Drilling underway on the Villebon Project
MONTREAL, Aug. 11, 2011 /PRNewswire/ – St-Georges Platinum and Base Metals Ltd. (CNSX: SX) (BSE: 85G) is pleased to announce that its planned Phase II drilling campaign on
the Villebon Property is currently underway.
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 first hole of the summer 2011 Phase
II campaign is already completed and log results should be available
within a few days. The company plans to report the progress of the
campaign on a weekly basis. The campaign is managed by Noram Mining &
Engineering of Belleview, Washington and Consul-Teck of Val d’Or,
Quebec. The drilling is conducted by Val D’Or Drilling of Val d’Or,
Quebec. St-Georges has made advance payments covering most of the
costs expected for this phase of the campaign.
The main objective of that Phase II campaign is to test the
mineralization present at the South Zone and explore its extension to
the northwest toward the North Zone. The collar location of the three
first holes is shown in Figure 1 (Image with caption: “Figure 1 (CNW Group/St-Georges Platinum and Base
Metals Ltd.)”. Image available at: http://photos.newswire.ca/images/download/20110811_C3195_PHOTO_EN_2085.jpg).
The first phase of the current campaign was completed in December 2010.
The drill core intersected the mineralized peridotite at relatively
shallow depth (35-110 m). The peridotite is highly altered, tectonized,
brecciated and sporadically mineralized. Similar lithologies
intersected by the historical drill holes were encountered, i.e.
intermediate to felsic volcanics and diorite intrusive rocks. The DDH
campaign results are summarized in the Table below (Table 1). The
weighted mean assay results were obtained on continuous core
intersections. The Cu and Ni assay values are slightly lower than the
historical concentrations obtained by past drilling of the North and
South zones (i.e. 0.52 wt. % Ni and 0.45 wt. % Cu). However, the
mineralized intersections are longer varying from 3 to 41 m. Note that
the 2010 collar locations were positioned to the south of the old DDH
drill sites (Figure 1). It is very likely that part of the intersected
mineralization belongs to a new zone. The results shown in the table
below represent partial results. Additional sections are currently
being split and samples sent to the labs for further analysis.
___________________________________________________________________ |Hole |From |To (m)|Intersection| Pt |Pd (g/t)| Cu | Ni | | | (m) | | (m) |(g/t)| |(wt.%)|(wt.%)| |___________|______|______|____________|_____|________|______|______| | | | | | | | | | |___________|______|______|____________|_____|________|______|______| |FV-10-01 |35.50 |54.10 | 18.60 |0.092| 0.219 | 0.21 | 0.24 | |___________|______|______|____________|_____|________|______|______| |FV-10-02 |81.40 |98.45 | 17.05 |0.049| 0.119 | 0.15 | 0.19 | |___________|______|______|____________|_____|________|______|______| |FV-10-03 |119.80|122.85| 3.05 |0.050| 0.107 | 0.17 | 0.24 | |___________|______|______|____________|_____|________|______|______| |FV-10-04 |128.20|131.80| 3.60 |0.069| 0.140 | 0.18 | 0.28 | |___________|______|______|____________|_____|________|______|______| |FV-10-05 |164.30|164.60| 0.30 |0.048| 0.146 | 0.15 | 0.48 | |___________|______|______|____________|_____|________|______|______| |FV-10-06 |73.10 |94.25 | 21.15 |0.152| 0.290 | 0.31 | 0.39 | |___________|______|______|____________|_____|________|______|______| |(Including)|85.75 |92.80 | 7.05 |0.209| 0.379 | 0.41 | 0.49 | |___________|______|______|____________|_____|________|______|______| |FV-10-07 |79.50 |82.10 | 2.60 |0.056| 0.121 | 0.15 | 0.22 | |___________|______|______|____________|_____|________|______|______| |FV-10-08 |91.10 |98.25 | 7.15 |0.039| 0.085 | 0.15 | 0.19 | |___________|______|______|____________|_____|________|______|______| |FV-10-09 |132.45|135.70| 3.25 |0.011| 0.033 | 0.02 | 0.11 | |___________|______|______|____________|_____|________|______|______| |FV-10-10 |69.00 |110.00| 41.00 |0.099| 0.229 | 0.24 | 0.30 | |___________|______|______|____________|_____|________|______|______| |(Including)|81.10 |83.10 | 2.00 |0.194| 0.431 | 0.61 | 0.74 | |___________|______|______|____________|_____|________|______|______| |FV-10-11 |50.60 |74.60 | 24.00 |0.152| 0.305 | 0.36 | 0.25 | |___________|______|______|____________|_____|________|______|______| |(Including)|65.80 |68.80 | 3.00 |0.248| 0.514 | 0.63 | 0.68 | |___________|______|______|____________|_____|________|______|______| |FV-10-11 |83.20 |93.60 | 10.40 |0.057| 0.239 | 0.23 | 0.21 | |___________|______|______|____________|_____|________|______|______| |FV-10-12 |138.00|143.20| 5.20 |0.040| 0.105 | 0.15 | 0.18 | |___________|______|______|____________|_____|________|______|______| |FV-10-13 |198.20|205.65| 7.45 |0.037| 0.090 | 0.14 | 0.15 | |___________|______|______|____________|_____|________|______|______|
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
The Cooper Lake showing is located 1.8 km east of the Villebon North
Zone. The Cooper Lake area is known for its potential for hosting gold
mineralization due to the presence of numerous quartz veins within
volcanic host rocks. 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.
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 Company’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, 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.
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.
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
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.
SOURCE St-Georges Platinum and Base Metals Ltd.