (ASX:DLI)<\/strong><\/a> 12.7Mt Mt Ida lithium project.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Drilling Destiny <\/strong><\/h2>\n<p>SGQ\u2019s maiden drill program late last year delivered a <a href=\"https:\/\/stockhead.com.au\/resources\/date-with-destiny-st-george-makes-high-grade-rare-earths-discovery-in-wa\/\"><strong>breakthrough discovery of clay-hosted REE mineralisation<\/strong><\/a>.<\/p>\n<p>High-grade TREO (&gt;500pm) was intersected in 42 out of the 61 drill holes, with a peak value of 2m @ 5,125ppm from 32m within a broader 26m @ 2,058ppm from 24m downhole.<\/p>\n<p>Not only that, near-surface high-grade REEs were confirmed along a 7km-long strike of the Ida Fault, with mineralisation open in all directions.<\/p>\n<p>High-value magnetic rare earths (MREO) such as neodymium and praseodymium used in magnets for EVs made up an average 19% of TREO across all 61 holes.<\/p>\n<p>Follow-up drilling is now under way to test the continuity of the mineralisation with a minimum of 26 AC drill holes for &gt;1,000m.<\/p>\n<p>\u00a0<\/p>\n<p>Previous and ongoing drilling locations across the Ida Fault at Destiny. Pic: Supplied (SGQ)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>More potential targets and land expansion<\/strong><\/h2>\n<p>A review of magnetic data over the northern portion of Destiny has identified six distinctive, circular magnetic features each up to a diameter of 2.5km.<\/p>\n<p>SGQ says it\u2019s an exciting greenfield exploration opportunity with similarities to known mineralised carbonatites in the region, including the Mt Weld REE mine operated by the pioneering <a href=\"https:\/\/stockhead.com.au\/company\/lynas-lyc\/\"><strong>Lynas Rare Earths (ASX:LYC)<\/strong><\/a>.<\/p>\n<p>Ground gravity surveys are being planned across each target to determine if they are associated with REE mineralisation.<\/p>\n<p>Auger soil surveys were also conducted over a 50km2 area, with 735 samples collected and shipped off to the lab for analysis.<\/p>\n<p>Late last month, exploration license E63\/2350 was granted to SGQ, adding a further 200km2 to the project and straddling an extra 20km of the Ida Fault, which Destiny now covers &gt;110km.<\/p>\n<p>Mapping, outcrop sampling and soil surveys are due to be scheduled to define potential drill targets.<\/p>\n<p>\u00a0<\/p>\n<p>The Destiny tenements with the new E63\/2350 exploration license and surrounding projects. Pic: Supplied (SGQ)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018The potential scale of Destiny is impressive\u2019<\/strong><\/h2>\n<p>\u201cWe are excited to be drilling again at Destiny and have a clear target to further scope out the extent of the high-grade REE mineralisation we discovered just a few months ago,\u201d SGQ executive chair John Prineas says.<\/p>\n<p>\u201cThe potential scale of Destiny is impressive with mineralisation already confirmed along a 7km-stretch of the Ida Fault zone, with a further 70km of prospective geology exposure within the project yet to be drill-tested.<\/p>\n<p>\u201cThe mineralisation contains a high proportion of magnetic rare earths \u2013 which are highly sought after for application in clean energy solutions \u2013 to add to the attractiveness of the project.<\/p>\n<p>\u201cWork is also under way to investigate newly identified large, circular magnetic features at Destiny.<\/p>\n<p>\u201cThese 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.<\/p>\n<p>\u201cWe look forward to reporting exploration results, including from this follow-up drill programme and assays from the just-completed auger campaign, in due course.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with St George Mining, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/could-it-be-st-george-minings-destiny-to-prove-up-a-new-major-ree-deposit\/\">Could it be St George Mining\u2019s Destiny to prove up a new major REE deposit?<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>REE mineralisation up to 42m thick and up to 5,125ppm was intersected at Destiny 7km-strike identified and open in all directions Follow-up drilling now under <a href=\"https:\/\/economicherald.net\/?p=6836\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6837,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Could it be St George Mining\u2019s Destiny to prove up a new major REE deposit? 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