Iceland Gold Exploration Plans & European Investor Relations
Iceland Gold Exploration Plans & European Investor Relations
-FOR IMMEDIATE RELEASE-
Grindavik, March 2, 2019 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE:
85G1) would like to provide an update on its gold exploration initiatives in Iceland and announce
that it retained the services of a UK based communication and investors relations firm, Cassiopeia
Services Ltd.
Iceland Gold Exploration
The company, via its Iceland now wholly owned subsidiary, St-Georges Iceland ltd that owns
100% of Iceland Resources EHF, has presented portions of its exploration plans to the relevant
Icelandic authorities. The following projects are being identified as priorities:
Thormodsdalur (Thor) Gold Mine
The Thormodsdalur Gold Mine is located about 20km east of the city center of Reykjavík and
south-east of the lake Hafravatn. The project was discovered in 1908. The property produced
mineral concentrate from 1911 to 1925 during which over 300 meters of tunnels were dug below
surface excavations.
Studies between 2005 and 2013 identified the project mineralization as a low sulphidation system
containing banded chalcedony and ginguro. Petrographic analysis of the vein material identified
gold occurring in its free form and as part of an assemblage with pyrite and chalcopyrite.
Petrographic and XRD studies show an evolution of the vein system from the zeolite assemblage
to quartz adularia and lastly to minor calcite. 32 holes have been drilled with in the licence area,
for a total of 2,439 meters. Gold values vary from less than 0.5 g/t to a maximum of 415 g/t. (These
values were obtained from selected random intervals and cannot be construed to be representative
of any particular thickness or overall length.) The best intercepts from the diamond drilling are
33.5m of 8.0 g/t Au (true thickness) and 5.2m of 35.4 g/t Au (true thickness).
Note: All information pertaining to mineral resources, grades or operational results herewith presented are
historical in nature and while relevant, the information was obtained from sources that cannot be independently
verified and are hence currently non-compliant with National Instrument 43-101.
For the 2019 field season, subject to municipal licensing approval, the Company intend to drill up
to 3,000 meters. This will include the twin-drilling of certain historical drill holes and will add in-
fill holes in the identified gold trend which strikes some 700 meters at surface. The objective will
be to gather enough data to allow the establishment a maiden NI 43-101 resource estimate by year
end. The exploration team is expected to make four trenches, collect soil samples and perform an
important downhole geophysics campaign on most of the 27 holes that are currently accessible.
Until now, St-Georges only had access to a JORC technical report.
_____________________________________________________________________________
The Tröllaskagi (Troll) Gold Project
The Trollaskagi Gold Project covers an area of 1,018 km 2 in northern Iceland near the town of
Akureyri. Peaks in the region reach 1538m above sea level, and there are few significant accessible
paths throughout the majority of the prospective areas. Just below the Polar Circle, the project is
not accessible all year due to winter condition that are accompanied by significant snow
accumulations.
Tröllaskagi is located in an underexplored area mapped with a felsic central volcano. In 2006, the
previous holder of the mineral exploration right, Melmi, undertook a program of stream sediment
sampling in most of the major valleys using roads, paths and trekking trails for access. Rock
samples were also collected where alteration was encountered.
For the 2019 field season the company’s Icelandic exploration team intends to map the area on
foot and by drone . G rab samples should be collected from visible mineralized roc k. A first
selection of samples will be done manually and assayed by technicians with a multi-element ICP-
MS, and fire assayed to ascertain key major, trace and precious metal contents.
___________________________________________________________________________
The Vopnafjorður (Vopna) Gold Project
This 598.5 km2 area is located to the northeastern corner of Iceland and is accessible by highway.
The mountain range to the east of the licence has a peak of 1251m. The topography of the area
varies between low level and flat to steep and the occasional mountainous slopes. The core of the
licence area can be reached by paved and gravel roads.
Vein sampling carried out previously have highlighted a number of veins with gold enrichment.
The surface vein mineralization found at the Haugsá showing produced sa mple analyses with
grades up to 447ppb of Gold (0.447 g/t) with 90% of the samples returning Gold values above
10ppb (0.01 g/t).
The purpose of the upcoming field season is to produce detailed geological maps. A major
geological survey of the area will be conducted on foot, as well as a drone survey. Grab samples
of mineralized rock will be conducted on a large-scale grid.
______________________________________________________________________________
Appointment of a European Investors Relations Firm
Today, St-Georges has appointed the London-based Public and Investor Relations firm Cassiopeia
Services Ltd, as part of the Corporation’s plan to raise its profile and grow its investor base. St -
Georges will pay Cassiopeia a monthly retainer of £2,500 and 100,000 options to be issued and
priced at the same price than management issuance.
Cassiopeia Services is a leading UK-based boutique Investor & Public Relations agency, awarded
both ADVFN Best International Investor Relations Firm 2018 and Best Employer Small Medium
Enterprises 2017 by University of Westminster (London, UK). Founded by Stefania Barbaglio in
early 2015, Cassiopeia Services quickly established itself as one of the leading boutique PR and
IR firms, becoming a key reference point for HNWIs and private investors in the United Kingdom.
Cassiopeia is thriving in the booming blockchain and crypto world. With multiple clients working
on innovative projects powered by new technologies in different industries: from commodities to
financial markets, payments, social media, digital identity and cybersecurity, Cassiopeia offers
smart campaigns and highly specialized media, PR and IR consultancy. For more information visit
Cassiopeia's website: https://www.cassiopeia-ltd.com
Vilhjalmur Thor Vilhjalmsson, President of St-Georges commented: “(…) During this crucial
time, we are pleased to announce the engagement of international professionals who have the right
expertise and network to assist us in our journey to grow our company and deliver more value to
our shareholders”.
______________________________________________________________________________
Joel Scodnick, P.Geo, a qualified person under NI 43 -101 has reviewed and approved the
technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vilhjalmur Thor Vilhjalmsson”
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental
problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral
tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals
on Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi
region. Headquartered in Montreal, St -Georges' stock is listed on the CSE under the s ymbol SX,
on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol
85G1.
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.