The Paterson Province is one of the most highly endowed mineral provinces in Australia, and hosts the giant Nifty (2Mt Cu) and Telfer (27M oz Au) deposits.
The region remains underexplored with a number of significant copper and gold discoveries recently announced including at Rio Tinto’s Winu Project and at the Havieron Project being explored in joint venture by Greatland Gold and Newcrest.
These latest discoveries have fueled strong interest in the Paterson Province from major mining companies such as Fortescue Metals (ASX: FMG), Rio Tinto (ASX: RIO), IGO (ASX: IGO) and Newcrest Mining (ASX: NCM) – ensuring that the region is re-emerging as a highly sought after exploration address with potential for world-class discoveries.
St George’s exploration licence E45/5226 covers more than 35km strike of prospective stratigraphy, with potential similarities to the stratigraphy that hosts the mineralisation at Winu, Nifty and Telfer.
Drilling by St George has confirmed the presence of chalcopyrite and metasediments, the lithology known to host base metal mineralisation in the Paterson region.
Follow-up exploration comprising geophysical surveys and more drilling is planned.