St. James Gold Corp Announces Second Batch of Drilling Results from the 2021 Diamond Drill Program at the Florin Project, Yukon Territory , Canada
St. James Gold Corp Announces Second Batch of Drilling Results from
the 2021 Diamond Drill Program at the Florin Project, Yukon Territory ,
Canada
April 12th , 2022 - St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE:
BVU3) , St. James Gold Corp. (the “ Company ”) is pleased to announce assay results
from a further six out of 16 diamond drill holes fr om the 2021 drilling campaign at the
Florin Gold Project located in the Mayo Mining Dist rict, Yukon Territory, Canada, (Fig
1.). The step-out drilling program was designed to test gold in soil geochemical targets
in proximity to the current 2.47M oz gold inferred resource 1 with step out drilling to the
northwest and south east along the Jethro Fault. Ad ditionally, areas currently defined
as strip ratio material within the inferred resourc e pit shell were also drill tested. To
date the Jethro Fault has been traced for over 5 km , of which approximately 1.3 km
has been drill tested.
Figure 1: Location of Florin Gold Project area relative to other multi-million-ounce gold projects ,
Yukon Territory, Canada
1 The Florin Gold Project contains an inferred resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading
0.45 g/t with a cut-off of 0.30g/t, at a $1,650 gold price. For additional information, see the technical report prepared in
accordance with National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson
Mining Districts, Yukon Territory, by Ronald G Simpson, P.Geo. of GeoSim Services Inc., dated April 6, 2021, a copy of
which is available under the Company’s SEDAR profile.
Highlights
● These latest drill results include drill hole DD21068. The hole was collared 380m
to the east of the current inferred resource and was drilled to the northeast at an
azimuth of 040° to test the East Zone gold in soil geochemistry anomaly.
DD21068 is mineralized from surface for the entire length of the hole and
returned 299 m grading 0.32g/t Au.
● DD21073 tested an area 240 metres northeast of the current inferred resource
and was drilled away from the inferred resource at an azimuth of 028° to the
northeast. The drill hole was mineralized from surf ace throughout the length of
the hole, including from surface 89 m grading 0.49g/t Au.
● These drill holes show broad intersections of gold mineralization including
intermittent higher grade intervals that will infor m future drilling programs.
Drilling was completed within untested areas on the flanks of the inferred
mineral resource as well as untested areas classified as waste strip ratio material
within the current inferred resource pit.
● Exploration completed during 2021 on the property, including drilling, surface
mapping, rock and soil sampling of gold anomalies. Exploration to date has
tested less than 2% of the property.
● The Florin Gold Project is a reduced-intrusion-related gold deposit located in the
prolific Tintina Gold Belt. Gold mineralization is hosted in intrusive and
metasedimentary rocks localized along a 1 km sectio n of the Jethro fault that
has been traced for over 5km of length.
● The remaining assay results from the 2021 Exploration program are expected to
be released in the upcoming weeks.
● The Company intends to outline its plans for the up coming 2022 Exploration
season following the final release of the 2021 Assay results.
Figure 2: Location of Diamond Drill Holes mentioned in this News Release
Results
Hole ID From (m) To (m) Interval (m) Au (g/t)
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 and upper cut off of 10g/t Au , including any lost core or
low grade zones no greater than 2.0 metres in length at 0.0 g/t Au.
George Drazenovic, CEO of St. James Gold comments , “As we continue
exploration we are encouraged by the 2021 explorati on results. The size and scope of
the gold mineralized zones at the Florin Gold Proje ct area continues to expand.
DD21068 which was drilled under the broad soil anom aly in the East Zone indicates
that there may be a further, gold bearing zone with in 400m south east of the existing
inferred resource. In addition DD21073 yielded 89 m grading 0.49g/t Au from surface
which extended the gold mineralization 240 metres E ast of the existing inferred
resource. The East Zone gold in soil footprint meas ures approximately 1.5 km x 1 km
and is approximately three times the surface footprint of the current inferred resource.
The 2021 exploration season has provided us additio nal information to assist with
future exploration targeting focussed on mineral resource expansion at the Florin Gold
Project. We expect to report the final results from the 2021 Exploration campaign over
the course of the next few weeks and also outline t he Company’s plans for the coming
2022 Exploration season.”
About the Sampling
Drill samples were one half of the sawed NQ2 drill core at a nominal 1.5 metre interval
breaking at major geological boundaries such that no sample interval was less than 0.5
metres nor greater than 1.5 metres. The samples wer e submitted to ALS Canada Ltd
prep lab in Whitehorse, Yukon for drying, crushing and pulverization in preparation for
analysis of gold in Vancouver by Fire Assay (Au-AA2 4 on a 50 gm pulp) and a suite of
33 trace elements by 33 element four acid ICP-AES m ethods. 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 International Standards ISO/IEC 17025:2017
and ISO 9001:2015. All ALS geochemical hub laborato ries are accredited to ISO/IEC
17025:2017 for specific analytical procedures.
QA/QC consisted of approximately 12% of samples and were marked as either CDN
pulp Gold Standards, Coarse Reject Duplicates or Bl anks. Standards and Blanks were
pre-entered into the sample tag books randomly with Coarse Reject Duplicates being
inserted in the sample chain at the discretion of the core logging geologist.
Dr. Stewart Jackson, P Geo, senior technical adviso r geologist, and a Qualified Person
within the meaning of National Instrument 43-101 (S tandards of Disclosure for
Minerals Projects), has reviewed and approved the t echnical 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 listed 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”. T he Company is focused on
creating shareholder value through the discovery an d development of economic
mineral deposits by acquiring prospective explorati on projects with well-delineated
geological theories; integrating all available geol ogical, geochemical, and geophysical
datasets; and financing efficient exploration progr ams. The Company currently holds:
(i) 100-per-cent stake in 29 claims, covering 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 c laims and an option to acquire a
further 100-per-cent interest in 19 claims, coverin g a total 1,730 acres, in central
Newfoundland located adjacent to Marathon Gold's Va lentine Lake property; and (iii)
an option to acquire up to an 85-per-cent interest in the Florin Gold Project, covering
nearly 22,000 contiguous acres in the historical Ti ntina 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]
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