ST. JAMES GOLD CORP. COMPLETES 15 DRILL HOLES TO INCREASE INFERRED RESOURCES AT THE FLORIN PROJECT, YUKON TERRITORY, CANADA
St. James Gold Corp. has completed its 2021 drill program at the Florin Gold Project in Yukon, totaling 3,613 meters. The drilling aimed to extend the inferred gold resource of 2.47 million ounces along the Jethro Fault. Of the total, 1,324 meters focused on the inferred resource area, with results pending. The company also conducted a LiDAR survey for improved structural interpretations. CEO George Drazenovic highlighted the team's success despite a late start, emphasizing the importance of upcoming assay results for future drilling plans.
- Completion of 3,613 meters of diamond drilling, focusing on extending the 2.47 million ounce inferred gold resource.
- Pending assay results from drilling could provide valuable insights for future exploration efforts.
- Assay results are still pending, introducing uncertainty about the success of the drilling program.
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Vancouver, British Columbia, Oct. 21, 2021 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has completed its 2021 field season drill program at the Florin Gold Project located in Mayo Mining District, Yukon Territory, Canada (the “Florin Gold Project” – Figure 1).
The Company completed 3,613m of diamond drilling on the property to extend mineralization of the 2.47 million ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off) which sits on the northwest striking Jethro Fault.
Of this, 1,324m of drilling was focused on the inferred resource area and on encouraging interpretations for structurally controlled extensions of the inferred resource in adjacent West and East Zones of the Jethro Fault (1,308m and 980m respectively – Figure 2).
The current inferred resource extends approximately 900 metres along strike of the fault which has been traced for five kilometres and is the site of three further, significant geochemical anomalies. The assay results from these holes are pending and expected to be received in the coming weeks, along with soil geochemistry survey results, both of which will assist in guiding targeting for the proposed spring 2022 drill campaign.
A LiDAR Survey over the entire claim block was completed in early September, that will assist in structural interpretations.
George Drazenovic, CEO of St. James Gold comments, “In spite of a late start in the season, the field team has done well to complete these holes which are intended to test projected extensions of mineralization adjacent to the inferred resource (Figure 2) at the Florin Project. The Company will be reporting the assay results from these holes in the near future and, after further analysis and consideration, will make use of this important data to direct further drilling next field season.”
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 listed on the TSXV under the trading symbol “LORD”, in the U.S. Market listed on the OTCQB under the trading symbol “LRDJF” and on the Frankfurt Stock Exchange under the trading symbol “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 funding efficient exploration programs. The Company currently holds both an option to acquire a
St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com
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: the issuance of common shares pursuant to the exercise of options 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 phrases 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 contained 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 possible 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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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