St-Ge­orges re­ceives work rec­om­men­da­tions for Thor

Stockwatch Daily - - MINES & METALS - Mr. Vil­h­jal­mur Vil­h­jalms­son re­ports

ST-GE­ORGES PLAT­INUM and Base Met­als Ltd. has pro­vided an up­date to its share­hold­ers and stake­hold­ers on the progress of its ex­plo­ration ini­tia­tive made in Ice­land.

Thor re­port

The com­pany re­cently re­ceived a tech­ni­cal re­port that was com­mis­sioned by Tim Eatwell, MGeol, FGS, SEG, AUSIMM, and is cur­rently re­view­ing its find­ings and rec­om­men­da­tions. The cur­rent re­port is a first step to­ward ini­ti­at­ing a Na­tional In­stru­ment 43-101 tech­ni­cal re­port af­ter all prepa­ra­tion work and project vis­its are com­pleted at a later date.

An em­pha­sis was placed on iden­ti­fy­ing fault sys­tems and sam­pling ar­eas of no­table al­ter­ation or min­er­al­iza­tion.

High­lights of the re­port

The work was un­der­taken as first-pass data-gath­er­ing ex­er­cise in or­der to cat­e­go­rize the Thor project as a low-sul­phi­da­tion al­kali ep­ither­mal gold sys­tem. New sam­pling and re­con­nais­sance map­ping sup­port the Thor pre­vi­ous known his­tor­i­cal re­sults with sam­ples as­say­ing from less than 0.5 gram per tonne to 13.55 grams per tonne gold.

Geo­chem­i­cal anal­y­sis of re­sults from the Thor project in­di­cate that gold is the best di­ag­nos­tic tool with bis­muth, ar­senic and sil­ver as po­ten­tial pathfinder el­e­ments. Al­ter­ation of the tar­get type can also be iden­ti­fied in the rel­a­tive en­rich­ment of potas­sium and de­ple­tion of sodium in the host rock. This al­ter­ation re­sulted in the for­ma­tion of adu­laria and il­lite.

A sys­tem­atic geo­chem­i­cal sam­pling cam­paign may be able to use the al­ter­ation and pathfinder el­e­ments to vec­tor to­ward a Thor-type gold­bear­ing sys­tem. Th­ese data also sup­port the hy­poth­e­sis that the min­er­al­iza­tion ob­served at Thor is geo­chem­i­cally anal­o­gous with other highly pro­duc­tive low-sul­phi­da­tion al­kali ep­ither­mal gold sys­tems around the world.

Re­port rec­om­men­da­tions

Fur­ther li­cence-scale sam­pling cam­paigns should be per­formed sys­tem­at­i­cally along grid lines. High-res­o­lu­tion satel­lite im­agery should be used for fur­ther in­ves­ti­ga­tion of ar­eas of in­tense hy­dro­ther­mal ac­tiv­ity.

Sam­ples should be an­a­lyzed to a lower level of de­tec­tion con­sid­er­ing the low res­o­lu­tion of gold grades seen only me­tres from the known min­er­al­iza­tion at Thor.

Be­cause of the small foot­print of the Thor de­posit, it is rec­om­mended that a lower thresh­old for gold val­ues should be used in fu­ture sam­pling. Mul­tiele­ment suites should be used to as­cer­tain potas­sic al­ter­ation and sodium de­ple­tion en­velopes in fu­ture ex­plo­ration cam­paigns.

New sam­pling re­sults

Twenty-two select sam­ples were col­lected from trenches pre­vi­ously sam­pled on the Thor project. Th­ese sam­ples were col­lected by pro­fes­sion­als to both con­firm the ex­is­tence of gold grades and the ge­o­logic set­ting.

Gold grades ranged from less than 0.005 part per mil­lion to 13.55 parts per mil­lion and sil­ver grades ranged from less than 0.5 part per mil­lion to 6.8 parts per mil­lion. The av­er­age of the 22 sam­ples was 2.26 parts per mil­lion gold.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Mark An­thony Billings, En­rico Di Ce­sare, Her­bert Duerr, Fran­cois Du­mas, Gary John­son, Wei-Tek Tsai, Vil­h­jal­mur Thor Vil­h­jalms­son

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