March 13, 2012 (Source: Marketwire) — St-Georges Platinum and Base Metals Ltd. (CNSX:SX)(OTCQX:SXOOF)(BSE:85G) is pleased to announce the signing of a Memorandum of Understanding with Focus Metals Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) with regard to the graphite resource viability of two of St-Georges’ Quebec properties.
Under the terms of the three-month agreement, Focus Metals will research and evaluate the potential of St-Georges’ Tétépisca graphite property and assist St-Georges geological staff in evaluating the potential of multiple graphite occurrences found on the southeast extension of the company’s Julie nickel-copper project.
Tétépisca West, Canadian Goose and Wooden Lake 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.
Both properties are located on the Quebec North Shore. The non-binding arrangement gives Focus Metals a 120-day right of first refusal for the establishment of a joint-venture relationship with St-George for the future development of those properties.
Consequently, St-Georges geologists will acquire access to Focus Metals’ geological team and their expertise gleaned from early-stage development of Focus Metals’ Lac Knife, Quebec graphite deposit which, at 16%, remains the highest grade graphite deposit in the world.
“We are very pleased to have been invited to assist St-Georges in their initial geological determinations at Tétépisca and Southeast Julie,” said Focus President and CEO Gary Economo. “Our accumulation of both geological and business experience at Lac Knife provides a template for evaluating pre-development.”
St-Georges President and CEO Frank Dumas said: “Focus Metals is recognized in the mining development community as the ‘go to’ source for graphite. We’re pleased to have teamed with Focus not only for their graphite-related geological experience, but their early-stage business development experience.”
“The market is primed for new entrants to the graphite market, especially in Quebec. We expect we’ll be in a better position to determine our course once the evaluation is completed,” Mr. Dumas said.
In the past couple of 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 graphene, and 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, Solarthermal collectors, Vanadium batteries and much more
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, the OTCQX under the Symbol SXOOF and the Berlin Stock Exchange under the symbol 85G. It owns the Villebon Copper-Nickel and PGEs property in Abitibi and a 100% interest in the Julie and Isoukustouc Nickel-Copper-PGEs projects on the Quebec North Shore. The company also owns a 100% interest in ten North Shore properties that constitute the Manicouagan constellation which are explored for Nickel, Copper, Platinum, Palladium and Graphite and 50% equity interest in 6 properties explored for graphite with Amseco Exploration, all the latter being on Quebec’s North Shore near the deep-seaport town of Baie-Comeau.
For additional information, please visit our website at: www.stgeorgesplatinum.com
About Focus Metals
Focus Metals Inc. is an emerging mid-tier junior mining company, a technology solutions supplier and a business innovator. It is the owner of the highest-grade (16%) technology graphite resource in the world. The company’s goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Metals is invested in the development of graphene applications and patents through Grafoid Inc.
For additional information, please visit our website at: www.focusmetals.ca
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.