St-Georges Platinum Initiates the First Phase of Exploration Drilling for 2011 on Its Villebon Gold-Copper-Nickel-PGE Project
May 31 2011 - 11:08AM
Marketwired Canada
St-Georges Platinum and Base Metals Ltd. (CNSX:SX)(BERLIN:85G) is pleased to
announce the start of an exploration drilling campaign on the Villebon property
and newly expanded Villebon-Cooper Lake property.
The Corporation's plan is to complete up to 2,100 meters of drilling with the
objective of validating the historical results from past work on the South and
North Zones of Villebon and at Cooper Lake. In addition, some holes will be
drilled to verify extensions laterally and to depth from historical zones. The
2,100-meter drilling program will be divided into three sectors: 1,200 meters on
the Villebon South Zone, 400 meters on the Villebon North Zone and 500 meters on
Cooper Lake gold targets.
Earlier drilling in 1987 and 1988 on the Villebon South and North Zones was the
basis for a non-compliant historical resource estimated to be 421,840 tons
grading 0.52% copper, 0.72% nickel and 1.08 g/t platinum-palladium combined
(GM58778). This estimate is historical in nature and does not comply with NI
43-101reporting standards, and therefore should not be relied upon, but should
only be considered as an indication of the mineral potential and not necessarily
indicative of the mineralization on the project. A Qualified Person has not done
sufficient work to classify the historical estimate as current Mineral
Resources.
The geology of the Cooper Lake project area may be favourable to host gold
mineralization due to the presence of quartz veins within volcanic host
structure. Historic drilling results on this zone include: up to 2.38 g/t Au
over 3.06 meters in Vein #5, and rock chip samples grading up to 20.1 g/t Au
over 0.4 meters. On the Cooper East Zone, drill results include 16.6 g/t over
0.91 meters.
Airborne Geophysics on the North Shore Properties
An extensive airborne geophysical survey, consisting of 6,075 kilometers, was
conducted, with the help of GPR Geophysics, in early spring on the Corporation's
North Short properties. The Corporation recently received the results and
reports from this survey and plans to announce these results soon.
About St-Georges
St-Georges is a junior Platinum, Palladium, Rhodium, Copper, Cobalt and Nickel
explorer with projects in the Province of Quebec, Canada. Headquartered in
Montreal, the Corporation's stock is listed on the CNSX under the symbol SX and
on the Berlin Stock Exchange under the symbol 85G. It owns a 50% 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 (Yacoub-Cooper Lake
properties), a 100% interest in eight North Shore properties that constitute the
Manicouagan constellation and a 100% interest in the Isoukustouc group of
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.
Jean-Sebastien Lavallee, P.Geo, a qualified person under NI 43-101, 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.
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