- St. James Gold (LORD) has announced positive initial results from an Induced Polarization (IP) survey on its Quinn Lake Property
- The property is located in Newfoundland
- Five of nine IP profiles have been completed and processed so far
- The company intends to complete a surface geochemical survey on the property following up on the results of the IP survey for further drill hole targeting
- St. James Gold is up 4.08 percent, trading at $0.51 at 10:42 a.m. ET
St. James Gold (LORD) has announced positive initial results from an Induced Polarization (IP) survey on its Quinn Lake Property.
The property is located in Newfoundland.
Five of nine IP profiles have been completed and processed so far.
Results of a historical survey show a near surface chargeability anomaly. The Vancouver-based company hopes the current IP survey will achieve additional IP coverage of the prospective zone and determine the full extent of the chargeability anomaly.
It intends to complete a surface geochemical survey on the property following up on the results of the IP survey for further drill hole targeting.
The Quinn Lake Property also straddles the Valentine Lake Shear Zone and Rogerson Lake Conglomerate which are spatially related to gold mineralization in the area.
“We are very pleased with the initial results from the ongoing Induced Polarization survey. The preliminary IP data is encouraging and will help focus future exploration work on the property,” said St. James Gold CEO George Drazenovic.
St. James Gold is up 4.08 percent, trading at $0.51 at 10:42 a.m. ET.