St James GOLD Corp’S Operator Secures Drill Contractor FOR up to 13,000 Metres of Drilling at the Florin GOLD Project IN the Yukon Territory, Canada
ST JAMES GOLD CORP’s OPERATOR SECURES DRILL CONTRACTOR FOR UP
TO 13,000 METRES OF DRILLING AT THE FLORIN GOLD PROJECT IN THE
YUKON TERRITORY, CANADA
VANCOUVER, BC, July 12, 2021 — St. James Gold Corp. (TSXV: LORD) (OTCQB:
LRDJF) (FSE: BVU3), the “Company” or “St. James Gold” is pleased to announce that on July
7, 2021 it’s Operator has secured Superior Diamond Drilling Inc., an established drill contractor
based in Mayo, Yukon, to complete up to 13,000 metres of diamond drilling at its district-scale,
89 square-kilometre Florin Gold Project located in the prolific Tombstone gold belt of the Yukon
Territory ,Canada.
The majority of drilling at the Florin Gold Project this season will be focused on expansion drilling
adjacent to the exist ing resource which currently contains an inferred mineral resource of 2.47
million oz gold in 170,993,000 tonnes grading .45 g/t gold, with a cut -off grade of .3 g/t gold
(Simpson, 2021).
Prior drill programs have encountered gold mineralization from surfa ce to depth with intercepts
and grades comparable to similar intrusion-related gold deposits in the region, including Victoria
Gold's Eagle and Olive gold deposits*. The current resource area spans approximately 900 metres
on strike along the NW fault which through multiple exploration programs has now been traced to
in excess of 5 kilometres. In addition to expansion drilling to test for potential mineralization
adjacent to the existing Resource Area the company intends to test other encouraging Geochem
targets. In particular the company intends to drill test significant Geochem targets including greater
than 500 ppb gold-in-soil anomalies that are approximately one km West of the existing Resource
Area and generally overlying a target area covering 1 km x 1 km. Oversight of the Project is being
provided by a 6 -member Technical Committee which has currently identified a total of 6 high
priority targets and 30+ drill holes at an estimated 300+ - metres each. The company anticipates
commencement of the mobilization and construction of a 28-person camp for the 2021 exploration
drill program shortly and the Company will provide further updates regarding the same in the
coming weeks.
Highlights from the Florin Gold project:
Hole Number From (meters) To (meters) Interval (meters) Au gm/t
DD03-12 4.71 162.15 157.44 0.75
DD04-14 3.82 217.38 213.56 0.81
DD04-18 16.01 220.68 204.67 0.85
DD05-19 0.00 190.20 190.20 0.60
DD05-20 110.97 308.85 197.88 0.84
Including 122.47 227.38 104.91 1.07
Including 157.60 186.23 28.63 1.60
DD05-21 42.83 106.40 63.76 1.13
Including 74.15 106.40 32.25 1.60
DD05-22 4.27 156.36 152.89 0.62
ICE10028 0 526.57 526.57 0.75
Including 48.50 149.90 101.40 1.41
Including 87.50 102.00 14.50 4.23
Including 446.00 475.05 29.05 1.25
Including 488.40 508.75 20.35 1.83
ICE 10029 4.50 455.50 451.00 0.58
ICE 10030 26.00 294.50 268.50 0.72
(Simpson, 2021)
Since the intercepts lie within a disseminated deposit with mineralization starting at surface and
extending beyond the deepest intercepts, and the mineralized zone is laterally extensive, the
intercepts are interpreted to represent 100% true thickness of the mineralization.
● previous anomalous soil samples, from trace up to 4,256 ppb gold, extend over a broad
zone extendin g well beyond the footprint of the indicated resource, particularly to the
northwest and southeast.
"With the Company’s recently closed $5 million financing and a highly experienced and local drill
contractor now secured, we are in an excellent position to further delineate the substantial existing
gold resource at the Florin Gold Project," stated George Drazenovic, Chief Executive Officer and
director of St. James Gold. Corp. "The exceptional prior drill results, including hole ICE 28, being
526 metres 0f 0.75 g/t Au mineralized from surface and ending in mineralization The broader
intercept also includes a near surface higher grade intercept of 101.4 metres at 1.41 g/t. The current
resource remaining open both laterally and at depth within a target area that is potentially in excess
of 5 square km, supported by both Geochem and geophysics as prospecting tools, demonstrates
the potential for hosting additional significant gold mineralization and discoveries.. These
intercepts are similar to other similar Tombstone porphyry deposits such as Victoria Gold’s Eagle
Gold deposit located 29 km to the East, as well as Kinross’s Fort Knox Deposit located to the West
in Fairbanks Alaska*. We are looking forward to the 2021 drilling program as well as continuing
exploration efforts at other prospective target areas within the 89 square -kilometre district-scale
property."
St James’ Operator has a Class 3 Mining Land Use Permit for the Florin Gold Project claim blocks,
comprising the 89 square km Florin Gold Project. The Class 3 permit, valid until March 20, 2026,
will allow St. James Gold Corp. to complete advanced exploration activities across the Florin Gold
Project claim blocks. The Class 3 land use permit will allow St. James Gold Corp’s Operator to
aggressively move forward to drill test several priority targets across the district-scale Florin Gold
Project gold project in 2021 and beyond.
About the Florin Gold Project
The Florin Gold Project is an 89 square km, contiguous, district-scale land package accessible by
the road running through the Clear Creek District, Big Creek District and Sprague Creek District
in the Yukon's Tintina gold belt and within the Tombstone gold belt. The Florin Gold Project is a
large consolidated land package strategically positioned 29 Km West of Victoria Gold's Eagle
Gold Mine which recently achieved commercial production in July, 2020. Lying 20 Km to the
northwest is Brewery Creek, a past producing mine; and 10 km to the west is Sitka’s recently
discovered RC Project mineralizion located at the Clear Creek Area *.
St. James Gold Corp has inherited a wealth of historical and current data from the projects in this
district. Recent exploration work and the compilation of historical data have defined several
mineralized zones with not onl y bulk tonnage, intrusion -related gold deposit targets but also
potential for higher-grade, vein and breccia-hosted gold targets.
* For more detailed information on the Florin Gold Project please visit the Company's website.
Deposit model
Exploration on t he property has predominantly been focused on advancing the intrusion related
gold system (IRGS). The property is part of the Tombstone gold belt, which is the prominent host
to IRGS deposits within the Tintina gold province in Yukon and Alaska. Notable de posits from
the belt include:*
● Fort Knox mine in Alaska with current reserves of 282 million tonnes at 0.37 g/t Au (3.4
million ounces, not including 7.5 million ounces of past production, Fairbanks Gold
Mining Inc.);
● Eagle gold mine with 155 million tonne s at a diluted grade of 0.65 g/t Au (3.26 million
ounces, Victoria Gold Corp., 2020);
● The Brewery Creek epizonal deposit with 17.17 million tonnes at a gold grade of 1.45 g/t
(726,000 ounces, Barr, 2013);
● The Florin gold deposit, with 170.99 million tonnes grading 0.45 g/t (2.47 million ounces,
St. James Gold Corp., Simpson, R., 2021).
* The presence of gold in these several other locations is not necessarily indicative of the
presence of similar mineralization on the Florin gold deposit location.
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 presente d 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”. St. James Gold is focused on creating shareholder value
through the discovery and development of economic mineral deposits by: acquiring prospective
exploration projects with well-delineated geological theories; integrating all available geological,
geochemical and geophysical datasets; and financing efficient exploration programs. The company
currently holds: (i) an option to acquire a 100-per-cent interest in 29 claims, covering 1,791 acres,
in the Gander gol d district in north -central Newfoundland located adjacent to New Found Gold
Corp.'s Queensway North project; and (ii) an option to acquire a 100-per-cent interest in 28 claims,
covering 1,730 acres, in central Newfoundland located adjacent to Marathon Gold 's Valentine
Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin gold project
with current resource of 2.47M Inferred Ounces (Ron Simpson NI 43-101), covering nearly 22,000
contiguous acres in the historical Tintina go ld belt in Yukon. For more corporate information
please visit: http://stjamesgold.com/
George Drazenovic, CPA, CGA, MBA, CFA
St. James Gold Corp.
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 legislation (collectively, “forward -looking statements”) that
relate to St James Gold's current expectations and views of future events. Any statements that
express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future
events or performance (often, but not always, through the use of words or phrases such as “will
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that these expectations will prove to be correct and such forward -looking statements included in
this news release should not be unduly relied upon. These statements speak only as o f the date of
this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of
risks and uncertainties, many of which are beyond St James Gold’s control, which could cause
actual results and events to diffe r 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. St James Gold undertakes no
obligation to update or revise any forward -looking statements, whether as a result of new
information, future events or otherwise, except as may be required by law. New factors emerge
from time to time, and it is not possible for St James Gold to predict 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-
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