St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF)
(FSE: BVU3) is pleased to announce the results from interpretation
of its 2021 season, Light Detection and Ranging (“LiDAR”) survey at
the Florin Project located 60 km northwest of Mayo County, Yukon
Territory, Canada which is host to the Florin Inferred Gold
Resource1.
Highlights
of the LiDAR survey interpretation
- Seven new areas
of high prospectivity within the Florin Gold Property boundaries
have been identified for follow-up exploration
- WSW–ENE and
NNW–SSE structural controls on gold-in-soil anomalies will guide
diamond drilling in the immediate area of the Florin Gold Inferred
Resource.
- NW and NNE
lineament populations indicate that the mineralized gold hosting
intrusion may be partially down-dropped and preserved to the
northwest of the Florin Inferred Resource.
The survey covered the entire, 22,000-acre (89
km2) area of the original Florin Project claims that surround the
Florin Inferred Resource employing LiDAR technology to discern what
are the predominant, structural trends responsible for gold
mineralized emplacement of the resource and to identify other areas
within the mineral tenure claims group that display similar
structural complexity as prospective sites for further targeted
exploration.
Figure 1: Coincidence of interpreted
structures with the Florin Intrusion outcrop and Florin Inferred
Resource
Structures around the Florin Inferred
Resource
Structures trending NW – SE and NNE – SSW were
interpreted from the survey which, along with the mapped trace of
the Florin Intrusion and the trace of the Florin Inferred Resource
were overlain on a digital elevation model in and around the
resource area (Figure 1). The interpreted structures show a strong
correlation with the surface trace of the Florin intrusion. This
correlation also suggests that the area to the northwest of the
resource may have been down-dropped, thereby presenting a deeper
target for future drill testing.
Structures trending WSW – ENE and NNW – SSE were
also interpreted from the LiDAR survey which were overlain on the
contoured in soil gold geochemistry assays in and around the
resource area (Figure 2). The interpreted structures show a strong
correlation with higher grade zones of gold-in-soil anomalism and
will guide drilling to focusing on expansion of the Florin Inferred
Resource. The interpretation also emphasizes a broad area east of
the resource – the Treadwell Zone – which will provide a focus for
the initial holes for the 2022 drill campaign.
Figure 2: Coincidence of
interpreted structures with contoured gold-in-soil geochemistry
around the Florin Inferred Resource
Structures in the
wider Florin claim
areaAnalysis of interpreted structures in the immediate
vicinity of the Florin Inferred Resource has led to identification
of seven further, kilometric scale domains which display broadly
similar density and orientation of structures. Historic, stream
sediment sample and rock chip sample assay results will help
prioritize the order in which these areas are prospected (Figure
3).
Figure
3: High priority
prospects with structural signatures similar to the Florin Inferred
Resource area
George Drazenovic, CEO of St. James Gold
comments, “Interpretation of the 2021 LiDAR survey has
yielded seven new, highly prospective areas for exploration that
have the same structural signature as the area containing the
Florin Inferred Resource and will provide a robust stimulus for
heli-supported prospecting during the 2022 field season and beyond.
Further, there is clear indication of which structures may control
the morphology of the Florin Intrusion and the main controls on
gold mineralization. This has been a useful investment for St James
as we advance the Florin Project towards am updated and upgraded
resource statement in the coming months.”
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 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.
For more corporate information please
visit: http://stjamesgold.com/
St. James Gold Corp.For further information,
please contact:George Drazenovic, Chief Executive OfficerTel:
1 (800)
278-2152Email: 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”). 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.
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.
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