St George Mining granted additional new gold exploration tenements at Pine Creek

Gold and nickel focused St George Mining (ASX: SGQ) has been granted three additional exploration licenses by the department of Resources (DoR) of the Northern Territory.

Exploration licences EL 28332, EL 28463 and EL 28465 increase the granted tenement area to 1,253.50 square kilometres and the new tenements adjoin EL 27732 on which a large gold system has already been identified.

Significantly, recent uranium and rare earth discoveries by other parties have been made near the new tenements, or Pine Creek Property.

These include the Hayes Creek Project (uranium) of Thundelarra Exploration Limited (ASX: THX), the Quantum Prospect (uranium and rare earths) of TUC Resources Limited (ASX: TUC) and the Cosmo Howley Mine (2+Moz gold) of Crocodile Gold Corp (TSX: CRK).

The company is planning ongoing exploration to investigate the known gold system and the mineral potential of the broader tenement area.

St George Mining, through its wholly owned subsidiary Blue Thunder Resources Pty Ltd, has an 80% interest in these tenements which represent a dominant landholding in the under-explored western part of the richly endowed Pine Creek mineral-field.

The tenement area hosts the company’s Blue Thunder Gold Project and the White Strike Uranium Project.

St George Mining has an ongoing exploration program for its Pine Creek Property which will include diamond drilling in the 2011 field season. After approval of the company’s Mine Management Plan by the DoR, St George will announce further details regarding its exploration activities.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19057/st-george-mining-granted-additional-new-gold-exploration-tenements-at-pine-creek-19057.html