Business
St. James Gold Announces Option Agreement To Acquire An 100% Interest In Claims Covering 1,791 Acres In The Gander Gold District Of North Central Newfoundland Island
St. James Gold Announces Option Agreement To Acquire An 100% Interest In Claims Covering ...
About this update from St. James Gold Corp
[{"type":"text","content":"\n \n \n \n St. James Gold Announces Option Agreement To Acquire An 100% Interest In Claims Covering 1,791 Acres In The Gander Gold District Of North Central Newfoundland Island\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 17, 2020\n \n /CNW/ --\n \n St. James Gold Corp.\n \n (TSX-V: LORD) (OTC: LRDJF)\n \n (the \"Company\") is pleased to announce that subject to approval of the TSX Venture Exchange, the Company has entered into an option agreement (the \"Option Agreement\") with\n \n Herb M. Froude\n \n , wherein the Company has been granted the exclusive right and option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander Gold District in North Central Newfoundland Island (the \"Grub Line Claims\").\n \n \n \n \n \n \n \n \n \n \n \n About the Grub Line Property\n \n :\n \n \n The Grub Line Claims are located in the north central part of\n \n Newfoundland\n \n within a new prolific gold district, the property represents 1,791 acres adjacent to New Found Gold Corp.'s Queensway North project and where several other companies are making new high-grade gold discoveries.\n \n \n The Property is sandwiched and structurally bound between the Joe Bates Pond (JBP) fault just to the west currently being worked by New Found Gold's Queensway's project, and the Grub Line fault. Both these faults are major continental deep seated plate faults that run through\n \n Newfoundland\n \n with a prominent sequence of felsic pyroclastic rocks trending northeasterly and in contact with mafic volcanic rocks the main geological components. The gold prospects with the Queensway North project and surroundings are typical of greenstone belts around the world but have been relatively underexplored.  The two major fault lineaments interpreted to be critical in controlling the extensive gold geochemistry found in till samples and in bedrock during the extensive sampling carried out in this area in the past two years by New Found Gold Corp. have led to a rush of activity within the belt and indicate that the property is prospec...