SXOOF - EVSX Batteries Recycling Initiative Progress & Thor Gold Project Updates
(TheNewswire)
Montréal - TheNewswire - May 17, 2021 - St-Georges Eco-Mining Corp. (C NSX :SX. CN ) (OTC:SXOOF) (FSE:85G1), an up-and-coming leader in green energymetals exploration, green technologies, and battery recycling, is pleased to provide an update on thedevelopment of the Thor Gold exploration project in Iceland anddisclose some significant changes in the advancement of the proposedbattery recycling plant project in Baie-Comeau.
Thor Project Development
St-Georges’ management in Iceland is pleased toreport that a first batch of samples from its resampling effort shouldarrive in Ireland by this Friday, where they will be assayed at ALSLaboratories’ facilities. The Company has been actively planning,budgeting, and initiating permitting, for a drilling campaign that isexpected to be on par with the exploration campaigns previouslyannounced for the Company’s Québec projects. Relogging andscanning with the XRF device for additional trace element data fromthe historical core now in St-Georges’ possession is still underway. This work coupled with detailed geology and structural analysis willoccupy our team of geologists for another month. It is expected thatby the end of the field season, the team will have collected andprocessed more than 5,000 samples that will be assayed by ALS inIreland.
Early results will guide the first phase of the majordrilling efforts to be initiated on or around July 15, 2021.
Proposed Battery Recycling PlantAdvancements
The Company received important information pertainingto the development of the proposed battery recycling plant last week. The Company received information regarding the necessity to conductan environmental impact public hearing (Bureau d'audiences publiquessur l'environnement or BAPE) for the project. The Company is nowaware that the first two phases of construction will not requirepublic audiences. It is not expected, at this point, that it willrequire any form of exemptions to be obtained by the government. This represents an acceleration of the pace of the project’sfuture growth by a factor of years.
Consequently, the options agreements announced on April19 must be adjusted. The activity permitting process will now solelybe conducted with the local authorities. Due to these anticipatedchanges, further adjustments and certain representations andwarranties will require additional time to complete. The partiesunderstand that time is of the essence and both sides are workingdiligently to complete and execute these agreements.
Lithium Extraction ProcessUpdate
The Company had previously disclosed that it had sourced a pilot-sizedindustrial electrolysis unit to add to its pilot plant operation. EVSXhas since found an existing pilot plant for this item with experiencedpersonnel. The Company will pursue full-sized equipment oncemethodology and specifications have been developed from the pilotplant work. Over the last month, EVSX has expeditiously organizedmany strategic partners to fulfill the challenges of lithium recyclingand production from a variety of batteries. This research is beingcoordinated with many organizations, with the Key PerformanceIndicators being divided amongst different groups based on their corestrengths.
ON BEHALF OF THE BOARD OF DIRECTORS
“HerbDuerr”
HERB DUERR
President & CEO
About St-Georges
St-Georges is developing new technologies to solve someof the most common environmental problems in the mining industry. TheCompany controls all the active mineral tenures in Iceland. It alsoexplores for nickel & PGEs on the Julie Nickel Project and theManicougan Palladium Project on the Québec’s North Shore.Headquartered in Montreal, St-Georges’ stock is listed on the CSEunder the symbol SX, on the US OTC under the Symbol SXOOF and on theFrankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for theadequacy or the accuracy of the contents of this release.
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