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St. Georges Eco $SX.ca $SXOOF Altair Provides Update on Lithium Extraction and Battery Recycling Technology $NNX.ca $OM.ca $ICM.ca $ATAO

Posted by AGORACOM at 8:43 AM on Tuesday, January 26th, 2021
  • The two companies to jointly develop a patentable industrial scale process for Electric Vehicle Lithium-ion battery (LIB) recycling.

Altair International Corp. (the “Company” or “Altair”) (OTC: ATAO) is pleased to provide an update on its previously announced partnership with St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) (“St-Georges”) a Canadian public company engaged in the development of new Lithium extraction technologies.

On December 1, 2020 the two companies entered into a Binding agreement that would allow Altair access to St-Georges’ patent-pending Lithium processing technology for Altair’s Nevada based Stonewall project and most importantly bring together the two companies to jointly develop a patentable industrial scale process for Electric Vehicle Lithium-ion battery (LIB) recycling.

As the global Electric Vehicle (EV) market heats up over the coming decade, the demand for battery metals is expected to outpace current production. Even with increased energy density and charge cycles, Lithium based batteries for EVs, laptops, phones and other mobile devices will create cumulative waste challenges both in the environmental footprint of production and end-of-life LIB disposal.

Altair and St-Georges recognize that new optimized recycling technologies will offer valuable solutions to both a waste-management and battery metal supply. Selective, economic and responsible metal extraction of spent LIBs will be an integral part of the multi-billion dollar green economy and play a crucial part in the future of EV dominance of the automotive sector.

Read More: https://agoracom.com/ir/St-GeorgesEco-Mining/forums/discussion/topics/753930-st-georges-eco-altair-provides-update-on-lithium-extraction-and-battery-recycling-technology/messages/2300224#message

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 1st, 2021 and a second payment of US $150,000 on or before August 1st, 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.

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.

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

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.

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

St-Georges $SX.ca Has Secured the Ownership of All Mineral Licenses in the Republic of Iceland $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM at 10:10 AM on Monday, October 26th, 2020
  • Completed the acquisition of Melmi EHF, the Icelandic corporation that owned the majority interest in the Thor Gold Project
  • Acquisition allows St-Georges to control its destiny and plan its exploration campaigns with no interference

Reykjavik – TheNewswire – October 26, 2020 St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to report that it has completed the acquisition of Melmi EHF, the Icelandic corporation that owned the majority interest in the Thor Gold Project and the remainder or the Icelandic mineral licenses not already controlled by St-Georges.

This transformative acquisition gives total control over the mineral licenses of the Republic of Iceland to St-Georges, making it the only junior exploration company to own all the mineral rights of a western country. This acquisition allows St-Georges to control its destiny and plan its exploration campaigns with no interference. It also gives the Company’s geological team access to extensive libraries of geological data, a large number of historical mineral samples and a well-maintained and secured national core shack that will be useable for future development. Furthermore, all the diamond drill cores from the Thor Gold project are now in the Company’s ownership and possession. The Company expects to be able to resample these cores in the process of elaborating its maiden NI 43-101 Gold-Silver and Copper resource estimate on the Thor Gold Project.

The Melmi EHF Acquisition

As previously disclosed in a press release on July 2, the Corporation will pay up to CA$775,000 in consideration of all the Melmi EHF shares as follows:

  1. (i)pay $65,000 upon the execution of the definitive share purchase agreement (the “Definitive Agreement”)
  2. (ii)pay an additional $60,000 on the earlier of: (a) 90 days of execution of the Definitive Agreement; and (b) the start of drilling on the Thor Gold Project;
  3. (iii)issue $400,000 of non-transferable debentures of the Corporation bearing a 6% annual interest, maturing 3 years from issuance (the “Maturity Date”), of $100,000 will be convertible into common shares in the capital of SX (the “SX Shares”) at a deemed price of $0.10 per SX Shares, $150,000 at a deemed price of $0.15 per SX Shares, and $150,000 at a deemed price of $0.20 per SX Shares; and
  4. (iv) as additional consideration, subject to and upon all the Licences Application having been granted, issue $250,000 non-transferable debentures of SX bearing a 6% annual interest, maturing 3 years from issuance, and convertible into SX Shares at a deemed price of $0.20 per SX Shares.

Iceland Operational Update

In September, the Corporation drilled a reversed circulation (RC) drill hole for a total length of 124 meters.

In October, reconnaissance and follow-up fieldwork was conducted in Vopnafjordur (Vopna) and Trollaskagi (Trolla) projects. Mineralization bearing outcrops were identified and sampled and brought to St-Georges’ secure facilities in Reykjavik for petrographic analysis. Some of the

se samples were prepared to be sent for assays to ALS Laboratories in Dublin, Ireland. Management expects that the results of these essays will become available later this year, and the Company expects to report on it as soon as the information becomes available.

Picture 1, Outcrop on Trolla Gold Project

Picture 2. Outcrop on Trolla Gold Project

Picture 3. Close up of a Quartz Vein from an Outcrop on Trolla

Picture 4 & 5: Quartz Vein from Trolla Outcrop (Picture 3) Under Magnifying glass (10X)

Picture 5. Magnified Quartz vein from Trolla Outcrop gold is associated with pyrite in Iceland

Picture 6. Outcrop at Trolla Gold Project

Picture 7. Water Stream over Outcrop at Vopna Gold.

About Iceland

Iceland climate, location, access and infrastructure (Histed,R,2010)

Located in the North Atlantic, approximately midway between Greenland and Great Britain, the warm North Atlantic Current ensures that the climate in Iceland, described as subpolar, oceanic, has generally higher temperatures than locations of similar latitude throughout the world. Regions or places that have similar climate are Tierra del Fuego, the Aleutian Islands and Alaskan Peninsula. Although Iceland lies close to the Arctic, its coasts remain ice-free year-round.

As can be expected, the southern coast is generally warmer, wetter and windier than the northern coast. The lower-lying, inland areas in the north are the most arid, although snowfall in the north during the winter months is greater than in the south.

Historically, recorded temperature extremes for the country are 30.5 C and -38.0C. The high in Reykjavik was 26.2C in 2008, and the low there was -24.5C in 1918. Although the Icelandic climate can be harsh, the GI-Melmi JV completed a drilling program at Thormodsdalur (Thor Gold Project) from November 2005 through May 2006 without undue difficulty. In the north, the increased snowfall would make an effort such as this more difficult. Reconnaissance is to be limited to the summer months.

Iceland’s infrastructure is well developed and modern. Road construction was begun around the start of the 20th century and peaked during the 1980’s. The roads are well constructed and maintained asphalt, although some gravel roads are still found. The current road system connects most of the larger towns and villages and is mostly confined to the coastal areas. Currently, there are a total of 12,691 kilometers of roads in Iceland that includes 3,262 kilometers of paved surface. Inland road access diminishes to dirt roads to no roads making access to some areas difficult, requiring foot travel or helicopter support. There are no railroads in Iceland.

Geological Setting

Iceland occurs at the junction of two large physical structures; the Mid Atlantic Ridge and the Greenland-Iceland-Faeroes Ridge (Figure 9). At this intersection, the mantle is hotter and less dense than the surrounding mantle. The mantle material rises as a result of heat and chemical-related density differences resulting in a dome in the crust above. This hotspot is causing a higher rate of extrusive volcanism at this point on the Mid Atlantic Ridge, which has, in turn, caused the region to be built up to a level more than 3 kilometers above the surrounding seafloor and covers an area of more than 350,000 km2. This is known as the Iceland Basalt Plateau. The portion of the plateau above sea level is now the country of Iceland (Martin, et al., 2007).

Tectonic Setting

In the Mid Atlantic Rift environment, the central portions of Iceland have moved outwards, away from the zones of active rifting and crustal development such that oldest rocks occur towards the margins and youngest in the center. Due to the migration of the hotspot to the south-east with time, an asymmetry has been imparted to the shape of the island. Currently, the hotspot lies under the south-eastern quadrant of the island (Corbett, 2004). This area now denotes the zone of active rifting and volcanism. Figure 10 shows the geology of Iceland defined by tectonic zones that coincide with the ages of the rocks.

Principal Tectonic Zones

The significant rift systems that have focused volcanism through time are noted below.

  • – The Snaefellsnes-Skagi Rift Zone in western Iceland was active in the 16-6.5 m.y. period. – The Reykjanes-Langjokull Rift Zone in central western Iceland resulted in the development of the Reykjanes Peninsula from about 6 my. – The North Volcanic Rift Zone became active from 3-4 my and extends to the present time. – An Eastern Volcanic Rift Zone is developing at this time.

Significant quantities of felsic intrusive and extrusive rocks occur in the dominantly basaltic sequence, and the felsic rocks locally display gold-anomalous hydrothermal alteration (Corbett, 2004).

Structurally, NE fractures reflect the spreading centre direction and are, therefore, some of the most numerous and laterally extensive fracture patterns, commonly evident as normal faults that may be exploited by dykes. NS and ENE fractures are developed as conjugate fractures during the NW-SE extension.

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.


Click Image To View Full Size

Figure 1. Mineralization floating on top of drilling mud


Click Image To View Full Size

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 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


Click Image To View Full Size

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.