St George Mining fires up drill rigs for first | Australian Markets

St George Mining has begun its first drilling marketing campaign on the Araxa niobium-rare earth components project in Brazil.

On Wednesday the WA explorer mentioned it had more than 10,000m of auger, reverse circulation and diamond drilling deliberate throughout 12-16 weeks.

St George mentioned mineralisation was open in all instructions, with important mineralisation under 100m from floor not but included within the present mineral useful resource estimate.

The company mentioned this meant there was potential for a “substantial increase in the already globally significant resource” of 41.2 million tonnes at 0.68 per cent niobium pentoxide and 40.64Mt at 4.13 per cent whole uncommon earth oxide.

St George secured possession of Araxa within the Brazilian State of Minas Gerais in February after saying its intention finally yr’s Diggers & Dealers Mining Forum in Kalgoorlie-Boulder.

Executive chairman John Prineas mentioned the project had already delivered more than 500 intercepts of high-grade uncommon earths and niobium from previous drilling, and St George was anticipating so as to add considerably to this tally by the time the drilling marketing campaign was accomplished.

“The Araxa project has many competitive advantages that make it a standout project in the rare earths and niobium space,” he mentioned.

“Mineralisation starts from surface and is free-digging, supporting a potential low-cost open-pit mining operation.

“The project is in an established mining region with well-understood permitting and environmental management, providing an expedited pathway to potential development and strong ESG credentials.

“Araxa’s key feature, of course, is the large, high-grade resource — an enviable development opportunity at a time when global economies are scrambling to establish new supply chains for critical metals, particularly magnet rare earths.

“One of the largest-producing hard-rock rare earths mines outside of China is the Mt Weld mine owned by the $8 billion Lynas Rare Earths, with a total resource of 106Mt at 4.1 per cent TREO.

“St George’s Araxa project already has a total JORC resource of 40.64Mt at 4.13 per cent TREO, illustrating the potential value upside for St George as we progress through development studies and resource expansion drilling to demonstrate the potential for a commercial rare earth mining operation.

“At a time when investors are increasingly looking to Brazil for the next generation of quality hard-rock rare earths and niobium development opportunities, Araxa is in pole position to deliver sustained value for St George shareholders.”