St. James Gold Corp. (TSXV: LORD) Update on 2021 Drilling Campaign at the Florin Project, Yukon Territory, Canada
St. James Gold Corp. (TSXV: LORD) Update on 2021 Drilling
Campaign at the Florin Project, Yukon Territory, Canada
Drilling focused on expanding the 2.47Moz gold inferred mineral resource at the
Florin Project
● Seven out of 18 planned 2021 campaign coring holes drilled so far
● Logging shows potential mineralization comparable to logs from previous campaigns
● Field team locates two historic high-grade adit workings on the property
Vancouver, British Columbia, September 22, 2021 - St. James Gold Corp. (the
“Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that
the 2021 campaign has been directed towards drilling further mineralization in order to increase
the overall 2.47Moz gold inferred resource (2.47 -million-ounce i nferred gold resource
(170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut -off) at the Florin Project in the
Yukon.
The program has focused on areas adjacent to the existing inferred resource in areas where
anomalous gold results have been returned from soil sampling in previous seasons.
Figure 1 Florin Project drill campaign, location of 2.47Moz gold inferred resource, adjacent
soil anomalies and old workings
In spite of only having a week in which to mobilize, late in the field season, the team at Florin
have managed to drill 1,275m in seven holes so far, with platforms prepared for another 11
holes in the immediate area of the inferred resource.
Assay result s are not expected for several weeks. The summary logs from all these holes
describe intervals of fine -grained sulphides hosted in intrusive and meta -sedimentary rocks,
typical of the known, mineralized lithologies in the project. Any holes that remain und rilled
this season will be prioritized when the field season re-opens in Q2, next year.
Figure 2. Photo of core recovered from hole DD21-063 showing phenocrysts typical of the
Florin porphyry along with quartz veins containing fine grained sulphides similar to that seen
in core from previous campaigns
In parallel, a prospecting drive has started to map sites of historic artisanal mining identified
next to dumps that have yielded gold-bearing grab samples. These areas are under investigation
to better understand the mechanisms that concentrate higher grades of mineralization in and
around the Florin intrusive.
Figure 3. Dump tailings pile (30m vertical) from historic artisanal mining at the Florin
Project.
In the meantime, satellite imagery has been ordered to guide prospecting, mapping and
sampling in order to better understand the distribution of mineralization in and around the
Florin intrusion.
CEO George Drazenovic, commented: “We are pleased with the start-up progress on the Q3
2021 core drilling campaign at the Florin Project which is targeting areas adjacent to known
gold mineralization with the intention of adding ounces to the existing inferred Resource figure
of 2.47Moz Au. The prospecting campaign being undertake n in tandem aims to identify new
areas of mineralization which will be the target of future drill campaigns along with the West
and Treadwell Zones. In the background, we welcome the ongoing support of Resource
Geologist Trevor Rabb at Equity Exploration Consultants Ltd. who is consolidating the existing
database, ready to include upcoming assay results from this season’s drill campaign”.
The technical information included in this news release has been prepared, supervised, and
approved by Dr. Stewart A Jackson, a Qualified Person under National Instrument 43-101, and
technical advisor to the Company.
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 statements and forward -looking information
within the meaning of Canadian securities laws (collectively, “forward -looking statements”).
Forward looking statements in this news release relate to, among other things : completion of
the Offering; the timing and size of the Offering; the timing and receipt of approval from the
TSXV for the Offering; the expected use of the net proceeds of the Offering and all other
statements that are not historical facts, particularly statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or
performance of the Company. Often, but not always, forward -looking statements can be
identified through the use of words or phr ases such as “will likely result”, “are expected to”,
“expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”,
“plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward -looking
statements cont ained in this news release 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 conditions and expected future
developments, as well as other factors that are believed to be appropriate and 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 statements
as a result of new information or if management’s beliefs, estimates, assumptions or opinions
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
anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance
on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties, and other
factors, many of which are beyond the Company’s control, which 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 uncertainties 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 of risk
factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors
could materially affect its results.
New factors emerge from time to time, and it is not pos sible for the Company to consider all
of them or assess the impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from those contained in any
forward-looking statement. Any forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary statement.
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