Discovery of Thick Low-Grade Mineralization at Manicouagan Extends Known Mineralized Zone to a Length of 7 Kilometers

MONTREAL, QC / ACCESSWIRE / February 20, 2024 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is thrilled to announce the results of the 2023 drilling program at the company's Manicouagan Critical & Strategic Minerals Project, within the Nitassinan of Pessamit on the Québec North Shore. A total of five holes were completed as well as one hole extension that was deepened from the 2022 drilling program. All for a total of 1,421 meters.

Holes MN23-1 through MN23-3 tested the interpreted eastern astrobleme identified by geophysical responses. The wide spaced holes intersected two to three zones of disseminated nickel-cobalt-chrome mineralization with intermittent Platinum Group Elements values (see table 1).

Thick intercepts up to 87 meters grading 0.28% nickel, 0.11% chrome and 0.012% cobalt from surface in hole MN23-1.

Hole MN23-2 was drilled 360 meters to the southwest of MN23-01. Hole 2 intersected 91.3 meters from surface grading 0.24% nickel, 0.29% chrome, 0.011% cobalt and included a 5-meter section grading 0.46% nickel, 0,12% chrome, and 0.012% cobalt with 0.515 g/t combined platinum & palladium.

Hole MN23-03 intersected 56.4 meters grading 0.21% nickel, 0.21% chrome and 0.011% cobalt from surface.

Each hole contained 20 to 24% magnesium within the host rock suggesting an ultramafic origin.

Anomalous PGEs were found intermittently throughout each of the three holes.

Holes 4 and 5 targeted anomalies suggested from the downhole electromagnetic (EM) surveys conducted in early 2023.

MN23-04 did not intersect significant nickel but did encounter a 1-meter interval of anomalous copper at 0.14%, and more importantly, 1 meter grading 1.35 g/t PGE with no correlation to any base metals. This interval may suggest potential for disseminated PGE mineralization elsewhere in the system which has not previously been identified. The EM conductor was not evident within the formations encountered.

Hole MN23-05 intersected two relatively narrow, low-grade zones of nickel-chrome-cobalt at approximately the right elevation indicated as an EM conductor. However, two thick strong zones (57 and 43 meters) of iron were intersected between the Ni-Cr-Co zones identified above. These values were up to 34% Fe over 1 meter and averaged 17% Fe and 13% Fe percent respectively (see Table 1).

Due to the significant values in the entire PGE suite (platinum, palladium, iridium, osmium, rhodium and ruthenium), St Georges has pulled samples from historic drilling to reassay for the entire suite of PGEs. Several zones of high-grade mineralization containing Ni-Cu-Co-As were found to contain significant values in the rest of the PGE suite.