Exploration « AGORACOM Small-cap Investor Relations Blog

Posts Tagged ‘Exploration’

Durango $DGO.ca Engages Additional Drill Company for Windfall Lake $OSK.ca $BTR.ca $SII.ca $TLG.ca

Posted by AGORACOM at 9:30 AM on Friday, December 18th, 2020

Vancouver, BC – TheNewswire – December 18, 2020 – Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OT C :ATOXF), (the “ Company ” or “ Durango ”) is pleased to announce it has engaged an additional drill company for its exploration program on its wholly owned properties at Windfall Lake, Québec .

East Barry Property

Further to the news release of November 19, 2020, Durango has received drill permits for the East Barry claim block to test high priority targets coincident with high till anomalies of up to 2.19 g/t gold and pristine gold grains in till trend. Now that weather conditions are favourable for preparing access, a drill has been commissioned to test a geophysical anomaly which also coincides with an artificial intelligence (“ AI ”) target. The Company has hired Faubert & Fils from Val d’Or, Québec, to complete several initial exploration drill holes on its East Barry Property.

Trove Property

To date, 1,700m has been drilled in eight holes on the Trove Property at an average depth of 213m. Drilling is still continuing at the Trove Property with the drilling crew working on hole #9. As noted previously, the objective of the drill campaign is to test IP anomalies derived from previous exploration work.

The main lithologies observed in the drill holes are represented by mafic to intermediate volcanics, metasediments and felsic intrusives crosscut by quartz feldspar porphyry (“ QFP ”) and felsic dikes containing disseminated to semi-massive sulphides. Molybdenite, chalcopyrite and silver indicator alterations were also observed. The lithological contacts are marked by chlorite-epidote-carbonate alterations containing centimetric to decimetric mineralized quartz veins. The labs continue to be delayed and backed up due to extremely high quantities of samples they are receiving from multiple exploration companies and a shortage of personnel.

Durango’s high priority targets remain undrilled due the land condition caused by unseasonably warm weather, which has prevented the freezing required for access to the drill hole locations. Durango has 20 high priority holes planned for drilling on the Trove Property, between 200 and 800 meters deep, when the ground is sufficiently frozen to permit drill access.

Marcy Kiesman, CEO of Durango, stated, “The unseasonably warm weather has been challenging for our inaugural drill campaign on the Trove Property. We have completed initial drilling which will help our exploration team understand the local geology and structure in the area. As the weather in the area has recently become seasonably cold, we expect that our high priority targets will be drilled early in January. We are drilling in one of the best regions in Canada to find gold, we are fully financed and will continue to drill into 2021. We anticipate an exciting year ahead for Durango and our shareholders.”

The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Trove Property has not yet been subject to an NI-43-101 report.

Trove Property, Québec

Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Québec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is currently undertaking its inaugural drill program.

East Barry Property, Québec

Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko’s holdings and the southern perimeter of Bonterra’s holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization (“ IP ”) survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.

About Durango

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Québec , Canada.

For further information on Durango, please refer to its SEDAR profile at www.sedar.com .

Marcy Kiesman, CEO

Telephone: 604.428.2900 or 604.339.2243

Email: [email protected]

Website: www.durangoresourcesinc.com

Tags: #BTR, #DGO, #Discovery, #Drilling, #Gold, #OSK, #Quebec, #silver, Abitibi, EastBarry, Exploration, Osisko
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St-Georges $SX.ca Inks Licensing & Development Agreement for Lithium Processing Technology $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM at 7:27 AM on Tuesday, December 1st, 2020

St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to announce that it has signed a Binding Letter of Intent with Altair International (US-OTC: ATAO) pursuant to which St-Georges has agreed to provide access to its patent pending lithium processing technology for lithium-in-clay mineral deposits, and also agreed to jointly develop a patentable electric vehicle battery recycling industrial process.

In return for the access to the lithium processing technology and as part of their contribution in the development of patentable intellectual property in regard to EV Battery Recycling, Altair will issue 2,000,000 common shares at signature of this Binding LOI. The company will also commit to 2 subsequent share issuance of 2 million shares each, the first at the filing of a joint patent application in regards to the battery recycling R&D effort and the second at the start of an Industrial Pilot Plant demonstrator of the battery recycling process. If all milestones are completed, a total of 6 million common shares of Altair will be issued in favor of St-Georges.

Altair will also make a total of US $300,000 cash payments to St-Georges. A first payment of US $150,000 on or before April 1^st, 2021 and a second payment of US $150,000 on or before August 1^st, 2021. Both companies will contribute equally to the battery recycling research & development effort and to the design and construction of a battery recycling industrial pilot-plant circuit in St-Georges contracted installations in Quebec.

Royalties

On Altair Nevada Lithium Project

The Parties will establish a 5% royalty stream on the commercial output of the Nevada Property for the whole mine life period. This royalty will be transferable at the discretion of St-Georges or its successors. It will be opposable to any successors of Altair as a lien on the mining assets. St-Georges and Altair will negotiate a right of first refusal in favor of Altair. The royalty, to be negotiated within the guidelines of the “Royalty Formula”, will take the form of a Net Revenue Interest or Net Revenue Return (“NRR“).

Based on the location of the lithium-in-clay mineral project of Altair, 20% of the established NRR will be assigned to Iconic Minerals (TSX-V: ICM) based on current active agreements between the two companies.

On the Commercial Recycling of EV Batteries

The parties will establish a mutually beneficial partnership royalty stream on the commercial implementation and output of the battery recycling technology. The proportionate ownership will be transferable at the discretion of St-Georges, Altair or its successors.

The parties agreed to enter into a long form Definitive Agreement on or before February 5, 2021. Definitive agreement will be subject to review by regulatory authorities.

The companies expect to issue additional information in the coming weeks regarding the joint battery recycling technology development effort.

Vilhjalmur Thor Vilhjalmsson, St-Georges’ President & CEO commented: “(…) With the continued work of our research and development team, it is a great pleasure to team up with Altair to take this process further. The SX team has been looking at alternative methods, including using our proprietary technology in recycling EV batteries. We can see this as an opportunity to further broaden the scope of our developments and welcome the partnership. This will also enable us to finetune the Nevada operations already in place with Iconic Minerals over the forthcoming years (…)”

Leonard Lovallo, President of Altair, commented that “We believe that the lithium extraction and purification processes which St-Georges has developed have the potential to reshape the economics of the lithium mining sector, and we are incredibly excited to have partnered with them on this endeavor. As the demand and marketplace for lithium continues to expand with the ever-increasing popularity of EV vehicles across the globe, the scope and applications of the technologies which we are partnering with St-Georges on will only increase.”

Lithium Processing Technology Update

St-Georges technical team is now ready to initiate work aimed at optimizing the purification process of its lithium process and recuperation technology. The objectives are to minimize chemical losses, optimize total process recovery and optimizing the value of the byproducts. The company also intends to validate multiple resources and assure the selectivity of lithium recovery works on different types of resources.

Multiple initiatives will be run in parallel with the company’s strategic partners and suppliers. This effort should lead to a complete metallurgical simulation to size and price equipment. St-Georges is committed to utilizing multiple laboratories in parallel in order to protect intellectual proprietary processes and to accelerate IP extension.

St-Georges contractors have completed the preparation of a spodumene concentrate sourced from a Quebec based mineral resources and the company is now ready to initial leaching tests in a pilot plant environment. The company is expecting material recently prepared from the Bonnie Claire Project in Nevada from its partner Iconic Minerals. The company expects to run a complete pilot mining processing circuit on reception of the material. This next development effort should establish the recuperation and purification parameters needed specifically for that project as well as the final tweaked chemical recipe for the resin used to coat the lithium balls used in the last recuperation and refining stage.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON
President & 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 all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Quebec’s North Shore.

Tags: Control, Discovery, Eco, Exploration, gold, Green, iceland, SX, Thor
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CLIENT FEATURE: St. George Eco Mining $SX.ca: Using Hydrothermal Energy to Develop 100% Owned Iceland Gold Targets $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM at 9:32 AM on Wednesday, November 25th, 2020

Planning to Use Hydrothermal Energy to Drill Iceland Gold Targets

St-Georges Eco-Mining Corp. plans on reviving Iceland’s long-dormant gold mining industry by using its vast abundance of renewable energy to drill for gold. St. George’s emphasis will be on making the most eco-friendly and socially responsible gold in the world.

St-Georges, is the only junior exploration company to own all the mineral rights of a western country
Controls all the active mineral tenures in Iceland
St-Georges plans to mine with robots, while the equipment and processing primarily will use electricity made from geothermal and hydro power by Landsvirkjun, the state-owned power company
Iceland is one of the countries with the highest ratio of green energy globally

Thormodsdalur Project is the most advanced project in Iceland

Drilled a 124-meter-deep (407-foot-deep) hole in Thormodsdalur, outside Reykjavik, in September
Drilling up to 1,000 meters or up to 25 new shallow holes on the Thor Gold project
Opportunity to extract epithermal gold with geothermal power
Total area in excess of 4,600 km2 with 9 prospecting licences
Mineralization bearing outcrops were identified and sampled and brought to St-Georges’ secure facilities in Reykjavik for petrographic analysis in October

Iceland Resources ehf ( 100% St. George Eco-Mining )

Controls all the active mineral tenures
Including drill ready Thor Gold Project
One of the countries with the highest ratio of green energy
100% renewable energy and zero carbon footprint.

Mining In Iceland

St. George’s emphasis will be on making the most eco-friendly and socially responsible gold in the world
St. George’s anticipates Iceland’s gold to be sold with a premium.
St. George’s ideology is about making minimal disturbances to the ground.
Thormodsdalur have minimal visible activity when mining activity starts
St-Georges will use all the material extracted from the ground during the mining process
After the minerals are separated, the remainder would be used in building material and concrete.

FULL DISCLOSURE: St. George’s Eco-Mining is an advertising client of AGORA Internet Relations Corp.

Tags: Control, Discovery, Eco, Exploration, gold, Green, iceland, SX, Thor, tsxv
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Gold Miners Free Cash Flow Yield Turns Positive SPONSOR: Durango Resources $OSK.ca $BTR.ca $SII.ca $TLG.ca

Posted by AGORACOM at 12:07 PM on Tuesday, November 24th, 2020

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sponsor: Durango owns 100% interest in the Trove claims, in the Windfall Lake area between Val d’Or and Chibougamau, Quebec., which are surrounded by Osisko Mining Inc. The property is compelling due to the coincidence of gold found in tills, coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. Durango is undergoing a final review process for the proposed 3,000m drill program in 2020. Click Here For More Info

Crescat November Research Letter:

Gold & Silver Miners Turn Over a New Leaf:

Top 50 largest gold and silver miners have had five straight quarters of positive free cash flow for the first time in the last three decades.
Gold and silver mining companies are the real beneficiaries of today’s macro environment with strong balance sheets, high growth, and still incredible undervaluation.

One of the few areas of the equity market that is meaningfully improving fundamentally is the precious metals mining industry. With gold and silver prices at their current levels, these companies are set to massively expand their margins. This is indeed a new phenomenon for the miners. After 25 years of constantly losing money and regrettably creating a long-standing reputation of being capital destroyers, this industry is becoming one of the most disciplined and profitable businesses in the global economy today. In fact, the median stock among top 50 largest gold and silver miners has had five straight quarters of positive free cash flow for the first time in the last three decades. We believe this is only the beginning. These stocks are becoming new cash flow machines with the strong support of precious metals prices moving higher. Gold and silver mining companies are the real beneficiaries of today’s macro environment with strong balance sheets, high growth, and still incredible undervaluation.

Risk Parity Exhaustion

Among all the demand drivers for gold, we view the lack of competing cheap assets being a major one. For the first time in history, junk bonds and stocks are record overvalued in tandem. We have only seen the exact opposite of this. That was in the Global Financial Crisis when US equities and corporate bonds both hit rock bottom. This time, we are on the other side of the coin. Both sides of the so-called risk parity strategy, stocks and bonds, are at extreme valuations. In a world of near zero to negative yields and frothy valuations across almost every risky asset, it will become imperative for investors to seek out undervalued assets that are true beneficiaries of the current macro environment. In our view, precious metals are poised to become the new core must-have asset for capital allocators. Gold and silver are risk-off alternatives to bonds in the portfolios of prudently minded investors in today’s market. At the same time, attractively priced, high-growth gold and silver mining companies serve to ignite the animal spirits of traders and investors looking for a risk-on alternative to overvalued, low-growth stocks at large.

source: https://www.crescat.net/crescat-november-research-letter/

Tags: #BTR, #DGO, #Discovery, #Drilling, #Gold, #OSK, #Quebec, #silver, Abitibi, EastBarry, Exploration, Osisko, Trove
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St-Georges $SX.ca Discovers a New 80 Meters Long Gold Mineralized Zone at Thor Gold Project $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM at 8:48 AM on Monday, November 23rd, 2020

Interval contained gold mineralization averaging 0.24 g/t over 80 meters with gold grades ranging from 0.01 g/t up to 6.21 g/t.

Reykjavik – TheNewswire – November 23, 2020 -St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to disclose the results of the reverse circulation research hole TRC 20-01 authorised prior to the acquisition of Melmis EHF earlier this fall.

The 124m hole intersected a broad zone of low grade disseminated mineralization near surface. At depth of 41.5m the team intersected and confirmed with preliminary assays the existence of a thick interval that contained gold mineralization averaging 0.24 g/t over 80 meters with gold grades ranging from 0.01 g/t up to 6.21 g/t.

Within that zone a section of 9.9 meters averaged 0.7 g/t gold starting at 55 meters depth and included 2.1 meters of 1.67 g/t gold. A separate zone assayed 6.21 g/t over 0.3 meters at a depth of 98 meters.

The company is in the process of renting new facilities that will allow a streamlined sampling process. As soon as the installation is ready, all samples on 30cm intervals will be relogged and certain samples will be reanalyzed for gold and trace elements by independent laboratories in Dublin Ireland. Duplicate samples are a necessary protocol when gold values exceed one g/t gold in a known low sulfidation vein system with historic high-grade gold values. Trace element geochemistry may further assist in vectoring in on the better parts of the system. The company expects to conduct the next hole at an angle of 85? from the same location to confirm its hypothesis.

This initial hole was drilled between two previously known mineralized and drilled areas of the project. The purpose of the hole was to provide continuity of alteration and mineralization between these two zones. Additional holes are planned along strike and at depth as a follow-up of hole TRC 20-01. This RC hole was drilled at -45 degrees and azimuth 110?. Following the acquisition of Melmis, St-Georges is less restricted on the location and depth of future drilling.

Based on geological logging to date, mineralization is disseminated over a thicker interval and not limited to quartz veining which is the preferential host for high-grade gold elsewhere in the Thor system.

Based on the results from this recent hole, St-Georges geological team believes that we are looking at a strong hydrothermal system that is mineralized with gold over apparent broad widths currently more than 700 meters of strike.

Iceland Resources, St-Georges’ Iceland wholly owned subsidiary’s CEO, Thordis Bjork Sigurbjornsdottir, commented: “(…) We are very pleased with the preliminary results from our maiden hole within the project, we feel it supports our theory in regards of the geological settings and that the system could potentially prove to be expanded on a much larger surface than what was previously expected. These results are encouraging on our path to our first maiden resource. The team is evaluating next steps and is anticipating additional positive surprises with further work(…)”.

Quality Control

Samples were collected in buckets then sealed and transported directly from the site to Iceland Resources’ secured warehouse facilities in Reykjavik by the SX geological team. The geological team sampled each bucket. The samples along with duplicate and Q/C blank samples were added to 2 shipments that 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).

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 excluding the 124 meters reverse circulation hole drilled by St-Georges in the Fall of 2020.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.

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

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON
President & CEO

About St-Georges

Tags: Control, Discovery, Eco, Exploration, gold, Green, iceland, SX, Thor, tsxv
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Durango $DGO.ca Provides Update on Windfall Lake Drill Campaign $OSK.ca $BTR.ca $SII.ca $TLG.ca

Posted by AGORACOM at 9:32 AM on Thursday, November 19th, 2020

Durango Resources Inc.(TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the “Company” or “Durango“) is pleased to provide an update on the exploration program on its wholly owned Trove Property and East Barry Property at Windfall Lake, Quebec.

Trove Property

To date, 1,047m have been drilled in six holes on the Trove Property at an average depth of 174m. The objective of the drill campaign is to test IP anomalies derived from previous exploration work on the Trove Property. The Company is satisfied that the induced polarization (“IP“) target zones have been intersected as planned on the first six holes. Further, approximately 1,000 samples are pending assays at the labs. The samples were submitted to the labs in batches as they were collected, and are expected to be completed soon.

Unseasonably wet and warm weather in the Windfall area has proved challenging for moving the drill between holes at Trove. The weather provided the exploration team an opportunity to take a short break which also helped to reduce the back log with the labs (currently up to 45 day turn around) before the scheduled resumption of drilling expected on Monday, November 23, 2020. Another six high priority holes are planned on the Trove Property to test coincident geophysical and geochemical anomalies beginning on Monday.

East Barry Property

Durango has recently submitted drill permit applications for the East Barry claim block to test a high priority target coincident with high till anomalies of up to 2.19 g/t gold and pristine gold grains in till trend. As soon as the weather conditions are favourable for access, a drill will be commissioned to East Barry to test a geophysical anomaly which aligns with an artificial intelligence (“AI“) target.

Marcy Kiesman, CEO of Durango, stated, “While the warm weather was helpful for Durango’s exploration crew expanding the ground exploration program onto the East Barry Property this past month, it has created challenges for drilling on the Trove Property. Our team has been successful working on three of the four IP grids and drilling six of the high priority holes as planned on the Trove Property thus far. Our team was also effective in completing surface work on the East Barry Property which provided a compelling case for test drilling in an area with a known AI target. We look forward to continued drilling into the winter months and releasing the assay results as they become available.”

Trove Property, Quebec

Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is currently undertaking its inaugural drill program.

East Barry Property, Quebec

Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko’s holdings and the southern perimeter of Bonterra’s holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization (“IP“) survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.

About Durango

For further information on Durango, please refer to its SEDAR profile at www.sedar.com.

Marcy Kiesman, CEO

Telephone: 604.428.2900 or 604.339.2243

Email: [email protected]

Website: www.durangoresourcesinc.com

Tags: #BTR, #DGO, #Discovery, #Drilling, #Gold, #OSK, #Quebec, #silver, Abitibi, EastBarry, Exploration, Osisko, Trove
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AGORACOM Small Cap 60: Durango Resources (DGO:TSXV) Drilling The Trove Property in Windfall Lake Adjoining Osisko $OSK.ca $BTR.ca $SII.ca $TLG.ca

Posted by AGORACOM at 9:53 AM on Wednesday, November 18th, 2020

Highlights:

Maiden Drill program underway at Trove
Located in Windfall Lake gold District
- Surrounded by Osisko
100% interest in the Trove and East Barry claims
Currently the most active gold exploration camp in Canada
- 21 drill rigs onsite at Windfall in 2020
40% Inside Ownership
- Marcy Kiesman, President & CEO owns 16%
Positioned for Discovery

Tags: #BTR, #DGO, #Discovery, #Drilling, #Gold, #OSK, #Quebec, #silver, Abitibi, EastBarry, Exploration, Osisko, Trove
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Gold Miner $SX.ca Wants to Use Iceland’s Renewable Energy to Drill SPONSOR: St George Eco Mining $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM at 9:05 AM on Thursday, November 12th, 2020

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

St-Georges Eco-Mining holds all exploration licenses in nation
CEO says the ‘green gold’ should command a premium price

Exploration in Tröllaskagi (Troll’s peninsula) North Iceland. Source: Iceland Resources

Canadian explorer St-Georges Eco-Mining Corp. wants to revive Iceland’s long-dormant gold mining industry by drawing on the Nordic nation’s abundance of renewable energy.

The Montreal-based miner finished drilling a 124-meter-deep (407-foot-deep) hole in Thormodsdalur, outside Reykjavik, in September and may publish the results this month. Previous drilling cores indicated gold quantities of as much as 415 grams per ton there, though more research is needed to determine the size of the deposit, Chief Executive Officer Vilhjalmur Thor Vilhjalmsson said in an interview.

If the veins are big enough, St-Georges plans to mine with robots, while the equipment and processing primarily will use electricity made from geothermal and hydro power by Landsvirkjun, the state-owned power company. The moves come after gold hit a record in August and is up more than 20% this year.

“Our emphasis will be on making the most eco-friendly and socially responsible gold in the world,” Vilhjalmsson said. “We foresee that our gold would be sold with a premium.”

In an environment as pristine as Iceland’s, the potential for gold mines to pop up may trigger alarms among the island’s 364,000 residents, given the industry’s reputation for polluting and scarring the landscape. But Vilhjalmsson says his operation will be different.

“Our ideology is about making minimal disturbances to the ground,” he said. “In Thormodsdalur, you will hardly see it when mining activity starts.”

St-Georges will use all the material extracted from the ground during the mining process, Vilhjalmsson said. After the minerals are separated, the remainder would be used in building material and concrete.

Experimental Mining

The Canadian miner holds all exploration licenses for gold in Iceland after acquiring local corporation Melmi Ehf last month. Melmi owned the majority interest in the Thor Gold Project in Thormodsdalur, about 20 kilometers (12 miles) east of the capital.

Vilhjalmsson, 45, previously worked on mining projects in Greenland and Africa. He is optimistic that experimental mining in Iceland will start this decade, and he expects to spend almost 500 million Icelandic kronur ($3.6 million) on research during the next few years.

“We anticipate that by using the green energy Iceland offers, our production will be more cost-efficient than if we’d use fossil fuels,” he said. “We are in the process of doing a proof of concept for our model, and we hope it will be applicable to mining sites around the world.”

The company holds exploration permits for gold, silver and copper in three locations in Iceland and has applied for 11 more licenses. The Thormodsdalur endeavor will be funded through debt and private placement on the Canadian Securities Exchange.

The explorer’s shares have declined 25% so far this year, for a market value of C$10.4 million ($8 million).

‘Green Gold’

Grant Sporre, a senior analyst for metals and mining at Bloomberg Intelligence, said he is skeptical about the market opportunity since there’s no universal standard for what qualifies as “green gold.”

“It will be a while before any investors see a return on the Icelandic gold explorations component of their business,” he said.

Gold digging in Iceland started at the beginning of the 20th century. The Thormodsdalur site was discovered in 1905, and four years later the poet and entrepreneur Einar Benediktsson formed a mining company with investors from Norway, Britain and Germany.

The property produced a gold concentrate from 1911 to 1925 that was shipped to Germany for processing, but then the market faded away.

Interested renewed in 1989 after two Icelandic geologists, including Hjalti Franzson, studied the presence of gold in geothermal systems in New Zealand and Japan. That triggered local research funded by the Icelandic government. “There is enough gold in the ground here,” said Thorvaldur Thordarson, a professor in volcanology and petrology at the University of Iceland. “In Iceland, it’s perhaps not as concentrated in one place.

SOURCE: https://www.bloomberg.com/news/articles/2020-11-11/thor-s-gold-miner-will-use-iceland-s-renewable-energy-to-drill

Tags: Control, Discovery, Eco, Exploration, gold, Green, iceland, SX, tsxv
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AGORACOM Small Cap 60: Durango Resources $DGO.ca Drilling The Trove Property in Windfall Lake Adjoining Osisko $OSK.ca $BTR.ca $SII.ca $TLG.ca

Posted by AGORACOM at 12:12 PM on Friday, November 6th, 2020

Maiden Drill program underway at Trove
Located in Windfall Lake gold District
- Surrounded by Osisko
100% interest in the Trove and East Barry claims
Currently the most active gold exploration camp in Canada
- 21 drill rigs onsite at Windfall in 2020
40% Inside Ownership
- Marcy Kiesman, President & CEO owns 16%
Positioned for Discovery

Tags: #BTR, #DGO, #Discovery, #Drilling, #Gold, #OSK, #Quebec, #silver, Abitibi, EastBarry, Exploration, Osisko, Trove
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Durango $DGO.ca Dispatches Exploration Crew to East Barry Property at Windfall Lake, QC $OSK.ca $BTR.ca $SII.ca $TLG.ca

Posted by AGORACOM at 10:43 AM on Wednesday, October 21st, 2020

Vancouver, BC – TheNewswire – October 21, 2020 – Durango Resources Inc.(TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the “Company” or “Durango“) is pleased to report that further to its news release dated October 8, 2020, the Company has started an exploration program on the East Barry Property which is located 2km east of the Trove Property at Windfall Lake, Quebec.

The East Barry Property was recently expanded in size and is now 7,740 hectares, bordering Osisko Mining Inc. (TSX:OSK) on the west and Bonterra Resources Inc. (TSXV:BTR) on the north. Durango’s exploration crew was tasked with exploring the East Barry along the 10km long gold in till trend for geological reconnaissance. The crew has also been asked to proceed with a north south Spontaneous Polarity (“SP“) geophysical survey across an area of high interest.

Due to the rehabilitation of old access roads, the exploration team is able to complete geological reconnaissance in areas previously unaccessible on the East Barry Property. New outcrops have been discovered on high ground providing key geological information for the area. During this exploration campaign on the East Barry Property, a mineralized quartz feldspar porphyry (“QFP“) dike associated with quartz veins was discovered (see Figure 1).

Figure 1. QFP dike with 0.5 to 1% pyrite mineralization along the newly cleared road.

Marcy Kiesman, CEO of Durango, stated, “Durango’s exploration crew took the opportunity of favourable weather and newly rehabilitated roads to expand the ground exploration program onto the East Barry Property. The East Barry Property has minimal outcrop, so all of the information we can gather on rock exposure is extremely important in order to identify geological similarities with the Windfall Lake deposit and potential mineralization associations. Durango will continue to explore the East Barry Property in the upcoming weeks concurrently with its ongoing drill campaign on the Trove Property. We look forward to analyzing the results in comparison with our neighbours’ data.”

Trove Property, Quebec

East Barry Property, Quebec

Durango owns 100% interest in the East Barry claims which run parallel to Trove claims. The East Barry block is over 7,740 hectares in size and borders the eastern perimeter of Osisko’s holdings and the southern perimeter of Bonterra’s holdings and is less than 4km south of the Gladiator deposit. The East Barry claims host a gold trend which covers approximately 10km in length and is subparallel to the main Barry Fault held by Osisko Mining. In 2018, a till sampling program was conducted by Durango and one of the till samples returned forty-two (42) pristine gold grains with reported gold values of 2.184 g/t Au. A high count of pristine gold grains indicates that the gold has travelled a very short distance from its source. The East Barry block underwent an Induced Polarization (“IP“) survey in 2018 which identified a high priority target coincident with the high count of pristine gold grains.

About Durango

For further information on Durango, please refer to its SEDAR profile at www.sedar.com.

Marcy Kiesman, CEO

Telephone: 604.428.2900 or 604.339.2243

Email: [email protected]

Website: www.durangoresourcesinc.com

Tags: #BTR, #DGO, #Discovery, #Drilling, #Gold, #OSK, #Quebec, #silver, Abitibi, EastBarry, Exploration, Osisko
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