SXOOF - Nickel Processing Technology & Julie Nickel Exploration Update
(TheNewswire)
Montréal - TheNewswire - December 8, 2020 - St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) announces an extension to the term of 11,855,500 common sharepurchase warrants originally issued as part of a private placementwith the final tranche closed on January 17, 2020. The expiry datewill be extended as follows:
| Number of Warrants: |
| Revised Expiry Date of Warrants: |
| New Expiry Date of Warrants: |
| 4,400,500 |
| February 29, 2021 |
| November 29, 2021 |
| 2,780,000 |
| March 18, 2021 |
| December 18, 2021 |
| 3,025,000 |
| March 23, 2021 |
| December 23, 2021 |
| 1,000,000 |
| April 3, 2021 |
| January 3, 2022 |
| 650,000 |
| April 17, 2021 |
| January 17, 2022 |
All other terms of the Warrants will remainunchanged. The Extension is subject to theapproval of the CSE.
Issuance of Stock Options
The Company also announced the issuance of a total of7,150,000 stock options for Management, Directors, and certainconsultants at an execution price of $0.20 and an expiry date ofDecember 7, 2025.
Julie Nickel Project Progress Update
St-Georges has completed a total of 9 surface testholes in the current on-going exploration campaign on the Julie NickelProject. These holes were completed using a hammer drill (DTH) andextending to average depths of 21 meters. Three historical trencheswere the targets of the current drill pattern. The Company’sgeological team tested several different types of known mineralizationpreviously identified at the surface. This work will assist inidentifying and understanding the relationship and potential fortargeting these different mineralized areas within the projectarea.
The material collected is in the form of fine rockchips and fine dust. It was bagged and sealed at every 1.5 meters ofhole length. The bags were transported and stored securely by theCompany’s contractor and brought to a secure warehouse under thesupervision of the contracted geologist. These bags have now beenprocessed. The material in each bag was spread over a small grid, andmultiple readings were taken with a handheld XRF Analyzer Spectrometerconducting X-Ray Diffraction Elemental Analysis. When the content ofthe bags returned readings in excess of 1% nickel, the entire bag’scontent was fed into a rippler device to mix the material in order togenerate two representative samples that will be sent to anindependent laboratory for analysis.
Picture 1. Content of one bag from aDTH hole drilled on Julie Nickel
At this stage of exploration, the Company believes thata significant amount of surface work is still required. The Companyhas designed a second phase exploration campaign to follow up on theresults from the current program. The second phase is expected tostart in May or June 2021, dependent on weather and other significantevents. This campaign is fully paid for, and diamond drilling shouldfollow quickly hereafter. The second phase will further explore therelationship between completed geophysical surveys and localization ofshallow surface nickel mineralization. The next phase should helpmodel where thicker zones of nickel may occur.
Julie Nickel Metallurgical Update
The Company collected over 100 kg of material fromJulie’s trench #1 to conduct a small bulk processing program. Characterization and metallurgical testing were conducted, as wellas tests with St-Georges’ developmental green nickel processinginitiative.
Further optimization of the metallurgy for the materialencounter will be underway in the coming weeks, with a primary focuson nickel and copper recovery with the addition of the optimization ofthe recovery of the by-products identified, such as sulfur that mayprovide sulfuric acid to third-party industrial projects beingdeveloped on the Québec North-Shore. The Company expects topresent its findings in this regard in the coming weeks to the Québecgovernment’s Northern Plan Agency.
The metallurgical work is conducted with Co;alia attheir installations under the supervision of St-Georges’ VP ofExploration, Mr. Enrico Di Cesare. A portion of the work completedfalls within the research initiative for which the Company received agovernmental grant.
The data obtained comes from the bulk samples chosenfor their known content in nickel and copper within trench #1. It istoo early in the project’s exploration and development to know ifthese results could be considered representative of the project’sgeneral metallurgy.
Below is Figure 2 . This chart represents the characterization of one batchprocessed.
The nickel found in the historical and recent assaysseems to be located almost exclusively in the pentlandite found in thesystem. The recrystallized nature of the pentlandite on Julie seemsto indicate an easy crystal to recover with flotation, and the earlymicroscopic evaluation indicates it should not be difficult to processthe nickel out of it. This crystal chemistry is ( NiFe)9S8. This type of nickel has the ideal ratio of1 to 1 for nickel to iron which helps reduce chemical costs lost tothe iron. These formations also contain cobalt that will be focused onin later stages. Ideal for battery grade nickel.
This type of nickel can also complement ferro nickel projects,including the BCM Foundry Project being proposed on the North-Shore.Over the next few months, the Company will conduct trials for ferroalloys and will optimize total recovery ofexperimentation.
The recrystallized copper-bearingchalcopyrite (CuFeS2) is expected to bea candidate for recovery by flotation, making it potentially animportant credit to any proposed industrial processing operation. StGeorge intends to evaluate different options to optimize the value ofthe copper units.
Below is Figure 3. This chart represents the elements in % identified in thesame batch of material processed.
The technical information in thisrelease has been reviewed and approved by Mr. Herb Duerr, P. Geo.St-Georges' director, a qualified person as defined by NationalInstrument 43-101 Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
“Enrico DiCesare”
ENRIO DI CESARE
VP Research & Development
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.
Copyright (c) 2020 TheNewswire - All rights reserved.