St. James Gold drills 0.22 g/t gold over 293.1 metres at Florin, Yukon

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St. James Gold Corp. [LORD-TSXV; LRDJF-OTCQB; BVU3-FSE] reported assay results from several rock sample results taken during the 2021 field season and results from the final four out of 16 diamond drill holes from the 2021 drilling campaign at the Florin gold project located 55 km northwest of Mayo and 130 km east-southeast of Dawson City, Yukon, Canada.

The step-out drilling program was designed to test areas currently defined as strip ratio within the inferred resource pit shell where 2.47-million-ounce-gold inferred resource as well as to test additional targets with step-out drilling along the Jethro fault, both to the northwest and southeast of the resource. To date the fault has been traced for over five kilometres of which approximately one km has been drill tested.

Rock samples taken from the two historical Treadwell adits return high-grade gold assays of 11.15 g/t gold and 15.8 g/t gold. Hole No. DD21074 intercepted a vein within the main, mineralized Florin intrusion that returned a high-grade assay of 1.5 metres containing 7.08 parts per million, or g/t, gold.

The remainder of the holes in this batch show broad intersections of gold mineralization, including intermittent higher-grade intervals that will inform future drilling programs. Drilling was completed within untested areas on the flanks of the inferred mineral resource as well as untested areas considered as waste strip material within the current inferred resource pit.

Exploration to date on the property, including drilling, surface mapping, rock and soil sampling of gold anomalies, has tested less than 2% of the property. The Florin gold project is a reduced-intrusion-related gold deposit located in the prolific Tintina gold belt. Gold mineralization tested to date is hosted in intrusive and metasedimentary rocks along a one km section of the Jethro fault that has been traced for over five km of length.

Highlights include drill hole DD21074 returned 293.1 metres of 0.22 ppm, or, g/t gold, including 17.9 metres of 0.78 g/t gold. Hole DD21075 returned 227.7 metres of 0.18 g/t gold, including 33 metres of 0.34 g/t gold. Hole DD21076 returned 215 metres of 0.18 g/t gold, including 7.5 metres of 0.77 g/t gold and 24 metres of 0.24 g/t gold.

George Drazenovic, CEO, commented: “We are encouraged by the high-grade rock sample results from the historical Treadwell adit area as they are located in the kilometre-scale East zone soil gold geochemistry anomaly which is located less than 500 m from the edge of the inferred resource. We continue to be encouraged by data collected from the 2021 exploration season which have given us valuable information to assist in guiding future exploration programs. We expect to report results from the 2021 soil geochemistry exploration campaign over the course of the next few weeks as well as to outline the company’s plans for the coming 2022 exploration season.”

The company currently holds a 100% stake in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold’s Queensway North project and a 100% stake in nine claims and an option to acquire a further 100% interest in 19 claims, covering a total 1,730 acres, in central Newfoundland located adjacent to Marathon Gold’s Valentine Lake property and an option to acquire up to an 85% interest in the Florin gold project, covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon, Canada.

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