Graphite Partnership Established with Amseco Exploration
February 29 2012 - 2:43PM
Marketwired
St-Georges Platinum and Base Metals Ltd.
(CNSX:SX)(OTCQX:SXOOF)(BSE:85G) is pleased to announce that it
teams up with Amseco Exploration Ltd. in order to acquire and
explore more than 10,110 hectares in a district known to host
multiple graphite occurrences these properties were acquired by the
staking of crown lands and will result in no dilution to our
shareholders.
The companies are currently negotiating the terms of their
joint-venture. They are expecting to initiate work on the property
in early spring. Historical compilation, surface geophysics and
mapping will add further work on the acquired claims in addition to
the initial sampling conducted on the Tetepisca properties.
St-Georges recently announced that it increase the size of its
Tetepisca property after confirming the existence of surface grab
samples that yielded results in the range of 50.9% to 58.1% of
Carbon Graphite in the area.
The Tetepisca Properties
Tetepisca West, Canadian Goose and Wooden Lake properties.
These properties are all located in the general area of the
south west bank of the Manicouagan Reservoir, approximately 45 km
from the Manic V electric dam, 21 km south-west of the Lac Geret
Project of Cliff Resources and 215 km from the Quebec North Shore
deep see port town of Baie-Comeau. Access is done via the 389
national road (Baie-Comeau-Labrador) and logging roads.
The Tetepisca West Property consist of 2 claim blocks directly
adjacent to the south-west (18 claims) and west (5 claims) of
St-Georges current Tetepisca property and are also along the
multi-kilometric corridor of metasediments or sediments Identified
by the Ministry of Natural Resources of Quebec as the Proterozoic
Nault Formation. The Canadian Goose Property is located
approximately 5 km further west and is made of one block of 28
claims.
The Wooden Lake Property is further to the south east of the
Lake Tetepisca property, neighbored to the North by Cliff Resources
and Focus Metals recently acquired Tetepisca claims block. The
property consists of 61 claims.
The Southern Properties
Pike River, Lake 222 and the Polynesian Lake Graphite
properties
Located approximately 120 km North West of the deep sea port
city of Baie-Comeau on the Quebec North Shore and accessible by
logging roads these 3 properties are located in the vicinity of
St-Georges Platinum "Julie" Nickel-Copper-Cobalt project. Like
St-Georges' Julie property, on which multiple disseminated graphite
occurrences were reported historically, these properties are along
a south-west to north-east trend that was originally explored for
Nickel and Copper by Otokumpu Mines Inc. in the late 90's. A
helicopter-borne EM and MAG geophysical survey consisting of 2,600
km of flight path in the region was performed. The airborne program
located multiple conductors, some of which coinciding with magnetic
anomalies.
Pike River Property is located approximately 10 km south west of
St-Georges' Julie property and consist of one block of 11 claims.
15 km to the north east and directly bordering the southern limits
of St-Georges' Julie Property is the Lake 222 Property consisting
of one block of 19 claims. Further to the north east for another 12
km is located the Polynesian Lake Property made of one block of 37
claims.
Graphite occurs in two main rock types: 1) As accessory mineral
with garnet in an intensely foliated, non-magnetic grey paragneiss
and 2), in sequences of paragneiss interlayered with a cataclastic
gabbro. There are graphitic layers (30 cm-thick) and disseminated
streaks through the rock in concentrations of 5 to 10 percent.
The company cautions that it has not verified the quality and
accuracy of any of the historic sampling results reported in this
news release which predates the introduction of National Instrument
43-101 and cautions readers not to rely upon them. The historic
figures were generated from sources believed to be reliable;
however, they have not been confirmed. Although the sampling
results are relevant, they have not been verified. These properties
have had very limited amount of exploration work done to identify
the potential if any, for significant presence of graphite
occurrences. It is likely possible that the results reported are
isolated in nature and cannot be relied upon to evaluate these
properties at this very early stage of their exploration.
Graphite Market
In the past couples years, the graphite market has doubled to an
unforeseen 1-1.2 million tons and is expected to keep rising. 40%
of that figure is flake graphite for which new uses are found in
emerging technologies and applications, the most significant being
Lithium-ion batteries. The latter is expected to raise demand for
flake graphite to nearly 1.6 million tons in the next 10 years, as
the demand for electric vehicles and lithium battery technology
booms. Moreover, the demand of graphite for traditional uses is
rising as emerging countries enter an era of industrial
modernization. The automotive and steel industries account as the
largest demand in graphite, rising by 5% annually. Other
considerable applications of graphite include Nuclear Power,
Fuel-cells, Solar-thermal collectors, Vanadium batteries and much
more.
About St-Georges
St-Georges is a junior Platinum, Palladium, Rhodium, Copper,
Cobalt, Nickel and Graphite 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 a 70%-interest in the core portion of the Villebon property
in Abitibi and 100%-interest in the extensions of the property to
the north and southeast, a 100%-interest in ten North Shore
properties that constitute the Manicouagan constellation and a
100%-interest in 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.
Michel Boily,Ph.D,. P.Geo, St-Georges Vice-President Exploration
is a qualified person under NI 43-101. Mr. Boily has reviewed and
approved the technical content of this release.
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.
Contacts: Paradox Investor Relations Toll: Free 1-866-460-0408
514-341-1527 (FAX)infoparadox@qc.aira.com National Media Associates
727-443-0000 727-443-0003 (FAX)gduggan@nat-media.com Attn: George
Duggan
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