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St. James Gold Announces Secures And Pays Deposits To An Established Drill Contractor To Complete 7,000 Meters Of Hq-nq2-nq Diameter Diamond Drilling At Florin Gold Project, Yukon Canada
Vancouver, British Columbia, June 09, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3),( the “Company” or “St. James Gold”)
About this update from St. James Gold Corp
[{"type":"text","content":" Vancouver, British Columbia, June 09, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3),( the “Company” or “St. James Gold”) is pleased to announce that its Operator at the Florin Gold Project (as defined below), has assisted in securing and paying deposits to an established drill contractor to complete 7,000 meters and up to 8,500 meters of HQ-NQ2-NQ diameter diamond drilling with the option to add a second drill to expand the program to in excess of 12,000 meters for the 2022 drill season, at its district-scale, 89 square-kilometer Florin Gold Project (the “Florin Gold Project”) located in the prolific Tombstone gold belt of the Yukon Territory, Canada (Figure 1). Fig 1. Location of St. James’ Florin Gold Project, Yukon Territory. Further, the Company has retained Fox Exploration Ltd to provide camp and access support services for the planned drill program at the Florin Gold Project. Drilling at the Florin Gold Project this season is expected to be focused on expansion drilling adjacent to the existing inferred resource which currently contains an inferred mineral resource of 2,474,000 ounces of gold in 170,993,000 tonnes grading 0.45 g/t gold, with a cut-off grade of 0.3 g/t gold at a gold price of 41,650 per ounce (see the Company’s news release dated June 8, 2021, a copy of which is filed under the Company’s SEDAR profile at www.sedar.com). Prior drill programs at the Florin Gold Project have returned gold mineralization from surface 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 meters on strike along the NW, “Jethro” fault which, through multiple exploration programs, has now been traced for a distance in excess of five kilometers. In addition to expansion drilling to test for potential mineral on adjacent to the existing inferred resource area, the Company intends to test other encouraging geochemistry targets, in particular: those in and around the Treadwell adits immediately to the east of the inferred resource area which have returned high grade rock grab samples containing up to 15.85 g/t Au (see St. James Gold’s news release dated April 29, 2022); and an area of possible clay alteration supported by nearby gold in soi...