St-Georges Eco-Mining Corp. (CSE: SX) announced on October 13, 2026, that Aurania Resources Ltd. has completed eight diamond drill holes at the Thormódsdalur gold-silver project in Iceland, with assay results expected in November 2026. The company also confirmed that its failure-to-file cease trade order has been revoked, though shares remain halted on the Canadian Securities Exchange pending further regulatory steps. Investors are watching both the upcoming assay results and the timeline for trading reinstatement as two near-term catalysts for the stock.

Key Points

  • St-Georges Eco-Mining Corp. (CSE: SX) announced completion of its 2026 Iceland drilling program and a trading status update
  • Aurania Resources Ltd. completed eight diamond drill holes totalling 780.70 metres at the Thormódsdalur gold-silver project
  • Core samples sent to ALS Sweden and ALS Ireland; assay results expected in November 2026
  • Investors should watch for assay results and CSE confirmation of trading reinstatement approval

Eight Holes Drilled at Thormódsdalur with Near-Complete Core Recovery

Finland-based Arctic Drilling Company, Oy Ltd. carried out the program using HQ3 diamond drilling on behalf of Aurania Resources Ltd., which is advancing the project under an option agreement announced in April 2026. The release states that core recovery was at or close to 100% in most holes, compared with recoveries in the region of 50% or less recorded during earlier historical drilling. Improved recovery is considered important for retaining fine and fragmented vein material that may have been lost during prior programs, producing samples that are more representative of the mineralised system.

Epithermal Textures Observed, Gold and Silver Grades Pending Assay

Aurania reports observing quartz veins and hydrothermal breccias in drill core displaying textures consistent with an epithermal gold-silver system, including colloform banding. Much of the vein material has been fragmented by later fault movement, making the improved core recovery particularly relevant. The disclosure notes that most holes twinned historical holes. The company is careful to state that gold and silver grades remain subject to assay results, and that visual observations alone do not establish grades or economic viability. Results from ALS Ireland are expected in November 2026, subject to laboratory turnaround times.

Cease Trade Order Revoked but CSE Trading Halt Continues

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

Thormódsdalur Project Background and Exploration Objectives

The Thormódsdalur project is held by Iceland Resources ehf, a wholly owned subsidiary of St-Georges, and is located approximately 20 kilometres east of Reykjavík. Under the April 2026 option agreement, St-Georges, Iceland Resources, and Aurania are collaborating on a phased exploration program aimed at advancing the project toward an initial modern mineral resource definition. St-Georges also holds the Manicouagan and Julie nickel, copper, and platinum group element projects, as well as the Notre-Dame niobium project in Québec.