St George Mining has secured additional funds to expand its exploration programme at the nickel-copper sulphide project at Mt Alexander in Australia.
A major drill programme is expected to begin this month, according to the miner. Some 42 EM conductors have been prioritised for drilling.
"This expansion of exploration follows St George receiving firm commit-ments for a placement of its ordinary shares to raise $3 million," St George Mining said in a statement. "Strong investor support for the Placement highlights the rarity of projects like Mt Alexander – a high‐grade nickel‐copper sulphide discovery located in a tier one mining jurisdiction – and the potential for St George’s upcoming drill and exploration programmes to deliver significant value."