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St-Georges Eco-Mining $SX.ca $SXOOF: First Hole Completed at Thor Gold Project $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM-JC at 9:10 AM on Tuesday, September 15th, 2020
  • Completed its first reverse circulation drill hole at the Thor project in the vicinity of Reykjavik in Iceland
  • The hole was positioned to test a previous surface sample that assayed 37.4 g/t gold and 69.3 g/t silver
  • The hole was successfully ended at 124 meters

Reykjavik – September 15, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to disclose that it has completed its first reverse circulation drill hole at the Thor project in the vicinity of Reykjavik in Iceland. The hole was positioned to test a previous surface sample that assayed 37.4 g/t gold and 69.3 g/t silver. The hole was successfully ended at 124 meters.

The exploration team lead by Pr Helen Salmon and supported by Herb Duerr and lead field geologist Gary McLearn, had identified earlier in August a new target zone outside the historically explored area following the grab sample results from sample 008 that yielded 69.3 g/t silver, 0.216% Copper & 37.4 g/t Gold. (See Company’s Press Release from August 21, 2020).

Because of high grades in past mining and the presence of visible gold in past work, a decision to sample the hole on 30 cm intervals was made by management. Our contract geologist may have observed visible grains of gold and possible accessory silver minerals near the bottom of the hole. As such, management has decided to do a standard 50 assay ton fire assay with atomic absorption finish for both gold and silver. Any samples assaying over 0.8 g/t gold will be automatically reassayed. If the samples are inconsistent, the lab will be instructed to do metal screening for particulate gold on reject material.

The current surface exploration campaign conducted one drill hole via reverse circulation using a standard hammer drill bit of 5.5 inches (~14 cm) in size. The drilling was conducted under the constant supervision of the Company’s field geologist, and all the material of every 30cm of depth was collected in plastic buckets sealed, identified with a code, and carried to St-Georges’ secure warehousing facilities in Reykjavik. From there, the geologists will prepare a representative sample for every bucket. Based on the visual analysis conducted while logging the material so far, the Company expects to send over 400 samples to be assayed to ALS Global Laboratories (ISO/IEC 17025 accredited) in Loughrea, Ireland. The Company intends to request a rush treatment for the assay of these samples.

The hole completed went from surface to a depth of 124 meters on an azimuth of 110 degrees. The drill rig cased the hole to 2 meters depth encountering approximately 1.5 meters of overburden at the surface. The mineralization encountered is compatible with the type often favorable for gold on the Thor project consisting of quartz veining adjacent to basalt with apparent abundant pyrite and accessory sulphides. Visible gold and silver may have been identified in the field by the Company’s field geologist. These sections are still being logged and sampled and prepared to be sent to the laboratory. See Figures 1, 2 & 3.


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Figure 1. Mineralization floating on top of drilling mud


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Figure 2. Mineralization from quartz veining

Figure 3. Mineralization close up from Fig. 2

St-Georges’ President & CEO, Vilhjalmur Thor Vilhjalmsson, commented: “(…) We are encouraged by the current pace of the exploration work on the Thor Gold Project. The team has worked with the constraints of the COVID-19 quarantine and additional precautions imposed by the new government regulations, and still ended-up delivering within the aggressive target dates we had put forward (…) We are particularly pleased with the field team led by Gary. We have given the team much leeway and trusted their professional expertise. Gary took a bold decision in choosing an underexplored location for the only deeper drill hole we were authorized for to date under our agreement with Melmis. For what we know so far, it was worth the risk (…) we expect to close the transaction with Melmis this month, and we will keep the drilling contractor busy for the foreseeable future on the Thor Gold Project (…)”.

About Thor Gold

The Thormodsdalur Gold Project is located about 20km east of the city center of Reykjavik and south-east of the Lake Hafravatn. The project was discovered in 1908. The property produced a gold concentrate from 1911 to 1925, which shipped to Germany for processing. Over 300 meters of tunnels explored and mined one or more quartz veins and wall rock below open cuts at the surface.

Studies between 1996 and 2013 identified the project mineralization as a low sulfidation system hosted by basic to intermediate flows of Pliocene to Miocene age. The host contains banded chalcedony and ginguro within a fault zone up to 5 meters in width. To date, the identified gold trend has a known strike length of 700 meters determined by drill intercepts. 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.

Thirty-two holes have been drilled within the license area, for a total of 2439 meters. Gold values vary from less than 0.5 g/t to a maximum of 415 g/t. (These values were obtained from selected random intervals and cannot be construed to be representative of any particular thickness or overall length.) Historically, the best intercepts from the diamond drilling are 33.5m of 8.0 g/t Au (true thickness) and 5.2m of 35.4 g/t Au (true thickness).

Gary McLearn, A professional geoscientist (Ontario APGO #2900) and an Independent Qualified Person as defined by National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson

President and CEO

About St-Georges

St-Georges is developing new technologies to solve 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

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.

Thor Gold Riverbed – St. George Icelandic Gold Exploration Update $SX $SX.ca $SXOOF

Posted by AGORACOM-Eric at 11:23 AM on Monday, August 24th, 2020

St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1)is pleased to release the initial fire assays results from the preliminary surface exploration campaign conducted on the Thor Gold Project in order to prepare this summer’s shallow drilling campaign.

The Company’s exploration team collected grab samples from the dry riverbed on both sides of the river running to the west of the historical work areas (See Fig 1.) A total of eight samples were cut from the outcrops.

Figure 1. Project historical work locations and current targeted area in Red.

All grab samples have shown the presence of gold with assays results ranging from 0.001 g/t to 37.4 g/t.

The grab samples collected from the outcrop are, by nature, selected samples and are not necessarily representative of the mineralization hosted on the property.

Three of the grab samples located between 50 and 150 meters of the historical workings are deemed significant enough to warrant some adjustment to the previously planned shallow drilling grid for this summer’s campaign. These grab samples yielded the following results (Table 1):

 Silver g/tCopper %Gold g/tLead
Sample 0035.9 g/t0.015%11.75 g/tNot significant
Sample 0070.6 g/t0.014%2.47 g/tNot significant
Sample 00869.3 g/t0.216%37.4 g/t4.37%

Table 1. Fire Assays Results

Quality Control

Samples were collected and bagged by the SX geological team and transported in secure bags directly from the site to Iceland Resources’ secured warehouse facilities in Keflavik. From there, two Q/C blank samples were added to the other eight samples, and the batch traveled by plane to ALS Global Laboratories (ISO/IEC 17025 accredited) in Loughrea, Ireland. All samples were tested using four acid trace analysis (ME-ICP61). Samples that yielded precious metals content in excess of 10 ppm were analyzed a second time via gravity separation and fire assay finish.

About Thor Gold

The Thormodsdalur Gold Project is located about 20km east of the city center of Reykjavik and south-east of Lake Hafravatn. The project was discovered in 1908. The property produced a gold concentrate from 1911 to 1925, which was shipped to Germany for processing. Over 300 meters of tunnels explored and mined one or more quartz veins and wall rock below open cuts at the surface.

Studies between 1996 and 2013 identified the project mineralization as a low sulfidation system hosted by basic to intermediate flows of Pliocene to Miocene age. The host contains banded chalcedony and ginguro within a fault zone up to five meters in width. To date, the identified gold trend has a known strike length of 700 meters determined by drill intercepts. 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.

Thirty-two holes have been drilled within the license area, for a total of 2439 meters. Gold values vary from less than 0.5 g/t to a maximum of 415 g/t. (These values were obtained from selected random intervals and cannot be construed to be representative of any particular thickness or overall length.) The best intercepts from the diamond drilling are 33.5m of 8.0 g/t Au (true thickness) and 5.2m of 35.4 g/t Au (true thickness).

Gary McLearn, A professional geoscientist (Ontario APGO #2900) and an Independent Qualified Person as defined by National Instrument 43-101, has prepared and supervised the preparation and has approved the scientific and technical disclosure in the news release.

Mr. Herb Duerr, P. Geo. (AIPG, CPG #11498), a St-Georges’ director, has also reviewed the scientific and technical content of this release. Mr. Duerr is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson

President and CEO

About St-Georges

St-Georges is developing new technologies to solve 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

St-Georges $SX.ca Announces the Closing of Flow-Through Placement Offering; Updates on Icelandic Hydro-Electric Project

Posted by AGORACOM-JC at 6:57 PM on Monday, December 31st, 2018
  • Mr. Vilhjalmur Vilhjalmsson, President and CEO of St-Georges, commented, “We are grateful for the continued support of our shareholders as well as from our multiple partners.
  • 2018 has been a challenging year for the management of St-Georges, however we are pleased with the effort of the team and the results that has brought us. The management would like to thank all its supporting shareholders and wish everybody a happy new year.”

Montreal / December 31, 2018 St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that, further to its press release dated December 20, 2018, today it issued 2,550,000 Units pursuant to its non-brokered private placement for total gross proceeds of $255,000.

Proceeds of this Offering will be used to further finance the Corporation’s prospecting, drilling and other exploration and development expenses and activities, which qualify as eligible Canadian exploration expenses, as defined under the Income Tax Act (Canada) (“Qualifying Expenditures“), on or before December 31, 2019. The Corporation will renounce the Qualifying Expenditures to investors with an effective date of no later than December 31, 2018.

Each Unit issued under the Offering is comprised of one (1) common share in the capital of the company (a “Share“) issued on a flow-through basis, and one half of one (1/2) Share purchase warrant (each whole, a “Warrant“). Each Warrant entitles the holder thereof to purchase one (1) Share at an exercise price of: (i) $0.20 per Share until September 30, 2019 (the “Early Exercise Period“), and (ii), thereafter, at a $0.50 per Share until June 30, 2020 (together with the Early Exercise Period, the “Warrant Expiry Date“).

In the event that, during the period following 4 months from the Closing Date, the volume-weighted average trading price of the Shares on the Canadian Securities Exchange (“CSE“) exceeds $0.25 per Share for any period of 10 consecutive trading days, the Corporation may, at its option, following such 10-day period, accelerate the Warrant Expiry Date by delivery of notice to the registered holders (an “Acceleration Notice“) thereof and issuing a press release (a “Warrant Acceleration Press Release“, and, in such case, the Warrant Expiry Date shall be deemed to be 5:00 p.m. (Montreal time) on the 30th day following the date of issuance of the Warrant Acceleration Press Release.

The securities issued in connection with the Offering are subject to the applicable statutory hold period ending May 1, 2019. The Offering is subject to receipt of applicable regulatory approvals, including the approval of the CSE.

Icelandic Hydro Electric Dam Project Update

St-Georges also announces that, further to its press release dated October 11, 2018, today it issued 2,000,000 Shares to Spa ehf following their conversion of the $200,000 debenture issued as partial consideration to acquire a 15% equity interest in Islensk Vatnsorka EHF.

Mr. Vilhjalmur Vilhjalmsson, President and CEO of St-Georges, commented, “We are grateful for the continued support of our shareholders as well as from our multiple partners. 2018 has been a challenging year for the management of St-Georges, however we are pleased with the effort of the team and the results that has brought us. The management would like to thank all its supporting shareholders and wish everybody a happy new year.”

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON, 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

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.

Copyright (c) 2018 TheNewswire – All rights reserved.

St-Georges $SX.ca Announces that #Iceland Government Grants Exploration License on Trollaskagi #Gold #Mining

Posted by AGORACOM-JC at 2:37 PM on Thursday, August 17th, 2017

Sx large

  • Received licensing documentation from the Icelandic government confirming that a definitive license to conduct mineral exploration on the Trollaskagi permit
  • Identified as EL06, granted to the company in July

Montreal, Quebec / August 17, 2017 – St-Georges Platinum and Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that it has received licensing documentation from the Icelandic government confirming that a definitive license to conduct mineral exploration on the Trollaskagi permit, identified as EL06, was granted to the company in July.

As per press release dated March 16, 2017, St-Georges gained control, directly or indirectly, of all the active mineral tenures in Iceland through the acquisition of Iceland Resources EHF. The newly granted exploration license covers 1017.7 square kilometers and is located in northern Iceland near the town of Akureyri. The area is fairly accessible; tracks and roads encompass the majority of the permitted zone. The Company can also rely on the infrastructure of nearby municipalities.

Figure 1. Location of the Trollaskagi license in Iceland


Click Image To View Full Size

Peaks in the region reach 1,538 meters above sea level. The area is characterized by calderas containing extensive rhyolite and low temperature zeolite alteration. A considerable reconnaissance effort was affected here by Melmi (Fleming, 2006) to identify any potential gold occurrences. Trollaskagi is located in an area with a mapped felsic central volcano that has not been explored in work conducted by previous explorers, Teck and Melmi. In 2006, Melmi conducted a program of stream sediment sampling in most of the major valleys using roads, tracks, and foot-traverses for access. Rock samples were also collected where alteration was encountered.

Figure 2. Trollaskagi regional access


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The license allows the holder to explore for minerals at surface, to research the dispersion, quantity and the geological and physical characteristics of the metals within the license area.

The license also allows the holder to perform drilling surveys in areas within the specified boundaries as long as the drilling program is submitted to the government and local authorities for compliance review and acceptance. This license does not give the holder permission to exploit a mining operation as mine permitting requires additional licensing reviews.

“(…) We are pleased with the decision of the Icelandic government in the matter of the Trollaskagi license,” said St-Georges’ president, Frank Dumas. “We have designed an initial exploration program for the area, which we expect to execute before the end of the next quarter. Findings will orient further work that should take place in late spring and summer of 2018. This is the second exploration license out of 8 applications that is granted to us and we are looking forward to continue our work in Iceland and move along the balance of our permitting effort (…) Achieving this milestone is essential as it demonstrates the expertise and commitment of our team in Iceland, and the Icelandic Government’s support of the development of the natural resource potential.”

Further information on the work program for Trollaskagi will be detailed in future press releases.

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.