Isoukustouc Exploration Update
March 13 2013 - 12:05PM
Access Wire
Montreal, Quebec, March 13, 2013 - St-Georges Platinum and Base
Metals Ltd. (OTCQX: SXOOF) (CNSX: SX) (BSE: 85G) is pleased to
release an exploration update on its wholly-owned Isoukustouc
Copper-Nickel-Cobalt and Platinum-Palladium Project located 74
kilometers, or 46 miles, from the deep-sea port town of Baie-Comeau
on the Quebec North Shore.
Results from last drilling Campaign
The spring 2012 Drilling Campaign on Isoukustouc was halted
after numerous equipment breakdowns and the consequent cost
overruns incurred. The financial situation of the contracted
driller who was forced by unrelated events to seek protection from
some of its creditors made it difficult to plan for a restarting
date. Market conditions and the difficulty in raising additional
capital by the Company added to this dynamic.
The Company is presently in possession of all the drill cores of
the 2011-2012 exploration drilling campaign. So far, 699 samples
have been prepared from the already completed 2,634 meters of
diamond drill cores. The cores have been split, crushed and put in
bags under the supervision of geologists from Consul-Teck of Val
d'Or, Quebec. As such, Consul-Teck has confirmed chain of custody
for the period between the drilling and the shipping of samples.
The prepared samples are now in route to AGAT Laboratories in
Sudbury, Ontario.
An already reported preliminary description of the core
indicates several shallow depth intersections of sulphide
mineralization occurring in metagabbros and metasediments. The
sulphide zones occur over 20 to 50 meter sections (65 to 165 feet).
The mineralization consists of semi-massive, pod-like, disseminated
or thin foliated zones of
pyrhottite-pyrite?chalcopyrite?pentlandite as shown in the picture
below.
Copper-Nickel mineralization in metagabbros, hole MAT-11-04
TO VIEW IMAGE COPY AND PASTE URL TO NEW BROWSER WINDOW
http://thenewswire.ca/client_files/2013-03-13-0.pdf
New Surface Sample Results
Nine surface samples taken in the vicinity of the B40 section of
the property returned results ranging from 0.261% to 0.37% Copper
and 1.625% to 2.09% Nickel (see Table 1). These results are derived
from select surface grab samples and may not be representative of
the overall property section.
Table 1
------------------------------
|Sample No.|Cu% |Ni% |Fe% |
|----------------------------|
|2285 |0.370|1.830|20.00|
|----------------------------|
|2286 |0.316|1.710|19.15|
|----------------------------|
|2287 |0.351|1.820|20.20|
|----------------------------|
|2288 |0.352|2.090|22.00|
|----------------------------|
|2290 |0.357|1.850|20.10|
|----------------------------|
|2291 |0.261|1.800|19.60|
|----------------------------|
|2292 |0.273|1.750|19.45|
|----------------------------|
|2293 |0.306|1.625|18.95|
|----------------------------|
|2294 |0.362|1.830|20.70|
------------------------------
Claim Management
In 2012, the company completed a visit of surface showings and
outcrops visible on the property and subsequently dropped or is
planning not to renew 144 claims deemed of no interest. The Company
also staked 27 new claims following the analysis of the 2345
line-km geophysical survey conducted in 2011, and based on the
Company's understanding of the potential correlation between
certain existing geophysical signatures and the presence of
mineralized systems in the area. The overall number of claims on
Isoukustouc should continue to be reduced as a better understanding
of geology and potential for mineralization is defined. The
reduction of more than 35% of the claimed area represents a
decrease of approximately $180,000 in exploration obligations every
two years.
ON BEHALF OF THE BOARD OF DIRECTORS
Francois (Frank) Dumas
Frank Dumas, President & CEO
Herb Duerr, P.Geo is a qualified person under NI 43-101. Mr.
Duerr has reviewed and approved the technical content of this
release.
About St-Georges
St-Georges is a Platinum, Palladium, Nickel, Copper and Cobalt
explorer with projects in the Province of Quebec, Canada.
Headquartered in Montreal, the Company's stock is listed on the
CNSX under the symbol SX, on the OTCQX under the Symbol SXOOF and
on the Berlin Stock Exchange under the symbol 85G. It owns the
Villebon property in Abitibi and the Julie and Isoukustouc
properties on Quebec's North Shore near the deep-seaport town of
Baie-Comeau. For additional information, please visit our website
at www.stgeorgesplatinum.com.
Forward-looking Statement:
This document contains certain forward-looking statements which
involve known and unknown risks, delays, and uncertainties not
under the corporation's control which may cause actual results,
performance or achievements of the corporation to be materially
different from the results, performance or expectation implied by
these forward-looking statements.
The Canadian National Stock Exchange (CNSX) has not reviewed and
does not accept responsibility for the adequacy or the accuracy of
the contents of this release.
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