(Section of hole 21-18 drill core. Image via St-Georges Eco-Mining Corp.)
A Canadian developer of new technologies for the mining sector reported that its team had discovered a zone of high-grade nickel and palladium mineralization with dimensions of 180 meters in length and at least 80 meters in depth based on drill intercepts.
This week,
St-Georges Eco-Mining Corp. (CSE:SX, Forum) released results related to the resampling and analysis of the cores related to the drilling effort predating the 2021 campaign of its 100% owned Manicouagan Project.
Referred to as the Bob Zone, the drill cores assays contain results up to
2.11 g/t of platinum, up to 7.88 g/t of palladium, up to 1.73 g/t rhodium, up to 2.63 g/t ruthenium, up to 2.2% copper and up to 9.49% nickel. SX geologists feel that the availability of the assays has been significantly confirmed by hole 21-18 partial results that were released back in March. The mineralization is open-ended to depth and along strike.
(Stockhouse Spot Palladium chart – April 2018 – April 2022. Click to enlarge.)
This comes at a hot time for the rare, silvery-white metal, which has hovered between $500 to $1,000 (USD) per ounce for most the past decade, but rose to nearly $3,000 per oz, in 2020 and 2021, surpassing the price of gold.
The London Platinum and Palladium Market, the world’s largest, said a few days ago that it would block Russian refineries from selling either metal in the London market, due to the situation in Ukraine.