Discovery of Thick Low-Grade Mineralization at Manicouagan Extends Known Mineralized Zone to a Length of 7 Kilometers
MONTREAL, Feb. 20, 2024 - St-Georges Eco-Mining Corp. (CSE:SX) (OTCQB:SXOOF) (FSE:85G1) is thrilled to announce the results of the 2023 drilling program at the company's Manicouagan Critical & Strategic Minerals Project, within the Nitassinan of Pessamit on the Québec North Shore. A total of five holes were completed as well as one hole extension that was deepened from the 2022 drilling program. All for a total of 1,421 meters. Holes MN23-1 through MN23-3 tested the interpreted eastern astrobleme identified by geophysical responses. The wide spaced holes intersected two to three zones of disseminated nickel-cobalt-chrome mineralization with intermittent Platinum Group Elements values (see table 1).
Thick intercepts up to 87 meters grading 0.28% nickel, 0.11% chrome and 0.012% cobalt from surface in hole MN23-1.
Hole MN23-2 was drilled 360 meters to the southwest of MN23-01. Hole 2 intersected 91.3 meters from surface grading 0.24% nickel, 0.29% chrome, 0.011% cobalt and included a 5-meter section grading 0.46% nickel, 0,12% chrome, and 0.012% cobalt with 0.515 g/t combined platinum & palladium.
Hole MN23-03 intersected 56.4 meters grading 0.21% nickel, 0.21% chrome and 0.011% cobalt from surface.
Each hole contained 20 to 24% magnesium within the host rock suggesting an ultramafic origin.
Anomalous PGEs were found intermittently throughout each of the three holes.
Holes 4 and 5 targeted anomalies suggested from the downhole electromagnetic (EM) surveys conducted in early 2023.
MN23-04 did not intersect significant nickel but did encounter a 1-meter interval of anomalous copper at 0.14%, and more importantly, 1 meter grading 1.35 g/t PGE with no correlation to any base metals. This interval may suggest potential for disseminated PGE mineralization elsewhere in the system which has not previously been identified. The EM conductor was not evident within the formations encountered.
Hole MN23-05 intersected two relatively narrow, low-grade zones of nickel-chrome-cobalt at approximately the right elevation indicated as an EM conductor. However, two thick strong zones (57 and 43 meters) of iron were intersected between the Ni-Cr-Co zones identified above. These values were up to 34% Fe over 1 meter and averaged 17% Fe and 13% Fe percent respectively (see Table 1).
Due to the significant values in the entire PGE suite (platinum, palladium, iridium, osmium, rhodium and ruthenium), St Georges has pulled samples from historic drilling to reassay for the entire suite of PGEs. Several zones of high-grade mineralization containing Ni-Cu-Co-As were found to contain significant values in the rest of the PGE suite.
A total of over 600 core samples are being tested for the full PGE suite. The significant added value to mineralization found on the Project may help provide more definition to targeting of future drill holes.
Herb Duerr, president of St-Georges Eco-Mining, commented: "…I am excited by the latest drill results for Manicouagan. …There is a proven corridor at least 7 kilometers in length and 2 kilometers in width with both disseminated and massive base and precious metals. …Further work shall be carried out in a future drill program that is presently being designed and permitted."
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.
ON BEHALF OF THE BOARD OF DIRECTORS
'Herb Duerr'
HERB DUERR
President & CEO
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The Company explores for nickel & PGEs on the Manicouagan and Julie Projects on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, StGeorges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and as SXOOF on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
Visit the Company website at www.stgeorgesecomining.com
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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.
SOURCE: St-Georges Eco-Mining Corp.