St. James GOLD Corp. Soil Sampling 2021 Campaign Enlarges Extent of Surface GOLD IN Soil Anomalies at the Florin Project, Yukon Territory, Canada
ST. JAMES GOLD CORP. SOIL SAMPLING 2021 CAMPAIGN ENLARGES EXTENT
OF SURFACE GOLD IN SOIL ANOMALIES AT THE FLORIN PROJECT, YUKON
TERRITORY, CANADA
Vancouver, British Columbia, June 21, 2022 - St. Ja mes Gold Corp. (the “ Company ” or “ St. James ”)
(TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce the results of its 2021 season,
soil sampling program from areas adjacent to the 2. 47 million ounce inferred gold resource 1 (the “Florin
Inferred Resource”) located within the Florin Proje ct area, 60 km northwest of Mayo County, Yukon
Territory, Canada (Fig 1).
Figure 1: Location of Florin Gold Project
Highlights
Compilation of soil sampling results from the 2021 campaign along with historic soil and rock
sampling and drilling results show that the East Zone is a highly prospective target that merits
further drilling.
1 The Florin Gold Project contains an inferred resour ce of 2,474,000 oz gold contained in 170,993,000 to nnes 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 Pro ject NI 43-101 Technical Report, Mayo and Dawson Mi ning Districts,
Yukon Territory, by Ronald G Simpson, P.Geo. of Geo Sim Services Inc., dated April 6, 2021, a copy of w ith is available under
the Company’s SEDAR profile.
Location of higher-grade soil sampling results in t he West Zone imply that a zone of interpreted
clay alteration may be underlain by a gold bearing system that merits further exploration
including drilling.
The program was designed to augment existing soil g eochemistry surveys to extend the surface trace of
gold in soil anomalies along the strike of the Jethro fault, which is the principal structural control for gold
mineralization on the project. There are two grids (East and West) covering two areas of the project
underlain by different lithologies and levels of erosion (Fig 2).
Figure 2: Location of 2021 soil sampling grids
East Zone: Results of the 2021 soil sampling program in the context of a compilation of historic data
The East Zone straddles the Jethro Fault approximat ely 1 km east of the Florin Inferred Resource and
encompasses the Treadwell area which contains two h istoric mining adits known as the Treadwell Adits.
The 2021 soil sampling results comprise 90 samples that were assayed for gold and 35 other elements.
The gold grades for the top ten samples range from 91– 503ppb Au; the top three soil samples range from
324 – 503ppb Au, all of which sit within 600m of the Treadwell Adits located in the East Zone. While the
samples from the Treadwell adits yielded one sample of 11.15 g/t (11,115 ppb) Au and another of 15 g/t
(15,000 ppb) Au. 2
The 2021 results have been superposed on a digital elevation model base layer which outlines the
following: the surface trace of the Florin Inferred Resource, the surface trace of historic gold in so il
geochemistry, assay results from historic drilling and assay results from three high-grade rock sample s
from the Treadwell Adits area (St James news releas e dated April 29, 2022). The historic soil sample
results describe a gold in soil polygon which exten ds 1.8km NNW-SSE by 1km E-W starting 250 metres
2 Grab samples are selective by nature and may not be representative of actual grades of styles of mineralization across the Florin
Gold Project.
from the east end of the trace of Florin Inferred R esource. Some of the historic drilling beneath the soil
polygon returned assay results that fall within the 0.3g/t Au cut-off grade for the Florin Inferred Resource
itself. These results will be a useful vector in guiding future exploration drilling (Fig 3).
Fig 3: East Zone 2021 Florin Project soil and rock sampling and historic diamond drill hole results
Compiling these 2021 geochem results along with the results from historic soil sampling and drilling
programs confirms the East Zone, and within it the Treadwell area, as a high priority target for furth er
exploration. The results also extend the gold in so il anomaly by 600 metres adjacent to the SE/SW of t he
southeast end of the Florin Inferred Resource. The next stage of exploration during the 2022 field sea son
will be mapping, sampling and capture of XRF measur ements that track gold pathfinder elements. As
appropriate, those results can be followed by drill testing of key targets to see whether a high-grade zone
can be modelled as a potential starter-pit for when the project moves towards a preliminary economic
assessment.
West Zone: Results of the 2021 soil sampling program
The second section refers to an area to the west of the Florin Inferred Resource on the projected stri ke of
the Jethro Fault. The 2021 soil sampling results co mprise 281 samples that were assayed for gold and 3 5
other elements that cover an oblong polygon 1 km by 1.2 km northwest of the Florin Inferred Resource as
well as a single line of sampling 500 metres due no rth of the Florin Inferred Resource. The gold grade s
for the top five Geochem samples range from 50 – 78 ppb Au.
The 2021 results have been superposed on a digital elevation model base layer to show: historic soil
geochemistry results; the surface trace of the Flor in Inferred Resource; the surface trace of a kilome tric
scale, oval, iron oxide anomaly that wraps around t he Florin Inferred Resource as interpreted from
Sentinel satellite data; and areas of interpreted c lay alteration also derived from the Sentinel data. Three
of the 2021 soil sampling results are adjacent to a 700 m x 450 m clay anomaly interpreted from the
Sentinel data that sits north and upslope of the projected strike of the Jethro Fault (Fig 4).
Figure 4: West Zone 2021 Florin Project soil sampling results
These results indicate that the interpretation of a clay altered area may be the surface expression of an
extensive underlying gold bearing system, the Eastern edge of which has been picked up by the 2021 soi l
sampling program contained within the red oblong as shown in Figure 4. This encouraging target is on
trend with the Jethro Fault which is a major structural control for gold mineralization. This supports prior
exploration efforts wherein the company traced the Jethro Fault for more than five kilometres of which
only 1.2 kilometres has been partially drill tested showing that the current inferred resource sits on a 875
metre section of the Fault. The next stage of exploration in this westerly zone will be extension of the soil
grid to cover the clay anomaly, mapping, sampling a nd capture of XRF measurements to track
pathfinders. If results show that the clay anomaly is gold bearing, the company will incorporate the m ost
promising areas for potential drill testing.
George Drazenovic, CEO of St. James Gold comments , “These soil sampling results along with drill
results from 2021 and other historic data have conf irmed the importance of the East Zone target which
lies just 200m east of the proposed Florin Inferred Resource pit shell on the Jethro Fault. In additio n, the
location of some higher-grade soil sampling results at the west end of the Jethro Fault, less than 200
metres from a 700 metres long clay anomaly that str addles the fault, has yielded another high priority
target for follow-up exploration. The scope and sca le to expand gold mineralization at the Florin Gold
project continues to evolve and outlines a strong s tructural control on the emplacement of gold at the
Project. As such, the entire length of the 5 km Jet hro Fault will be tested in this and subsequent fie ld
seasons. Currently, approximately 1.2 km has been d rill tested of which 875 metres is within the Flori n
Inferred Resource”.
Dr. Stewart Jackson, P.Geo., senior technical advis or 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 listed on the TSX Venture Exchange under the trading
symbol “LORD”, in the U.S. Market listed on OTCQB u nder "LRDJF" and on the Frankfurt Stock
Exchange under “BVU3”. The Company is focused on cr eating shareholder value through the discovery
and development of economic mineral deposits by acq uiring prospective exploration projects with well-
delineated geological theories; integrating all available geological, geochemical, and geophysical datasets;
and financing efficient exploration programs. The C ompany currently holds: (i) 100-per-cent stake in 2 9
claims, covering 1,791 acres, in the Gander gold di strict in north-central Newfoundland located adjace nt
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 i n 19 claims, covering a total 1,730 acres, in centr al
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 ac res
in the historical Tintina gold belt in Yukon Territory, Canada.
For more corporate information please visit: http://stjamesgold.com/
St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: [email protected]
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