Manicouagan is a mining project located in the province of Quebec on the North Shore of the St-Lawrence River, approximately 350km northwest of the city of Baie-Comeau. ¹⁾

In December, SX announced that recent drilling had resulted in six holes and associated cores, three of which had been sampled and sent for assay. Based on inspection of these first three cores, Company geologists organized an airborne EM and magnetic survey of the entire claim block, arranged down-hole geophysics to be done in the freshly-drilled holes, and increased the size of the claims block on the Manicouagan Project by approximately 3,900 hectares (to a new total of 22,388 hectares).²⁾

In March, drilling of the Manicouagan resumed, targeting several high-priority targets on the property. Once such target was a potential impact crater of astrobleme with an “intense central magnetic feature” that was identified by the airborne magnetic survey. SX management have hypothesized that “the astrobleme may be a fragment of the Manicouagan meteor”.³⁾

A map of the Manicouagan project indicating the presence of suspected astrobleme⁴⁾

In November, SX management closed the first tranche of a private placement, with the aim of using the resulting funds to test historical core samples, obtain the results of the 2023 Spring Campaign, and finance a portion of the 2024 Spring Campaign. ⁵⁾ This was followed by the closing of a second tranche in December.⁶⁾