- Diamond drilling has commenced at the Florin Gold Project
- The company is planning to complete a minimum of 7,000 metres of diamond drilling from now until mid-September
- A LiDAR survey has been commissioned to improve structural interpretation of the Florin Gold Project
- The company has entered into a 6-month consulting agreement with North Equities Corp for media relations support
- St. James Gold is engaged in the acquisition, exploration, and development of mineral resource properties located in Canada
- St. James Gold Corp. (LORD) opened trading at C$4.00 per share
St. James Gold (LORD) is pleased to announce that diamond drilling has commenced at the Florin Gold Project located in the Yukon Territory.
The company is planning to complete a minimum of 7,000 metres of diamond drilling from now until mid-September aimed at expanding the 2.47-million-ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off) which sits on the northwest striking Jethro Fault.
Drilling program highlights:
- A drill program between 7,000 and up to 13,000 metres aimed at increasing the existing 2.47 million ounce inferred gold resource at the Florin Gold Project
- Priority step-out drill targets adjacent to an existing resource
- Approximately 900 metres of a five-kilometre structure drill-tested to date
- LiDAR survey commissioned to improve structural interpretation of the Florin Gold Project
The existing inferred resource is based on drilling 900 metres along the strike of the fault which has been traced for five kilometres and is the site of three further, significant geochemical anomalies.
The planned program will prioritize drilling of six holes to a depth of 300 metres on an initial, untested, step-out target that sits adjacent to and northwest of the inferred resource.
Later in the program, it is intended to drill the Treadwell anomaly that sits southeast of the inferred resource and which historically returned gold in soil assay results up to 500ppb gold.
Both the initial target and the Treadwell area geochemical results may be significant since they have similar strike potential compared to the areal extent of the existing inferred resource, indicating that this prospect may hold the potential and structural complexity to increase in size.
The company has also commissioned a contractor to complete a LiDAR survey over the entire claim block, which will support the structural interpretation of the project area.
George Drazenovic, CEO of St. James Gold Corp. commented on the drilling campaign.
“The campaign will prioritize prospective areas for drilling, informed by the accumulation of mapping, sampling and drilling as well as geophysical and geochemical data from previous exploration seasons. This data indicates potential for expansion of the inferred resource to the northwest and southeast on the Jethro Fault. A key objective for this season’s work program is to add data points to the current geological model and extend the 900 metre footprint of the inferred resource.”
The company has entered into a 6-month consulting agreement with North Equities Corp., a Toronto-based marketing firm. North Equities will provide the company with media outreach. St. James Gold will issue 18,392 common shares at a price of C$5.6987 per share as payment for US$80,000 plus tax owed for work already completed under the agreement. No further payments are due from the company to North Equities for the duration of the agreement’s term.
St. James Gold is engaged in the acquisition, exploration, and development of mineral resource properties located in Canada.
St. James Gold Corp. (LORD) opened trading at C$4.00 per share.