Wednesday, December 13, 2017

East Asia continues drilling at Sangihe

2017-12-13 14:02 ET - News Release

Mr. Terry Filbert reports
EAST ASIA PROVIDES UPDATE ON DRILLING PROGRESS FOR INDONESIAN GOLD PROPERTY
East Asia Minerals Corp. has released an update on current exploration activities relating to the continuing Indonesian feasibility study (IFS), AMDAL environmental report status, geotechnical and metallurgical work being conducted at its Sangihe gold property in Indonesia.

The company's focus is on completing the Indonesian feasibility study (IFS) and AMDAL environmental reports as once they are submitted and accepted by the Indonesian Mining Department (MEMR), construction of the mining facilities and infrastructure can begin at the Sangihe project. The company anticipates making a decision for gold processing and production to begin by mid 2018. The Indonesian feasibility study is not a feasibility study as defined by Canadian Institute of Mining as required by National Instrument 43-101 but is required under Indonesian law in order to obtain a licence to construct a production facility. The company cautions readers that the any production decision made by the company will not be based on an NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be increased uncertainty and various technological and economic risks.

The IFS, which is being conducted by Resindo Resources and Energy, an Indonesian consulting firm, is well under way and comprised of several elements. Metallurgical drilling of three twin holes has been completed during the month of October. These holes identify the most suitable heap-leaching locations. Samples obtained are currently undergoing metallurgic bottle-roll testwork at Geoservices Laboratory. Cyanide-soluble assay results received for the metallurgy samples submitted showed gold recoveries of 85 per cent and silver recoveries of 96 per cent.

Drilling of six geotechnical holes has commenced with hole number three in progress. This drilling is a required component for Indonesian feasibility study (IFS) in order to provide the most up to date and accurate core samples for pit-wall design. Hydro-geological surveying is complete and is designed to help locate and identify the water table level in the pit design and best water sources needed for upcoming drilling, heap-leaching and ultimately gold production.

The company is very pleased with the drilling progress considering the weather conditions have been less than favourable. The monsoon season started earlier than normal this year, making the drilling process difficult which could ultimately delay the final AMDAL and IFS reports by a few weeks. Overall site layout including the location of heap-leach pads, processing plant and waste-dump areas has been completed. The overall site layout was designed to be very concise and therefore has a total footprint area of 42 hectares which is 0.1 per cent of the 42,000 hectares Sangihe gold property total area.

Frank Rocca, BAppSc (geology), MAusIMM, chief geologist of East Asia Minerals, is the qualified person as defined under NI 43-101 who has reviewed and approves the content of this release.
Sangihe project

The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated ounces and 105,000 inferred ounces of gold. The company's 70-per-cent interest in the Sangihe mineral tenement contract of work is held through PT Tambang Mas Sangihe. The remaining 30-per-cent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
We seek Safe Harbor.

Thursday, December 7, 2017

EXCLUSIVE TECHNOLOGY LICENSING AGREEMENT

St-Georges, Iconic sign technology licensing agreement

2017-12-07 14:18 ET - News Release
Also News Release (C-ICM) Iconic Minerals Ltd (2)
Mr. Frank Dumas reports
EXCLUSIVE TECHNOLOGY LICENSING AGREEMENT WITH ICONIC MINERALS FOR NEVADA OPERATIONS
St-Georges Platinum and Base Metals Ltd. and Iconic Minerals Ltd. have entered into a definitive exclusive technology licensing agreement for all sites to be operated by Iconic and/or its affiliates in the state of Nevada.
In return for a perpetual licence for the technologies and its future improvements, Iconic will pay to St-Georges:

  • Invest by way of private placement CAD $100,000 in St-Georges equity within 6 months.
  • Issue in total 5 million common shares of Iconic to be released in stages, based on benchmarks reached. The performance schedule outlining the stages of each development phase where shares will be issued according to the schedule below:
    • 2,000,000 shares at Stage 1 Benchmark completion: which is defined by the delivery of a viable lithium recovery positive independent laboratory currently commissioned to by St-Georges;
    • 1,500,000 shares at Stage 2 Benchmark completion: which is defined by independent report describing results of initial pilot mining operations and the processing of a minimum of one (1) metric ton in a simulated industrial environment; and
    • 1,500,000 shares at Stage 3 Benchmark completion: which is defined by the reception of a Preliminary Economical Assessment Report (PEA) or at commercialization decision or the third (3 rd ) year anniversary mark of this agreement assuming other issuance have all been done;
  • The shares St-Georges earn in each stage will be escrowed for the duration of 36 months.
  • A perpetual Net Revenue Interest Royalty (NRI) of 5% on all minerals produced on sites licensed with SX technologies;
SX Lithium recovery for Clays and Hard Rock Technology
SX technology process lithium bearing material in three (3) phases:
  1. It concentrates the lithium bearing material.
  2. It converts the lithium to a salt and purifies it through lithium selection. The process involves gasification to activate the lithium and selectively removing the lithium salt from the other elements with the usage of a proprietary technique, which will be kept confidential at this stage.
  3. It involves purification and direct production of lithium carbonate or lithium hydroxide and can be linked to a lithium metal production.
"(...) the on-going efforts to develop an in-situ metals recovery technology for geothermal clay related sources in Iceland have allowed the company to explore other potential applications like the one brought to us by Iconic on their Bonnie Claire project in Nevada. We are excited to test other potential applications that includes but is not limited to our other hard rock lithium projects in Quebec", commented Enrico Di Cesare, St-Georges Director and Research & Development Vice-president. "(...) the management relies on its collective experience at developing technology initiatives and is trying to balance transparency disclosure of its progress with the need to protect the intellectual property being generated. We believe that the only way to disclose our results is to put them in the context of their economic viability. This will call for an higher level of independent review and explain or restrain in divulging recuperation rates that means nothing on their own. The 98%+ lithium recovery rate experienced on Bonnie Claire means nothing on its own if there is no scalable economic method attached to it" commented Frank Dumas, St-Georges' CEO & President.

About St-Georges Platinum and Base Metals Ltd.
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry.

The company controls, directly or indirectly, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie nickel project, for industrial minerals on Quebec's North Shore, and for lithium and rare metals in Northern Quebec and in the Abitibi area.
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