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The $11M market cap explorer St George Mining Limited (ASX:SGQ) is in the midst of a high impact drill campaign for massive nickel sulphide deposits.

Drilling is set to take seven weeks to complete.

In that time any one of the seven drill targets could deliver a game changing nickel discovery.

1 hole has already been drilled, and there are at least six more to go.

The next hole will be finished in the coming days, and then the highest value suite of SGQ’s electromagnetic conductors will be drilled into.

We could hear of a successful drill result in days – an almost immediate outcome that could deliver high value to SGQ shareholders.

Though not common, almost nothing stimulates the market more than a big nickel find from a small explorer.

We have seen it before from the likes of Sirius and the Nova discovery.

SGQ is gunning to repeat Sirius’ success at its 100% owned East Laverton Nickel Sulphide project and create Australia’s newest nickel province.

SGQ’s East Laverton Nickel Sulphide Project covers a contiguous 2,000km² with three ultramafic belts of over 130km strike length that were previously explored by BHP Billiton.

SGQ has spent years setting this event up and right now, over 2,500m of drilling is underway with seven pinpointed textbook targets to be hit.

SGQ’s strong EM conductors – modelled by Newexco – give off readings consistent with massive nickel sulphide deposits – and they are set to be drilled in the coming days.

Newexco are the same elite nickel experts behind Sirius’ transformative Nova discovery in Western Australia’s Fraser Range.

The company has just received $1.5M through an oversubscribed capital raise, plus a further $500,000 from a UK investment trust to tackle this drilling campaign, so there is already strong market interest in SGQ’s chances.

With nickel drilling underway right now and results set to flow over the coming days and weeks, SGQ is exactly the kind of stock Catalyst Hunter looks for:

SGQ: Imminent Drill Results Could be a Major Catalyst

The drilling of seven high impact nickel sulphide targets at East Laverton has begun by SGQ. Here are the finer details:

• SGQ is RC and diamond drilling to test up to seven massive nickel sulphide targets comprising over 2,500m of drilling over seven weeks;

• The first hole has been drilled, the second is underway now;

• In the coming days, the high value EM conductors will be drilled into. These were identified by nickel experts Newexco within source rocks and geological settings that typically hold massive nickel sulphides;

• All in all, prospects are spread across 130km of strike – a discovery here could open up a whole new nickel province;

• SGQ’s small market cap of $11M, plus a tightly held share register means SGQ is highly leveraged to success in case of a positive result.

• SGQ’s Top 20 shareholders hold 47%, the top three hold 24% and management holds 13% – all with significant skin in the game.

SGQ’s 2015 drilling campaign is designed to maximize its chances of one or more massive nickel finds – and it’s happening right now.

That’s the big picture look at SGQ – and it certainly fits in with the Catalyst Hunter requirements:

Read on for some more in depth information about SGQ and its drilling activities underway right now with results on the horizon…

Our previous Catalyst Hunter stock

Since our previous article on Stonehenge Metals (ASX:SHE) Wave Energy Technology Deal Complete, SHE has risen over 750%:

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

SGQ: The timing – drilling now, results over coming days and weeks

SGQ’s aggressive drilling campaign over seven weeks will include a steady stream of results on each drill hole:

• Any one of SGQ’s seven target could deliver a company making nickel sulphide discovery;

• Results from drilling are expected to be released as SGQ progresses, creating constant anticipation throughout the drilling campaign with multiple chances at success;

• The final drill target, an exceptionally strong EM conductor, represents perhaps the most potential for a discovery – this target will be aimed for in the coming weeks.

SGQ: High impact nickel targets

SGQ and BHP Billiton confirmed the nickel potential of East Laverton through initial drilling in 2012.

35 RC holes for 8,560m were plunged into the ground in 2012, with 28 holes identifying komatiites ultra-mafics.

Seven main nickel sulphide targets were established, and are the subject of drilling right now.

The main area of interest is the Stella Range belt where three targets of the highest priority have been identified – Cambridge, a large dunite body, and Aphrodite and Desert Dragon, two areas with large electromagnetic conductors.

Magnetic data derived from Newexco’s work indicates intense folding, faulting and shearing of the ultramafic belt in the Stella Range, just the sort of conditions for a nickel deposit to form.

SGQ has done all of the preliminary exploration work leading up to this moment, from geophysics to reverse circulation drilling campaigns, in order to pinpoint the best targets.

The diamond drilling campaign underway now is the culmination of years of effort, and could see SGQ richly rewarded for its efforts at East Laverton.

Our previous Catalyst Hunter stock

Since our article on Red Emperor (ASX:RMP) 1 in 3 Chance of a 20 Bagger? Offshore Drilling Weeks Away, RMP has risen over 140%:

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

SGQ: 7 targets – 7 weeks

So far, SGQ has confirmed the order of three of at least seven targets to be drilled – Cambridge, Aphrodite, and Desert Dragon.

The ordering of drilling the other targets will be revealed as the seven week campaign progresses.

Drill hole number 1 is complete, at Cambridge – and a prospective high MgO zone was encountered on the eastern margin of the Cambridge nickel prospect.

This has warranted follow up drilling, and for logistical reasons, SGQ is now drilling this follow up hole here:

The Cambridge Nickel Sulphide prospect was modelled by Newexo and bears resemblance to the Perseverance deposit at Leinster, which holds over 1.4 million contained tonnes of nickel.

Next week, attention will turn to the Aphrodite and Desert Dragon EM conductors – which represent the highest potential for immediate nickel discovery success.

There could be a very large prize at Aphrodite or Desert Dragon – and SGQ investors will find out one way or another over the coming weeks.

SGQ’s share price potential

It’s the combination of targeted high impact drilling and a market cap of just $11M that gives SGQ such high leverage to success.

It’s drilling up to seven highly prospective massive nickel sulphide targets, including at least six EM plates modelled by elite nickel expert Newexco.

It has multiple chances at success, any one of which could be transformative.

In the past we have seen the market react strongly to a big nickel find from a penny stock.

This is the chart for Sirius Resources – showing this share price rise after targeted drilling discovered Nova, then Bollinger in the Fraser Range, which lies to the south of SGQ’s East Laverton project area:

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Sirius experienced a severe and sustained share price move as word spread of a thick, high-grade nickel sulphide intersection.

SGQ are hoping to repeat that success and having Newexco, the same geophysics company that worked with Sirius for its monster find, on board certainly helps.

But instead of looking in the Fraser Range where the Nova discovery was made, SGQ is working to establish a new nickel province almost directly to the north, in East Laverton. Success would mean first mover status in an entirely new nickel province.

Our previous Catalyst Hunter stock

Since our article on Rumble Resources (ASX:RTR) Next Friday: Fraser Range Diamond Drilling, RTR has risen almost 190%:

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

High impact drilling for high impact catalysts

SGQ has begun a drilling campaign that will see up to seven targets explored with diamond drills in up to seven weeks.

Throughout this time, the company will be releasing results that could materially transform its fortunes and establish Australia’s newest nickel province.

Teamed with elite nickel experts Newexco, the company has pinpointed textbook nickel targets in ground previously explored by BHP.

There are multiple chances of discovery for SGQ, and with a bit of luck over the coming weeks we could see Australia’s next big nickel find.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of AG Capital Markets Pty Ltd (AFSL No. 292464). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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