- Mobilization of crew and the initiation of camp construction
- A drill program between 7,000 and 8,500 metres planned to increase the existing inferred gold resource
- Priority step-out drill targets adjacent to existing resource
- Approximately 900 metres of a 5-kilometre structure drill-tested to date
- 2021 soil geochemistry results better define 2022 drill targets
- Interpretation of the 2021 LiDAR survey to better define structural targets for the 2022 drill program
St. James Gold Corp. (LORD) has commenced camp construction and mobilized drill equipment and crew to the road-accessible Florin Gold Project.
The project is host to the 2.47 million ounce Florin Inferred Resource, located within the Florin Project area, 60 kilometres northwest of Mayo County, Yukon (Fig 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 with is available under the Company’s SEDAR profile.
The 16-member crew will oversee a diamond drill program of up to 8,500 metres. The drill program is aimed at expansion of the 2.47 million ounce inferred gold resource which is contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30 g/t
and sits on a northwest striking structure known as the Jethro Fault.
George Drazenovic, CEO of St. James Gold commented:
“We are launching the 2022 drill campaign to prioritize the most prospective areas as informed by an accumulation of data, including geochemical work, geophysics, and from previous exploration seasons. Geological mapping, sampling, drilling and geophysical work completed in prior seasons indicate expansion potential of the resource to the northwest and southeast on the Jethro fault. Our key objective for this season is to extend the footprint of the inferred resource”.
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.
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”. The Company 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) 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 claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 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, covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon Territory, Canada.
St. James Gold Corp. (TSXV:LORD) opened trading at C$0.42.