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St-Georges $SX.ca $SXOOF wholly own Subsidiary #ZeU #Crypto Networks Announces $20M Debenture Offering $IDKca $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 7:55 PM on Sunday, January 7th, 2018

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  • Announced that its wholly owned subsidiary, ZeU Crypto Networks Inc., a private blockchain technology company, intends to sell $20,000,000 aggregate principal amount of 10.00% convertible unsecured debentures on a non-brokered offering basis
  • Frank Dumas, President and CEO of St-Georges Eco-Mining stated “This financing of ZeU Crypto Networks will allow St-Georges to significantly accelerate its global eco-mining and mineral commodity goals

Montreal, January 7, 2018 St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that its wholly owned subsidiary, ZeU Crypto Networks Inc. (“ZeU”), a private blockchain technology company, intends to sell $20,000,000 aggregate principal amount of 10.00% convertible unsecured debentures (“Debentures“) on a non-brokered offering basis (the “Offering“).

All Debentures are being sold at a price of $1,000 per Debenture, subject to a minimum subscription of $10,000. The Debentures will mature 24 months after their issuance (the “Maturity Date”) and will bear interest at an annual rate of 10.00%, calculated from date of issue, compounded quarterly and payable at the Maturity Date.

St-Georges (the “Company”) would like to provide additional information to a statement made in its press release on January 4, 2018. The Company stated that it has transferred the license acquired from Qingdao Tiande Technologies Inc., (“Tiande”) to its newly formed wholly owned subsidiary, ZeU Crypto Networks Inc. against the issuance of 20,000,000 common shares of ZeU.  The shares were issued at a book value of $0.10 per share. This information was missing from the press release.

Frank Dumas, President and CEO of St-Georges Eco-Mining stated “This financing of ZeU Crypto Networks will allow St-Georges to significantly accelerate its global eco-mining and mineral commodity goals (…) As previously announced, we are very excited about the acquisition of the blockchain technology license from Tiande and its transfer in ZeU, a pure-play blockchain transaction that advances our strategic objectives and which we expect will take on a life of its own in the near future,” added Frank Dumas. “With a successful completion of the Offering, we expect ZeU to be favorably positioned to monetize its newly acquired technology and seek out additional assets while analyzing corporate reorganization options.”

ST-GEORGES AND THREED CAPITAL TEAM UP

Further to our recent press release on December 31, 2017, in which the Company announced the addition of Sheldon Inwentash, Chairman and CEO Of ThreeD Capital (IDK:CSE) to our Advisory Board, St-Georges is pleased to announce that ThreeD Capital has agreed to introduce ZeU to its global network and blockchain ecosystem.

Mr. Inwentash stated “ThreeD Capital, through its wholly owned subsidiary, Blockamoto.io, has set a mandate to provide strategic advice to assist early stage blockchain solutions in reaching viability as quickly as possible.  ZeU Crypto Networks could represent the most disruptive protocol of the already disruptive blockchain industry.”

ADDITIONAL DEBENTURE TERMS

The Debentures will be convertible at the option of the holder into common shares of ZeU (“ZeU Shares“) at any time prior to the close of business on the Maturity Date at a conversion price (the “Conversion Price“) equal to the greater of: (i) $1.00, and (ii) if the date of any conversion is following the announcement by ZeU of a liquidity event (a “Liquidity Event”), the amount which represents the maximum permitted discount by an exchange to the transaction price assigned to each ZeU Share or resulting issuer on the occurrence of the Liquidity Event. Upon the occurrence of a Liquidity Event, ZeU may force the conversion of up to 25% of the principal amount of the then outstanding Debentures at the Conversion Price. ZeU may elect, from time to time, subject to applicable regulatory approval, to satisfy its obligation to pay interest on the Debentures (i) in cash, or (ii) by issuing the equivalent value in securities.

ZeU is not a reporting issuer and the Debentures will not be listed. Completion of the Offering will be subject to the acceptance and approval of the Canadian Securities Exchanges since it will represent a disposition of assets for SX.

The Debentures, and any ZeU Shares issuable upon conversion of the Debentures, will be subject to a hold period of four months and one after the later of (i) any respective Closing, and (ii) the date ZeU became a reporting issuer in any province or territory.

BLOCKCHAIN AND SMART CONTRACT TECHNOLOGY LICENSE

On January 4, 2018, the Company announced the signing of a significant, non-arm’s length blockchain and smart contract technology license agreement (the “License”), with Qingdao Tiande Technologies Inc., (“Tiande”). Tiande is led by world-renowned blockchain expert, Dr. Wei-Tek Tsai, who initiated the first academic laboratory dedicated to blockchain research and education in China at Beihang University’s School of Computer Science and Engineering.

Dr. Wei-Tek Tsai received his S.B. in Computer Science and Engineering from Massachusetts Institute of Technology (MIT) at Cambridge, MA in 1979, M.S. and Ph.D. in Computer Science from University of California at Berkeley in 1982 and 1985. He joined Arizona State University, Tempe, Arizona in 2000 as a full professor of Computer Science and Engineering in the School of Computing, Informatics, and Decision Systems Engineering. He became an Emeritus Professor in Dec. 2014.

He has authored more than 500 papers in software engineering, service-oriented computing,  cloud computing and blockchains. He travels widely and has held various professorships in Asia and Europe

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

 

FRANK DUMAS, PRESIDENT & CEO

 

About St-Georges

St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

For Press Release Inquiries: 514.295.9878 or ceo@stgeorgesplatinum.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges $SX.ca Updates Shareholders on Warrants Execution, #Crypto-Mining in #Iceland & #Lithium Processing $NNX.ca $OM.ca

Posted by AGORACOM-JC at 11:51 AM on Friday, November 24th, 2017

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  • Company updates its shareholders and stakeholders on the status of some of its initiatives and provide some clarity to recent recurring questions from the public

Montreal, Quebec / November 24, 2017 – St-Georges Platinum & Base Metals ltd (CSE: SX) (OTC: SXOOF) (FSE: 85G1) would like to update its shareholders and stakeholders on the status of some of its initiatives and provide some clarity to recent recurring questions from the public.

Warrants being executed

On November 3, the company notified certain warrants holders of its intention to accelerate the expiry date of certain warrants with an execution price of $0.04 issued in May 2016. Of a total of 7,250,000 warrants in circulation, the company has already processed or received execution notices from warrant holders representing 5,000,000 warrants for total proceeds of $200,000.

Lithium clay extraction technology

Many shareholders have made clear to management that they would like more disclosure on the current on-going lithium extraction technology research & development initiative. For competitive reasons, the Company is not able to fully disclose the mechanics of the technology being developed, which led some to form their own speculation with respect to the technology and our partners.

The analysis of the work done by the company metallurgists has convinced Company management of the necessity to file patents in the near future before fully disclosing all the details pertaining to this method of lithium extraction out of clay. However, other information can be readily disclosed; First, the technology is proprietary, it is not an improvement on other technologies developed by our partner Strategic Metallurgy Pty, or anything related to the revolutionary L-Max lithium extraction process owned by Lepidico (ASX:LPD). The process does not use liquid acid to leach the lithium out of the clay. A review of publicly disclosed private or public research program didn’t identify any other research using a similar approach. The tests currently done aimed at proving the capacity of this technology to extract in one mining circuit phase lithium chloride from the clays in their current stage as found in the Bonnie Claire Valley. The Company has enrolled the help of Dundee Sustainable Technologies as a contractor to run some of the tests in an independent laboratory environment.

Blockchain & Cryptocurrencies

On November 11, the company announced it had found a third-party escrow service company that had agreed to act as a facilitator to accept cryptocurrencies in our future private placements. The company also disclosed that some of its suppliers had agreed to receive payments in cryptocurrencies.

This announcement has generated questions, some of which can be addressed as follows: St-Georges is not moving its main business towards a blockchain or cryptocurrencies business model. However, the company has decided to leverage the presence on its board and in its management of individuals who are well versed on the subject, including one of our directors who published many papers on the subject for well-known scientific publication and runs a cryptocurrencies laboratory in China. The company was also contacted by other individuals and companies interested in being introduced to the entities in Iceland that can facilitate the implementation of crypto-mining operations. The company will review the potential of these opportunities with an independent committee of its directors, not involved in the blockchain space and will decide a course of action that should avoid conflict of interest, yet allow the company to monetize some of these opportunities.

King of the North Corp.

In the last month, the company announced the creation of a subsidiary with the focus of putting together a portfolio of potentially large mineral exploration projects. St-Georges contributed its Isoukustouc Nickel-Copper-Cobalt project to it. It also announced its intention to option the Hemlo North Limb project from Canadian Orebodies. The management of KOTN is currently reviewing other potential acquisitions, and if these reviews are positive, they should be communicated to the public in the near future. Some shareholders questioned the focus of St-Georges after the last announcement from KOTN and the management of St-Georges would like to clarify that KOTN was created in order to be managed as a separate entity, with its own exploration and financing objectives. St-Georges’ board of directors believe that this will allow St-Georges’ management to better focus on the remaining activities of the company.

Saguenay claims & Muscovite Mines

On November 13, St-Georges announced that it had acquired the 50% ownership of the Saguenay claims held by Quantum Numbers Corp. (TSX-V: QNC). Prior to this transaction, these claims were jointly-owned in equal proportion with St-Georges. The company intends to initiate some surface works on these claims in the next 10 days. St-Georges will also form an ad-hoc independent committee of directors to establish the best terms to acquire the core claims composed of 8 historical muscovite mines that are currently owned by Mark Billings and Frank Dumas, both of whom are officers and directors of the company, and their third partner who has no relationship with the company. The company expects to make some announcement within the next 10 days in regard to this proposed acquisition.

Other announcements

St-Georges’ management will be in London, U.K. for investor presentations next week from November 27th to December 1st in parallel with the “Mines & Money Conference’. Investors are welcome to contact the company to arrange a meeting. Other updates are expected before the end of the month.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS, PRESIDENT & CEO

About St-Georges

St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges’ $SX.ca Subsidiary Kings of the North Planning Financing Effort that will Include #Cryptocurrencies #Bitcoin

Posted by AGORACOM-JC at 10:13 AM on Thursday, November 2nd, 2017

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  • Enrolled the services of a third party escrow service company, which will allow its subsidiary to secure a portion of its future financing in Bitcoins and other cryptocurrencies.

Montreal, Quebec / November 2, 2017 – St-Georges Platinum & Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to inform its shareholders and stakeholders that the Company has enrolled the services of a third party escrow service company, which will allow its subsidiary to secure a portion of its future financing in Bitcoins and other cryptocurrencies.

That subsidiary, Kings of the North Corp. (KOTN), will be seeking to raise up to $5 million in financing, the timeline and the nature of which will be communicated at a later date. At this point, the company has received no firm offer and there is no guarantee such an offer would meet its expectations.

“As St-Georges intend to bring new technologies to the mining industry, the Company would also like to be a pioneer in the use of financial innovations, such as bitcoins and cryptocurrencies” commented Mark Billings, president of KOTN.

St-Georges also received interest from some of its main suppliers to be paid in Bitcoins. One such supplier, North Atlantic Mining Associates Ltd (NAMA), which is in charge of all the work of St-Georges’ Icelandic subsidiary, Iceland Resources EHF, has agreed to receive payments in Bitcoins for the coming drilling campaign. The Honorable Lord Timothy Razzall, NAMA Chairman commented: “NAMA is pleased to be part of this exciting development in Iceland. The project fits nicely with NAMA’s strategy of developing its construction and drilling business”.

ON BEHALF OF THE BOARD OF DIRECTORS

“Mark Billings

MARK BILLINGS, CHAIRMAN OF THE BOARD & PRESIDENT OF KINGS OF THE NORTH.

About St-Georges

St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.

The Company controls directly or indirectly all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

St-Georges’ $SX.ca Subsidiary Kings of the North Names Gerry Nicholls to its Board of Directors

Posted by AGORACOM-JC at 4:05 PM on Monday, October 30th, 2017

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  • Mr. Gerry Nicholls has joined the board of its wholly-owned subsidiary, ‘Kings of the North Corporation’
  • Gerry has more than 25 years’ experience in advocacy, in political campaign messaging and in media management with in-depth expertise in strategic planning and media relations

Montreal, Quebec / October 30, 2017 – St-Georges Platinum & Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announced to its shareholders and stakeholders that Mr. Gerry Nicholls has joined the board of its wholly-owned subsidiary, ‘Kings of the North Corporation’.

Gerry has more than 25 years’ experience in advocacy, in political campaign messaging and in media management with in-depth expertise in strategic planning and media relations. Over the years Gerry has worked with a wide range of organizations in multiple countries, from Senatorial candidates in the United States to national branding campaigns. From 1985 to 2007 Gerry was Vice President Media and Communications for the National Citizens Coalition. He has been a guest speaker at numerous conferences sponsored by the Fraser Institute, the Alberta Law Society and the Institute for Liberal Studies. He has written numerous opinion editorials which have appeared in newspapers in the United States including the New Hampshire Union Leader and throughout Canada including the Globe and Mail, the National Post and the Toronto Star. He is also a sought after media commentator.

Mark Billings, president of the Kings of the North Corp., has asked Gerry Nicholls to advise the company on its communication strategy and on topics related to governmental affairs. Mr. Nicholls will complete the team already in place that includes Dr. Peter Smith Ph.D. and Ms. Neha Tally.

 

ON BEHALF OF THE BOARD OF DIRECTORS

“Mark Billings

MARK BILLINGS, CHAIRMAN OF THE BOARD & PRESIDENT OF KINGS OF THE NORTH COPORATION.

About St-Georges

St-Georges is developing new technologies to solve the mining industry’s biggest environmental problems. If successful, these new technologies would improve the financial bottom line of current mining producers and upgrade certain current known metal resources to economic status while addressing environmental and social acceptability issues.

The Company controls directly or indirectly all of the active mineral tenures in Iceland; it explores for nickel on the Julie Nickel Project , for industrial minerals on Quebec’s North Shore, and for lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St Georges $SX.ca Provides #Lithium Processing Update & New Canadian Focused Subsidiary

Posted by AGORACOM-JC at 3:49 PM on Thursday, October 5th, 2017

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  • Provides update on the progress of a few of its business initiatives
  • Received in Montreal a first delivery of material from the Bonnie Claire sedimentary lithium project, which is 100% owned by Iconic Minerals (TSX-V: ICM)

Montreal, Quebec / October 5, 2017 – St-Georges Platinum & Base Metals ltd (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to update its shareholders and stakeholders on the progress of a few of its business initiatives.

Lithium Research Initiative Update

The Company has received in Montreal a first delivery of material from the Bonnie Claire sedimentary lithium project, which is 100% owned by Iconic Minerals (TSX-V: ICM). St-Georges’ metallurgists have devised a protocol to extensively test the material in order to prepare a multi-tonne larger bulk test in a pilot plant environment later this fall in collaboration with St-Georges R&D partners. Please refer to St-Georges’ press release dated August 10, 2017 for details regarding the relationship between St-Georges and Iconic Minerals.

St-Georges’ research team will be working on the optimization of the lithium recovery process specific to the Bonnie Claire project’s mineral composition and will be reviewing the potential economic recovery of secondary commodities such as strontium. The approach can be summed up to a combination of hydrometallurgy and mineral process configured in such a way that it optimizes the liquid separation of the valuable elements. St-Georges has now moved away from the stage of the proof of concept and is currently characterizing and identifying the key performance indicators for each step of the lithium recovery pertinent to Bonnie Claire’s mineral material.

New Canadian Focused Subsidiary

Mr. Mark Billings, chairman of the board of St-Georges, will become the president of a new subsidiary of St-Georges that will be receiving certain assets of the company, including the nickel, copper & cobalt project known as the Isoukustouc Project, which is located on the Quebec North Shore, north of the deep-sea port town of Baie-Comeau and on the territory of the Quebec Government Initiative known as the “Northern Plan”.

About Isoukustouc

Owned 100% by St-Georges, the Isoukustouc Project is located 75 km north of the town of Baie-Comeau on the Quebec North Shore and is composed of 32 claims representing an approximate total of 1,800 hectares or 18 square kilometers. Previously reported historical assay values obtained on selected grab samples yielded grades of 17.00% wt. copper, 3.84% wt. nickel and 0.20% wt. cobalt. The 2012 surface sample program from the B40 section yielded 1.85% nickel and 0.335% copper on average. An exploration program of 2,343 line-km of airborne magnetic geophysical survey with 100m spacing was completed in 2011.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas’

FRANK DUMAS, PRESIDENT & CEO

About St-Georges

St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.

The Company controls directly or indirectly all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges to Develop Extraction Technology for Lithium Developer $SX.ca

Posted by AGORACOM-JC at 11:25 AM on Thursday, August 10th, 2017

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  • Signed binding term sheet with Iconic Minerals Ltd (TSX-V: ICM)
  • St-Georges has agreed to provide research and development utilizing products, extraction methods and proprietary technology to develop Iconic’s Bonnie Claire lithium project in separation, recovery, and purification of lithium from its lithium bearing material

Montreal, Quebec / August 10, 2017 – St-Georges Platinum and Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that it has signed a binding term sheet with Iconic Minerals Ltd (TSX-V: ICM) pursuant to which St-Georges has agreed to provide research and development utilizing products, extraction methods and proprietary technology to develop Iconic’s Bonnie Claire lithium project in separation, recovery, and purification of lithium from its lithium bearing material.

In consideration for the R&D, which will include engineering services, and once a definitive agreement has been entered into, Iconic has agreed, subject to receipt of acceptance by the TSX Venture Exchange, to issue St-Georges up to 5,000,000 common shares of its capital stock. The issuance will be done in stages over a 36-month period commencing on the date of execution of the Definitive Agreement. St-Georges has agreed that any and all Compensation Shares issued will be held by a third party escrow agent and released to St-Georges at the end of the 36-month period, contingent on St-Georges reaching certain performance benchmarks.

The Parties will establish a royalty stream on the commercial output of the Property for the entire mine life, which will be opposable to any successors of Iconic as a lien on the mining assets. St-Georges and Iconic will negotiate a right of first refusal in favor of Iconic. The royalty, of which further details will be defined in the definitive agreement within the guidelines of the “Royalty Formula” of the binding term sheet, will take the form of a 5% Net Revenue Interest or Net Revenue Return.

A further News Release will be disseminated once the Definitive Agreement has been entered into. The definitive agreement will be subject to acceptance of the board of directors of both companies and subject to review by regulatory authorities.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas’

FRANK DUMAS, PRESIDENT & CEO

About St-Georges

St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.

The Company control directly or indirectly all of the active mineral tenures in Iceland. It also explores for Nickel on the Julie Nickel Project & for industrial minerals on the Quebec’s North Shore and for Lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

ST-GEORGES POSITIONED TO UNLOCK ICELAND’S MINERAL POTENTIAL WITH THE ACQUISITION OF ICELAND RESOURCES EHF $SX.ca

Posted by AGORACOM-JC at 8:41 AM on Thursday, March 16th, 2017

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  • Announced that it has successfully completed its due diligence review of Iceland Resources EHF and signed a final definitive acquisition agreement
  • New subsidiary now owns multiple polymetallic exploration & development projects in Iceland and has direct or indirect access to all active mineral tenure, claims and mineral leases in Iceland

St-Georges Platinum and Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that it has successfully completed its due diligence review of Iceland Resources EHF and signed a final definitive acquisition agreement.  Subsequently to this transaction, St-Georges now owns all of the outstanding shares of Iceland Resources. St-Georges’ new subsidiary now owns multiple polymetallic exploration & development projects in Iceland and has direct or indirect access to all active mineral tenure, claims and mineral leases in Iceland.
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Top:  Thor Gold Project Drilling Results Summary, Two high-grade plunging ore shoots, Warmer colours show higher gradesBottom Left: Banded quartz-chalcedony-ginguro from Thor. Andularia-sericite alteration  also presentBottom Right: Main structural features of Thormodsdalur epithermal gold deposit
The Thormodsdalur Project
The Opportunity
Iceland Resources EHF is an Icelandic corporation with gold/silver/copper/cobalt/zinc projects in Iceland. Amongst its projects are the 100% owned Reykjanes developmental project covering 897.5 km of licenced area that is in close proximity to Reykjavik and Keflavik and the gold project of Thormodsdalur located approximately 10km east of the city limits of the capital Reykjavik.
.Terms of Acquisition
St-Georges will create a new subsidiary in order to transfer its ownership of Iceland Resources. 40% of this subsidiary will be owned by the former Iceland Resources shareholders and the remaining 60% will be owned by St-Georges. Additionally, St-Georges make the following commitments:
  • Issuing 6,000,000 common shares of St-Georges to Iceland Resources’ shareholders with a 12-month escrow release schedule;
  • Issuing a $350,000 debenture, bearing a 6% annual interest (cash or shares), maturing in November 2026 to be distributed to Iceland Resources’ shareholders and some creditors; and
  • $1,000,000 of expenditure on the Iceland assets over the next 24 months, including mineral exploration expenses and metallurgical process research & development.
St-Georges Priorities in IcelandSt-Georges’ priority in Iceland will be to further explore the Thormodsdalur (Thor) gold project, which is currently in the process of being permitted for drilling later this summer.  The company plans a 3,000 meter diamond drilling campaign that will be comprised of twin-drilling certain historical drill holes and will add in-fill holes in the identified gold trend which strikes some 700 meters that has seen drilling in 2006.  The objective will be to gather enough data to be able to establish a first resource estimate by year end.Management of St-Georges will be publishing the summary of a geological due diligence report focused on the Thor Project and the drill core chemical analysis results that was commissioned to Dr Natasha Henwood as soon as Mr. Joel Scodnick and Mr. Herb Duerr, both Qualified Person under National Instrument 43-101, complete their review.Thormodsdalur is located about 20km east of the city centre of Reykjavík and south-east of the lake Hafravatn. The project was discovered in 1908. The property produced mineral concentrate from 1911 to 1925 when over 300 meters of tunnels were dug below surface excavations. The ore recovered was transported to Germany and historic sources reported values ranging between 11g/t and 315g/t Au.  Note: All information pertaining to mineral resources, grades or operational results herewith presented are historical in nature and while relevant, the information was obtained from sources that cannot be independently verified.More recently, visible gold was seen in core from geothermal wells located on the project. This new discovery compelled the Icelandic government to create a mining entity for gold exploration in Iceland called Málmís.

The best intercepts from the diamond drilling are 33.5m @ 8.0 g/t Au (true thickness) and 5.2m @ 35.4 g/t Au (true thickness).
Iceland Resources entered into a Joint Venture agreement with Melmi EHF, Málmís EHF (majority government owned) and Gold Ísland Limited.  Melmi is the owner of the Thormodsdalur license that was first granted in October 2004. Melmi is owned by Málmís (51%) and Gold Ísland (49%).St-Georges obligation in order to complete the earn-in agreement and to crystalize its initial equity position of 41% of the joint-venture on Thormodsdalur  is for St-Georges to complete an additional 3,000 meters of drilling and publish a NI 43-101 compliant resource. Other Joint-Venture partners at this stage are the Iceland government controlled Malmis (30.1%) and Gold Island (28.9%) with St-Georges being the operator.
General Disclaimer: The current press release contains references to mineral sampling results from sources in the geological literature published by departments in the Icelandic government. .  St-Georges has not sampled and analysed all of these samples. Readers should exercise caution as real width, depth or length of mineralisation encounter is not always defined. No resource estimate that is compliant with the standards of the National Instrument 43-101 is currently available. The technical information in this release has been reviewed and approved by Mr. Herb Duerr, P. Geo. and Mr. Joel Scodnick, P. Geo. St-Georges vice-president exploration, both ‘qualified person’ as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. 

INTERVIEW: St. Georges Developing New Technologies To Solve the Biggest Environmental Problems In The Mining Industry $SX.ca

Posted by AGORACOM-JC at 4:00 PM on Friday, February 3rd, 2017

  • Developing New Technologies To Solve the Biggest Environmental Problems In The Mining Industry
  • If new technologies are successful, they should improve the financial bottom line of current mining producers.
  • Potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing environmental and social acceptability issues.

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St-Georges to Acquire All Outstanding Shares of Iceland Resources EHF $SX.ca

Posted by AGORACOM-JC at 1:33 PM on Tuesday, November 22nd, 2016

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  • Entered into a binding agreement with Iceland Resources ehf to acquire all its outstanding shares
  • Iceland Resources owns multiple polymetallic exploration & development projects in Iceland and has direct or indirect access to all active mineral tenure, claims and mineral leases in Iceland

Montreal, Quebec / November 22, 2016 – St-Georges Platinum and Base Metals Ltd. (CSE: SX)(OTC: SXOOF) (FSE: 85G1) is pleased to announce that it has entered into a binding agreement with Iceland Resources ehf to acquire all its outstanding shares. Iceland Resources owns multiple polymetallic exploration & development projects in Iceland and has direct or indirect access to all active mineral tenure, claims and mineral leases in Iceland.

The Opportunity

Iceland Resources ehf is a privately-owned Icelandic corporation with gold/silver/copper/cobalt/zinc projects in Iceland.

Iceland is an important producer and developer of geothermal energy. St-Georges management has been active over the last few years in Iceland with the goal of securing access to geothermal operations to test the development of technologies allowing the extraction of lithium and light minerals from the brines being pumped from the geothermal wells and for the extraction of a large variety of precious and base metals found in the mud rejected from the same operations.

Enrico Di Cesare, Director of St-Georges commented: “(…) With St-Georges focused on innovative extraction technologies and working on strategic alliances with several providers, this opportunity is exciting; it is an excellent platform to apply new technologies, monetize tailings and demonstrate our solutions which also address environmental issues. The focus is to economically recover precious and base metals and to provide an avenue for positive environmental remediation of the by-products. St-Georges is also looking at niche and value added products that this opportunity lends itself to.”

Terms of Acquisition

St-Georges will create a subsidiary that will become the owner of Iceland Resources. 40% of this subsidiary will be owned by the Iceland Resources shareholders and the remaining 60% will be owned by St-Georges. Additionally, St-Georges makes the following commitments:

-Issuing 6,000,000 common shares of St-Georges to Iceland shareholders with a 12-month escrow release schedule;

-Issuing a $350,000 debenture, bearing a 6% annual interest (cash or shares), maturing in November 2026 to be distributed to Iceland shareholders and some creditors; and

-$1,000,000 of expenditure on the Iceland assets over the next 24 months, including mineral exploration expenses and metallurgical process research & development.

Iceland Resources Projects

Iceland Resources currently has 9 defined mineral exploration and development projects in Iceland (8 licenses or license applications held directly and one within a Joint-Venture). Other opportunities are being sought after with the collaboration of St-Georges (with the possibility to deploy St-Georges technologies result from its R&D initiatives).

St-Georges intends to direct most of its efforts in the next 24 months to 3 priority projects:

Reykjanes Project (EL 01) (Au-Ag-Cu-Zn)

The 897.5 km2Reykjanes licence area is in close proximity to the capital Reykjavik and the international airport in the town of Keflavik and is supported by good transport infrastructure with main highways running through it. The project is prospective for gold, silver, copper, zinc and cobalt. The Company also plans to apply for licenses to evaluate the lithium potential of the geothermal brines present on the property.

Figure 1. The Reykjanes Project

The Thormodsdalur Project (EL-14) (Au-Ag-Cu)

Thormodsdalur is located about 20km east of the city centre of Reykjavik and south-east of the lake Hafravatn. The project was discovered in 1908. The property produced mineral concentrate from 1911 to 1925 when over 300 meters of tunnels where dug alongside surface excavations. The ore recovered was transported to Germany and historic sources reported values ranging between 11g/t and 315g/t Au. Note: All information pertaining to mineral resources, grades or operational results herewith presented are historical in nature and while relevant, the information was obtained from sources that cannot be independently verified and that are not compliant with National Instrument 43-101 reporting standards.

More recently, visible gold was seen in cores from geothermal wells located on the project. This new discovery compelled the Icelandic government to create a mining entity for gold exploration in Iceland called Malmis.

Studies between 2005 and 2013 identified the project mineralization as a low sulphidation system containing banded chalcedony and ginguro. Petrographic analysis of the vein material identified gold occurring in its free form and as part of an assemblage with pyrite and chalcopyrite. Petrographic and XRD studies show an evolution of the vein system from the zeolite assemblage to quartz adularia and lastly to minor calcite. In the area, 32 holes have been drilled for a total of 2439 meters.Gold values vary from less than 0.5 ppm to the maximum of 415 ppm. (These values were obtained from selected random intervals and cannot be construed to be representative of the any particular thickness or overall length).

Iceland Resources entered in to a Joint Venture agreement with Melmi ehf, Malmis hf (majority government owned) and Gold Island Limited. Melmi is the owner of the Thormodsdalur license that was first granted in October 2004. Melmi is owned by Malmis (51%) and Gold Island (49%).

Figure 2. The Thormodsdalur Project

The Vopnafjordur Project (EL-05) (Au-Ag-Te) (Bi-Co-Sb-Se-Zn)

The Vopnafjordur licence covers 598.5 km2(Maps, fig. 3 & 4) and is valid until July 2021. Exploration in Vopnafjordur was carried out by Malmis between 1991 and 1993 in the form of BLEG surveys and vein sampling. Follow-up work was carried out by Melmi in 1997, which carried out stream sediment and helicopter-assisted rock chip sampling in the Vopnafjordur area. The rock chip sampling programme focused on areas of strong alteration, known quartz-carbonate-pyrite veining and in selected structural settings. The sampling programme indicated anomalous antimony, selenium and tellurium values in the northern rhyolitic centre and further identified anomalous gold, antimony, bismuth and zinc in an acid intrusion in the central southern part of the licence.

Recently, a comprehensive review of the BLEG and rock chip sampling programme was undertaken alongside satellite interpretation of the whole of the Vopnafjordur licence and a short exploration program in August 2016. In addition to the two volcanic centres identified in the 1990s, a number of regional fault zones associated with elevated levels of key pathfinder elements and occasionally gold was identified. The geological team is expecting assay results shortly.

These areas will be investigated further by the Company’s geological team in 2017, which will carry out close-spaced traverse mapping and grab sampling of key fault structures identified by previous exploration.


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Figure 3. Vopnafjordur licence EL-05 is situated in the Nord Austurland region of NE Iceland


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Figure 4. Extent of Vopnafjordur licence boundaries. Map scale 1:200,000


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Figure 5. World map showing Iceland


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Figure 6. Map of Iceland with location of the projects

Icelandic Geology is unique and considered relatively young in geology term. Iceland lies in the divergent boundaries of the Mid Atlantic Ridge. The buoyancy of the Iceland plume leads to dynamic uplift of the Iceland plateau, and high volcanic productivity over the plume has developed an anomalous volume of volcanic material and magma chambers at depth.

Iceland has not been thoroughly mapped and geological exploration has been limited when compared to other jurisdictions. St-Georges now have the unencumbered opportunity to explore Iceland’s potential starting with its most known prospective target sites with data generated from existing geological work and geothermal operations around the country. Furthermore, St-Georges technologies should enable the team of Iceland Resources to unlock the potential for prospective lithium brines and mud tailings that were not considered in the past.

Vilhjalmur Thor Vilhjalmsson, director of Iceland Resources, commented: “The opportunity to combine the resources of both companies, our extensive knowledge of Iceland and its geology and the addition of St-Georges team’s expertise in metallurgical processing and eco-mining environmental friendly solutions, provides a unique offering to the market and stakeholders of both companies (…) St-Georges brings a portfolio of R&D initiatives aimed at reducing the environmental impact of mining activities and improving producers’ financial bottom line. Iceland like the Scandinavian countries is a place of certainty in regulations and mining law with reliable and accessible data available from government bodies thus opening possibilities to get additional licenses with historical data available similar to work previously done in Iceland as well as in Greenland (…) we believe that we found a good home for our shareholders in St-Georges and we are excited at the prospect of the proposed 2017 exploration and development campaigns.”

General Disclaimer: The current press release contains references to mineral sampling results that are provided by Iceland Resources or were sourced in the geological literature published by the Icelandic government or its departments. St-Georges has not sampled and analysed these samples. Readers should exercise caution as real width, depth or length of the mineralisation encounter is not defined. No resource estimate that is compliant with the standard of the National Instrument 43-101 is currently available.

The technical information in this release has been reviewed and approved by Mr. Herb Duerr, P. Geo. a ‘qualified person’ as defined by National Instrument 43-101Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas’

FRANK DUMAS, PRESIDENT & CEO

About St-Georges

St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If thesenew technologiesare successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues. The Company also explores for Nickel on the Julie Nickel Project & for industrial minerals on the Quebec’s North Shore and for Lithium and rare metals in Northern Quebec and in the Abitibi area.Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

About Iceland Resources EHF

Iceland Resources ehf is a junior mineral exploration company with a focus on the Scandinavian region. The company has one licence in the Vopnafjordur area in Iceland and further seven areas pending issue totalling over 4,000km2. The company also has an earn-in agreement with Melmi ehf and Gold Island Ltd to earn into the well-known Thormodsdalur licence where gold grades up to 415 g/t have been identified and the partners are working towards a NI 43-101 compliant resource.http://www.icelandresources.is

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges Agrees Commercial Terms With Platypus Over Le Royal Lithium Project $SX.ca

Posted by AGORACOM-JC at 12:27 PM on Thursday, August 4th, 2016

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  • Announced that it has entered into a binding term sheet – “JV Agreement”- with Platypus Resources (ASX: PLP) detailing the key commercial terms of their joint venture in relation to Le Royal Lithium
  • lepidolite-rich project for which St-Georges and Platypus hold an option to acquire 100%.

Montreal, Quebec / August 4, 2016 –St-Georges Platinum and Base Metals Ltd. (CSE: SX) (FSE: 85G1) (OTC: SXOOF) is pleased to announce that it has entered into a binding term sheet – “JV Agreement”- with Platypus Resources (ASX: PLP) detailing the key commercial terms of their joint venture in relation to Le Royal Lithium, a lepidolite-rich project for which St-Georges and Platypus hold an option to acquire 100%.

In forming the joint venture, St-Georges and Platypus will be focussed on the exploration and development of Le Royal Lithium prospect leveraging off Platypus’ L-Max(R) technology to process lepidolite ores and St-Georges’ in-country experience.

The key terms of the Agreement are detailed below:

Initial Ownership Interest Platypus 70%St-Georges 30%
Initial Exploration Expenditure St-Georges will fund the first C$450,000 of exploration expenditure.
L-Max(R) Licence Platypus will grant the joint venture a licence to use the L-Max(R) technology on the project.
St-Georges Option After completing the Initial Exploration Expenditure, St-Georges will have an option to fund the next C$600,000 of exploration expenditure to increase its ownership interest in the joint venture to 50%.If St-Georges exercises this option, it will pay for 50% of the milestone payments relating to the delineated of a JORC/NI-43101 Resource as contemplated in the Acquisition Agreement.
Conditions St-Georges and Platypus exercising their option to acquire Le Royal Lithium prospect and associated claims.Execution of a formal joint venture agreement between St-Georges and Platypus.

Any required regulatory approvals.

Platypus Managing Director Tom Dukovcic commented: “We are pleased to have agreed to key terms with St-Georges. This deal demonstrates our continued ability to leverage off the L-Max(R) technology to gain near term value by obtaining a free carry through a significant portion of exploration expenditure.”

OTHER CORPORATE MATTERS

Valorization of St-Georges mining exploration portfolio.

St-Georges is currently reviewing all of its mining exploration claims and projects portfolio. Herb Duerr, P. Geo and St-Georges director, has received the mandate to look at all options available to move the projects of value forward. Management will be looking at reactivating secondary projects like the Isoukustouc Project, in light of the increased interest in cobalt and platinum.

Muscovite Projects update

On April 28, 2016 St-Georges entered into a multi-party agreement with SX insiders and Active Growth Capital (ACK) in regards to 8 historical muscovite mines. Active Growth management notified St-Georges of its plans not to pursue the exploration and development of the muscovite assets that were part of the joint agreement. No shares of ACK have been issued in favour of St-Georges. The Option agreement is to be considered expired and ACK does not have any further obligation in regards to St-Georges. St-Georges is planning to execute a revised agreement with the owners of the claims in the coming weeks.

Furthermore, St-Georges and ACK also jointly acquired 81 additional mining exploration claims surrounding the historical sites representing approximately 4,633 hectares. These claims are currently held and registered under both companies with 50% ownership each.

ACK contracted a geological team to visit some of the new jointly-acquired claims. Some samples of interest were sent to laboratories for analysis. These samples are currently undergoing a second testing phase. St-Georges will update its shareholders as soon as these results become available to the company.

ON BEHALF OF THE BOARD OF DIRECTORS

“Mark Billings”

MARK BILLINGS, Chairman of the Board

About St-Georges

St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.

The Company also explores for nickel on the Julie Nickel Project on Quebec’s North Shore.

Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.