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The first of 22 planned drill holes ranging from 125 to 500 meters in depth is underway on the
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Picture 1. Drill Rig on
Julie Nickel Project Drilling
Drilling Progress
Drilling on Julie is currently underway. A first hole totalling 504 meters was completed on Monday. The drill rig has been moved to the second planned hole and at the time of this report, 3 meters of casing and 57 meters of core is already completed. The second hole located approximately 210 meters North-East of the Julie Showing has an azimuth of325°, and a 55° down dip angle for a planned 500 meters length.
Three additional holes are expected to be drilled in this first phase that should be followed by downhole geophysics.
The total drilling campaign has been increased from 11,600 meters to 12,600 meters following observations on the ground. Surface exploration and sampling is also being conducted punctually in parallel with the drilling effort.
Additional Ground for
The Company is also pleased to announce that it has agreed to acquire 28 mineral claims from an arms-length vendor. Some of these claims were land-locked within the other exploration licenses held by St-Georges while the bulk of it was located to the south and south-west boundaries of the project.
The terms of the acquisition are the issuance of 100,000 common shares of St-Georges within 30 days of the approval of the transaction, the payment of CA$50,000 under the same terms. The agreement also calls for the signing of an NSR agreement within 60 days following the acquisition. The NSR covering these claims will be set at 1%, of which 0.5% can be bought back for CA$1,000,000 at any time at the Company’s discretion. The agreement also establishes a 10 km zone of influence in favor of the Company.
These new mineral claims represent an increase of approximately 1,512 hectares of the project footprint.
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Fig. 1 Map of the Julie project with new claims identified in yellow (Source Gestim)
New Independent Director and Upcoming AGM
St-Georges is pleased to welcome Ms.
The Company would like to remind its shareholders that its Annual Shareholders Meeting or AGM, will be held in
The technical information contained in this report in regard to the
ON BEHALF OF THE BOARD OF DIRECTORS
“Herb Duerr”
President & CEO
About
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
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Copyright (c) 2021 TheNewswire - All rights reserved., source