St. James GOLD Corp. (TSXV: LORD) Plans Induced Polarization Survey ON Quinn Lake Property Adjacent to Marathon GOLD Discoveries Being Geared FOR Production, Newfoundland, Canada
ST. JAMES GOLD CORP. (TSXV: LORD) PLANS INDUCED POLARIZATION SURVEY
ON QUINN LAKE PROPERTY ADJACENT TO MARATHON GOLD DISCOVERIES
BEING GEARED FOR PRODUCTION, NEWFOUNDLAND, CANADA
April 20 th , 2022 - St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St.
James Gold Corp. (the “ Company ”) is planning an Induced Polarization (IP) survey on the Quinn
Lake property in Newfoundland, Canada. The Quinn Lake property adjoins the eastern margin of
Marathon Gold’s Valentine Gold Project who are advancing the project through to production.
The Company has retained Simcoe Geoscience who will be completing a 10 line kilometer survey
over portions of the property, and testing 3.5 km strike length of the Valentine Lake Shear Zone.
The Company has compiled geological and geophysical field data on the property including
historical IP surveys that cover portions of the Quinn Lake Property. The results of the historical
survey showed near surface chargeability anomaly. The current IP survey will achieve additional IP
coverage of the prospective zone and determine the full extent of the chargeability anomaly.
The Quinn Lake Property is flanked to the east by the Canterra-Wilding property, where multiple
discovery holes have been drilled in recent campaigns (Figure 1, below).
Figure 1. Quinn Lake Property in red between Marathon’s Valentine Gold Project in yellow to
the west and the Canterra’s-Wilding Gold Project in blue to the east.
Marathon’s Valentine Gold Project contains a series of five mineralized deposits. The Leprechaun,
Sprite, Berry, Marathon, and Victory along a 20-kilometre system. An April 2021 feasibility study
outlined an open pit mining and conventional milling operation over a 13-year mine life with a 31.5-
per-cent after-tax rate of return. The Valentine Gold Project has estimated proven mineral reserves of
1.40 million ounces (29.68 million tonnes at 1.46 grams per tonne) and probable mineral reserves of
650,000 ounces (17.38 million tonnes at 1.17 g/t). Total measured mineral resources (inclusive of the
mineral reserves) comprise 1.92 million ounces (32.59 million tonnes at 1.83 g/t) with indicated
mineral resources (inclusive of the mineral reserves) of 1.22 million ounces (24.07 million tonnes at
1.57 g/t). Additional inferred mineral resources are 1.64 million ounces (29.59 million tonnes at 1.72
g/t Au). Readers should refer to the Marathon’s filings made with the Canadian securities regulatory
authorities and available at www.sedar.com for further details and assumptions related to the
Valentine Gold Project. The reader is cautioned that the presence of the above discussed
mineralization on the nearby property does not necessarily indicate that any such mineral resource
may be discovered on the Quinn Lake Property, or if discovered that it may be economically
recoverable.
Figure 2. Quinn Lake target shown in pink straddling the Valentine Lake Shear Zone.
The prospective contact between the igneous trondhjemite (tonalite) with the Rogerson Lake
Conglomerate is within proximity to the Valentine Lake shear Zone. This is a key contact and feature
of the multiple Marathon discoveries. The Valentine Lake Shear Zone trends from the Marathon
trend of discoveries through the Quinn Lake Property and further to the east onto Canterra’s Wilding
Gold Project.
The Quinn Lake Property also straddles the Valentine Lake Shear Zone and Rogerson Lake
Conglomerate which are spatially related to gold mineralization in the area.
George Drazenovic, CEO of St. James Gold comments , “We look forward to enhancing the
current geophysical response extending eastward from the Marathon series of gold discoveries lying
immediately to the west.”
Additionally, Jay Jiang Yu, Chairman and President of St. James Gold states , “One of my
initiatives is to unlock the value of our Newfoundl and property holdings in this region of intense
recent gold exploration.”
Dr. Stewart Jackson, P.Geo., senior technical advisor 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
This news release contains forward-looking statemen ts and forward-looking information within the
meaning of Canadian securities laws (collectively, “ forward-looking statements ”). Forward-
looking statements in this news release relate to a ll statements that are not historical facts,
particularly statements that express, or involve di scussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or perform ance of the Company. Often, but not always,
forward-looking statements can be identified through the use of words or phrases such as “will likely
result”, “are expected to”, “expects”, “will contin ue”, “is anticipated”, “anticipates”, “believes”,
“estimated”, “intends”, “plans”, “forecast”, “proje ction”, “strategy”, “objective” and “outlook”.
Forward-looking statements contained in this news r elease are made based on reasonable estimates
and assumptions made by management of the Company at the relevant time in light of its experience
and perception of historical trends, current condit ions and expected future developments, as well as
other factors that are believed to be appropriate a nd reasonable in the circumstances. Forward-
looking statements contained in this news release are made as of the date of this news release and the
Company will not update any such forward-looking st atements as a result of new information or if
management’s beliefs, estimates, assumptions or opi nions change, except as required by law. There
can be no assurance that forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those an ticipated in such statements. Accordingly, the
reader is cautioned not to place undue reliance on forward-looking statements.
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
forward-looking statements. Such risks and uncertai nties include, but are not limited to, the impact
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
www.sedar.com. The Company cautions that the list o f risk factors and uncertainties described in its
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
results to differ materially from those contained i n any forward-looking statement. Any forward-
looking statements contained in this news release a re expressly qualified in their entirety by this
cautionary statement.
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