(MENAFN - ProactiveInvestors - Australia) Western Australia based St George Mining (ASX: SGQ) has used an infill MMI soil geochemical survey to identify anomalous and coincident heavy and light rare earth element values at the Red Dragon prospect.
The prospect in located on the company's East Laverton Property in the NE Goldfields region of Western Australia.
St George said that the high priority area forms an ovoid shape measuring 2 kilometres by 1.5 kilometres, which is situated within a large carbonatite alteration system covering over 60 square kilometres.
The company now has high priority targets for drilling in the June quarter of 2013, with the reconnaissance program at Red Dragon to include four reverse circulation holes each with a target depth of 250 metres.
St George is targeting to establish a third dimension to the extensive carbonatiteREE surface alteration system which is indicated by the current geochemical and geophysical signature.
Government Drilling Grant
St George has also been awarded a grant of 122,000 to be applied towards the direct drilling costs of the drilling, which is under the West Australian Government's "Innovative Drilling Program" within its Exploration Incentive Scheme.