St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) has announced the completion of Aurania Resources Ltd.'s 2026 diamond drilling program at the Thormódsdalur gold-silver project in Iceland, a property held through St-Georges' wholly owned subsidiary Iceland Resources ehf. Eight drill holes totalling 780.70 metres were completed, with assay results expected in November 2026. The company also confirmed that cease-trade restrictions have been revoked, though trading on the Canadian Securities Exchange remains halted pending a separate reinstatement process.

Key Points

  • St-Georges Eco-Mining Corp. (CSE: SX) operates the Thormódsdalur project through subsidiary Iceland Resources ehf
  • Aurania Resources completed eight diamond drill holes totalling 780.70 metres; assay results are expected in November 2026
  • Core recovery reached at or close to 100% in most holes, a marked improvement over historical recoveries of 50% or less
  • Investors should watch for assay results and CSE reinstatement of trading, both of which remain subject to external review and approval

Eight-Hole Drilling Program Achieves Near-Total Core Recovery at Thormódsdalur

Arctic Drilling Company, Oy Ltd., a Finland-based contractor, carried out the program using HQ3 diamond drilling. Aurania reports core recovery at or close to 100% in most holes, compared with recoveries of approximately 50% or less recorded during earlier historical campaigns. The improvement is considered significant because fragmented vein material — potentially carrying gold and silver mineralisation — may have been lost in prior drilling. Core samples have been sent to ALS Sweden for preparation and to ALS Ireland for analysis, with assay results anticipated in November 2026, subject to laboratory turnaround times.

Epithermal Gold-Silver Textures Observed in Drill Core

Aurania reports that drill core from the program contains quartz veins and hydrothermal breccias displaying textures consistent with an epithermal gold-silver system, including colloform banding. Much of the vein material has been fragmented by later fault movement, reinforcing the importance of the improved core recovery. The release stresses that visual observations do not establish grades or economic viability; gold and silver grades remain subject to assay results. The Thormódsdalur project is located approximately 20 kilometres east of Reykjavík and is being advanced under an option agreement announced by St-Georges in April 2026.

Cease-Trade Orders Revoked but CSE Trading Reinstatement Remains Pending

St-Georges confirmed that its failure-to-file cease-trade order is no longer in effect. The British Columbia Securities Commission also revoked the management cease-trade orders applicable to Herb Duerr and Rick Barnett on October 8, 2026. However, the company's shares remain halted on the CSE, as revocation of cease-trade orders and reinstatement of exchange trading are separate regulatory steps. Management states it is responding to CSE information requests and addressing applicable exchange requirements; resumption of trading remains subject to the CSE's review and approval, and no specific timeline has been confirmed.