St. James Gold Corp. Announces Initial Drilling Results from the 2021 Diamond Drill Program at the Florin Project, Yukon Territory, Canada
St. James Gold Corp. Announces Initial Drilling Results from the 2021 Diamond Drill
Program at the Florin Project, Yukon Territory, Canada
Vancouver, British Columbia, March 23, 2022 (Globe Newswire) - St. James Gold Corp.
(TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) , St. James Gold Corp. (the “ Company ”) is
pleased to announce encouraging assay results from five of 16 initial diamond drill holes from the
2021 drilling campaign at the Florin Gold Project located in Mayo Mining District, Yukon Territory,
Canada (Fig 1.). The step-out drilling program was designed to increase mineral resources within the
currently defined resource pit shell where 2.47M oz gold inferred resource 1 exists.
Figure 1: Location of Florin Gold Project area relative to other multi-million-ounce gold projects.
Highlights
● These latest drill results show broad intersections of gold including intermittent higher grade
intervals that will inform future drilling programs.
● Step-out drilling was completed within untested are as within proximity to the inferred
mineral resource and within areas previously consid ered as waste strip ratio within the
current inferred resource pit.
1 The Florin Gold Project contains an inferred resou rce of 2,474,000 oz gold contained in 170,993,000 t onnes grading
0.45 g/t with a cut-off of 0.30g/t, at a $1,650 gold price. For additional information, see the techni cal report prepared in
accordance with National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Ma yo and Dawson
Mining Districts, Yukon Territory, by Ronald G Simp son, P.Geo. of GeoSim Services Inc., dated April 6, 2021, a copy of
with is available under the Company’s SEDAR profile.
● Holes 63, 65 and 66 were drilled to the northeast a t an azimuth of 028°. The assay results
from these holes indicate the resource remains open in all directions and at depth.
● Exploration on the property including drilling, sur face mapping, rock and soil sampling of
gold anomalies has tested less than 1% of the property to date.
● The Florin Gold Project is a reduced intrusion rela ted gold deposit located in the prolific
Victoria Gold – Keno Hill – Scheelite Dome gold dis trict in Yukon. Gold mineralization is
hosted in a granite intrusive that extends for at l east 5km of strike along the Jethro Fault of
which only 1 km has been drill tested to date.
● Further assay results expected over the next several weeks.
Results
Notes:
1. True widths of intersections are unknown at this time.
2. Mineralized intervals are calculated using the weighted Au average based
on length of sample, a lower cut-off of 0.3 g/t Au , including low grade zones
no greater than 20 metres in length.
Figure 2: Location of Diamond Drill Holes mentioned in this News Release
George Drazenovic, CEO of St. James Gold comments , “We are pleased that this first batch of
assay results from the late 2021 diamond drill camp aign show encouraging gold values down the
length of each hole including some encouraging inte rcepts in areas previously modelled as waste
rock areas. These mineralized intercepts are expected to lower the current conceptual strip ratio at the
Florin Gold Project. We expect to report further re sults from the campaign over the course of the
next few weeks. These first results from the 2021 exploration season will give us valuable
information to guide future exploration programs and resource expansion drilling.”
About the Sampling Drill samples were collected from split [NQ2 drill core at a nominal 1 metre
interval breaking at major geological boundaries such that no sample interval was less than 0.5
metres or greater than 1.5 metres] . The samples were submitted to ALS Canada Ltd, Whi tehorse
for drying, crushing and pulverization in preparation for analysis in Vancouver of gold by Fire Assay
and a suite of trace elements by ICP-AES method. [Gold assay results measuring over 10 g/t are
re-analyzed by Fire Assay using a gravimetric finish] .
ALS Canada Ltd. is accredited by the [Standards Council of Canada, the Canadian Associat ion
for Laboratory Accreditation and QMI-SAI Global and is an ISO 9001 and 17025 certified
analytical laboratory] .
Samples submitted were half core sawed.Average weight 3-4 kg per sample.
Samples were fine crushed 90% < 2mm. Then a 500 gm split was pulverized to 95% <106 um. A 50
gm split was analysed by Au Fire Assay with an AA f inish. A 33 element four acid ICP-AES
analyses was also completed on the sample.
Quality Assurance Quality control consisted of inse rting Blanks, Standard purchased from CDN
Laboratories Ltd for gold ores (CDN-GS-1P5C, CDN-GS 5x, CDN-10G), and Blanks of Garden
rock, either quartzite or dolomite . Coarse reject duplicates were requested for duplicate sample
checks. Approximately 12% of samples were submitted as Standards, Blanks or Duplicates,
Dr. Stewart Jackson, P Geo, senior technical adviso r geologist, and a Qualified Person within the
meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), has
reviewed and approved the technical and scientific information presented herein as accurate and has
approved this news release.
About St. James Gold Corp.
St. James Gold Corp. is a publicly traded company l isted on the TSX Venture Exchange under the
trading symbol “LORD”, in the U.S. Market listed on OTCQB under "LRDJF" and on the Frankfurt
Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the
discovery and development of economic mineral depos its by acquiring prospective exploration
projects with well-delineated geological theories; integrating all available geological, geochemical,
and geophysical datasets; and financing efficient e xploration programs. The Company currently
holds: (i) 100-per-cent stake in 29 claims, coverin g 1,791 acres, in the Gander gold district in north -
central Newfoundland located adjacent to New Found Gold Corp.'s Queensway North project; and
(ii) a 100-per-cent stake in 9 claims and an option to acquire a further 100-per-cent interest in 19
claims, covering a total 1,730 acres, in central Ne wfoundland located adjacent to Marathon Gold's
Valentine Lake property; and (iii) an option to acq uire up to an 85-per-cent interest in the Florin
Gold Project, covering nearly 22,000 contiguous acr es in the historical Tintina gold belt in Yukon
Territory, Canada.
For more corporate information please visit: http://stjamesgold.com/
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: [email protected]
Forward Looking Statements
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can be no assurance that forward-looking statements will prove to be accurate, as actual results and
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Forward-looking statements involve known and unknow n risks, uncertainties, and other factors,
many of which are beyond the Company’s control, whi ch could cause actual results, performance,
achievements, and events to differ materially from those that are disclosed in or implied by such
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and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual
Information Form dated July 26, 2021 (the “ AIF ”) filed under the Company’s profile on SEDAR at
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AIF on SEDAR are not exhaustive and other factors c ould materially affect its results. New factors
emerge from time to time, and it is not possible for the Company to consider all of them or assess the
impact of each such factor or the extent to which a ny factor, or combination of factors, may cause
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