St. James Gold Corp. [LORD-TSXV; LRDJF-OTCQB; BVU3] reported encouraging assay results from five of 16 initial diamond drill holes from the 2021 drilling campaign at the Florin gold project located in the Mayo mining district, Yukon Territory, Canada. The step-out drilling program was designed to increase mineral resources within the currently defined resource pit shell where 2.47M oz gold inferred resource1 exists.
The latest drill results show broad intersections of gold including intermittent higher grade intervals that will inform future drilling programs. Step-out drilling was completed within untested areas within proximity to the inferred mineral resource and within areas previously considered as waste strip ratio within the current inferred resource pit.
Holes 63, 65 and 66 were drilled to the northeast at an azimuth of 028Ëš. Assay results from these holes indicate the resource remains open in all directions and at depth. Exploration on the property including drilling, surface mapping, rock and soil sampling of gold anomalies has tested less than 1% of the property to date.
Highights included drill hole DD21065 that returned 180./3 metres of 0.40 g/t gold. Hole DD21063 returned 238.8 metres of 0.27 g/t gold. Hole DD21066 returned 158.8 metres of 0.25 g/t gold. Hole DD21064 returned 212.1 metres of 0.21 g/t gold. Hole DD21067 returned 215.4 metres of 0.11 g/t gold.
The Florin Gold Project is a reduced intrusion related gold deposit located in the prolific Victoria Gold – Keno Hill – Scheelite Dome gold district in Yukon. Gold mineralization is hosted in a granite intrusive that extends for at least 5km of strike along the Jethro Fault of which only 1 km has been drill tested to date. Further assay results expected over the next several weeks.
George Drazenovic, CEO, said, â€œWe are pleased that this first batch of assay results from the late 2021 diamond drill campaign show encouraging gold values down the length of each hole including some encouraging intercepts in areas previously modelled as waste rock areas. These mineralized intercepts are expected to lower the current conceptual strip ratio at the Florin Gold Project. We expect to report further results from the campaign over the course of the next few weeks. These first results from the 2021 exploration season will give us valuable information to guide future exploration programs and resource expansion drilling.â€
St. James Gold has 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 Territory, Canada.