Further high-grade rare earths and niobium results for St George - ICYMI
St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) recently reported further high-grade rare earths and niobium results from ongoing diamond drilling at the Araxá Rare Earths and Niobium Project in Brazil, reinforcing the project’s potential scale and development prospects. Executive chairman...
St George Mining Ltd(ASX:SGQOTC:SGQMF) View Price & Profile Further high-grade rare earths and niobium results for St George - ICYMI
Published: 19:00 20 Mar 2026 EDT
St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) recently reported further high-grade rare earths and niobium results from ongoing diamond drilling at the Araxá Rare Earths and Niobium Project in Brazil, reinforcing the project’s potential scale and development prospects.
Executive chairman John Prineas said the latest results, comprising 16 drill holes, continued to demonstrate thick zones of mineralisation from surface to depths of around 160 metres. He noted that multiple holes intersected more than 100 metres of high-grade rare earth mineralisation, with grades broadly in line with the company’s existing resource.
Prineas highlighted that grades typically sit around 4% total rare earth oxides, with some intervals significantly higher. He stated that results reached “up to about 24% in some cases,” underlining the presence of high-grade zones within the broader system.
He added that these grades compare favourably with global peers, referencing Lynas Rare Earths’ Mount Weld operation, which has a similar head grade. Prineas said this positioned Araxá as comparable to one of the largest rare earth producers outside China.
In addition to rare earths, the company continues to report strong niobium mineralisation, supported by the project’s location within the Barreiro carbonatite complex, adjacent to CBMM’s operations.
Key Highlights
16 diamond drill holes confirm thick, high-grade rare earth mineralisation Intercepts from surface to ~160m, with >100m mineralised zones Grades typically around 4% TREO, with peaks up to 24% Strong niobium mineralisation across the project Comparable grades to Lynas’ Mount Weld operation Resource continues to grow, with additional drill results pending inclusion Project located in Brazil’s Barreiro Carbonatite, near CBMM Historical study indicated US$960M NPV and 20-year mine life Shift toward development with tight drill spacing for reserves Appointment of Carla Grasso to lead resource and mine planning Backed by funding from Hancock to support development pathway
Proactive: Welcome back to Proactive Investors. I'm your host, Kerry Stevenson. As John Prineas joins us again, he is Executive Chairman of St George Mining. It’s the gift that just keeps on giving — more high-grade results and more plans to move towards development at the Araxá Project in Brazil. John, what’s the latest news?
John Prineas: It’s a very exciting week for us. We’ve had an announcement every day this week and may have a couple more. Today is all about more drill results — 16 holes from our diamond drill program, from surface down to about 160 metres. Many holes show more than 100 metres of high-grade rare earths, most around the 4% level, which is our resource grade, but up to about 24% in some cases. We’re also seeing very high niobium.
Proactive: For those unfamiliar, how do those grades compare to peers?
John Prineas: If you look at Lynas and the Mount Weld operation, the head grade is about 4% TREO. That’s basically the same as what we have. There are spikes in our drill results as well, so we are very comparable to one of the largest producers outside China.
Proactive: Is the deposit similar in style?
John Prineas: Yes, it’s a carbonatite-hosted hard rock system. The rare earth mix is similar, with strong light rare earths and some heavy rare earths. In terms of size, we’re growing — currently around 70 million tonnes of rare earths and 93 million tonnes including niobium. Lynas has about 160 million tonnes, so we are catching up. We also have more holes yet to be included in the resource.
Proactive: Why were you confident this could be a world-class deposit?
John Prineas: The previous owner focused on phosphate, but a 2012 study already showed strong rare earth potential, including a 20-year mine life and an NPV of US$960 million. We recognised the opportunity early and acquired it before the critical minerals boom.
Proactive: You’ve also made a new appointment?
John Prineas: Yes, we’ve appointed senior resource geologist Carla Grasso. She has experience with neighbouring operations and will lead resource modelling, reserve estimation and mine planning. We’re now fully focused on development.
Proactive: And funding?
John Prineas: We’re well funded following investment from Hancock, which supports us through to a final investment decision.
Proactive: More news coming?
John Prineas: Yes, more development-focused updates as we advance the project.