Graphite Partnership Established with Amseco Exploration
MONTREAL, QUEBEC–(Marketwire – Feb. 29, 2012) – 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 Tétépisca properties.
St-Georges recently announced that it increase the size of its Tétépisca 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 Tétépisca Properties
Tétépisca 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 Géret 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 Tétépisca West Property consist of 2 claim blocks directly adjacent to the south-west (18 claims) and west (5 claims) of St-Georges current Tétépisca 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 Tétépisca property, neighbored to the North by Cliff Resources and Focus Metals recently acquired Tétépisca 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.
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.
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.
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.