Business
St. James Gold Releases an Interpretation of Sentinel Satellite Imagery at the Florin Project, Yukon Territory, Canada
Vancouver, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company” or “St. James”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pl
About this update from St. James Gold Corp
[{"type":"text","content":" Vancouver, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company” or “St. James”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to report an interpretation of the results derived by filtering digital data from a Sentinel satellite image, selected for its coverage across the project area at St. James’ Florin Project located in Mayo District, Yukon Territory, Canada (Fig 1). Figure 1: Location of Florin Gold Project Highlights Interpretation of Sentinel satellite data reveals an almost 9 sq km (3.5km by 2.5km in figure 2), WNW-ESE oval shaped, iron oxide signature that encircles the 2.47M oz gold inferred resource at the Florin Project (the “Florin Inferred Resources”).1 Filtering of the data exposes an intense iron oxide anomaly and two clay anomalies east of the oval signature in the vicinity of the Treadwell Adits, and a clay anomaly west of the oval signature, all of which may be apophyses of a kilometric scale intrusion underlying the inferred resource area. Further alteration anomalies have been interpreted outside the immediate area of the Florin Inferred Resource, but within the bounds of the expanded Florin claim group (see St. James’ news release dated October 21, 2021). Sentinel is a useful, first-pass tool for mapping iron and clay contents that can be used to identify areas of iron oxide-rich gossan which may represent residual iron content from sulphide mineralization, and epithermal clay alteration which may represent the breakdown of feldspars due to epithermal fluid flow in and around mineralized intrusions. In the immediate vicinity of the Florin Inferred Resource, the Sentinel data has been interpreted to show an oval signature for iron oxide where the long axis measures 3.5km with a WNW-ESE strike that crudely coincides with the strike of the Jethro fault. A plausible interpretation of this oval signature is that it may be the result of a large, granitoid intrusion at depth that has within this signature the Florin Inferred Resource (Fig 2). Figure 2: Interpreted iron oxide and clay alteration anomalies around the Florin Inferred Resource At both ends of the oval signature along the Jethro fault, there are several anomalies outlined: a) An iron oxide anomaly located 700m ESE of the Florin Inferred Resource, immediately to the southwest of the Treadwell Adits, where 2021 ro...