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 Projectis 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.
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.
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.
