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St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St. James Gold Corp. (the “Company”) is pleased to announce assay results from a further six out of 16 diamond drill holes from the 2021 drilling campaign at the Florin Gold Project located in the Mayo Mining District, Yukon Territory, Canada, (Fig 1.). The step-out drilling program was designed to test gold in soil geochemical targets in proximity to the current 2.47M oz gold inferred resource1 with step out drilling to the northwest and south east along the Jethro Fault. Additionally, areas currently defined as strip ratio material within the inferred resource pit shell were also drill tested. To date the Jethro Fault has been traced for over 5 km, of which approximately 1.3 km has been drill tested.

Figure 1: Location of Florin Gold Project area relative to other multi-million-ounce gold projects, Yukon Territory, Canada

Highlights

  • These latest drill results include drill hole DD21068. The hole was collared 380m to the east of the current inferred resource and was drilled to the northeast at an azimuth of 040° to test the East Zone gold in soil geochemistry anomaly. DD21068 is mineralized from surface for the entire length of the hole and returned 299 m grading 0.32g/t Au.
  • DD21073 tested an area 240 metres northeast of the current inferred resource and was drilled away from the inferred resource at an azimuth of 028° to the northeast. The drill hole was mineralized from surface throughout the length of the hole, including from surface 89 m grading 0.49g/t Au.
  • These drill holes 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 classified as waste strip ratio material within the current inferred resource pit.
  • Exploration completed during 2021 on the property, including drilling, surface mapping, rock and soil sampling of gold anomalies. Exploration to date 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 is hosted in intrusive and metasedimentary rocks localized along a 1 km section of the Jethro fault that has been traced for over 5km of length.
  • The remaining assay results from the 2021 Exploration program are expected to be released in the upcoming weeks.
  • The Company intends to outline its plans for the upcoming 2022 Exploration season following the final release of the 2021 Assay results.

 

Figure 2: Location of Diamond Drill Holes mentioned in this News Release

Results

Hole ID From (m) To (m) Interval (m) Au (g/t)

Notes:

1. True widths of intersections are unknown at this time.
2. Mineralized intervals are calculated using the weighted Au average based on length of sample, a lower cut-off of 0.3 g/t Au and upper cut off of 10g/t Au, including any lost core or low grade zones no greater than 2.0 metres in length at 0.0 g/t Au.

George Drazenovic, CEO of St. James Gold comments, “As we continue exploration we are encouraged by the 2021 exploration results. The size and scope of the gold mineralized zones at the Florin Gold Project area continues to expand. DD21068 which was drilled under the broad soil anomaly in the East Zone indicates that there may be a further, gold bearing zone within 400m south east of the existing inferred resource. In addition DD21073 yielded 89 m grading 0.49g/t Au from surface which extended the gold mineralization 240 metres East of the existing inferred resource. The East Zone gold in soil footprint measures approximately 1.5 km x 1 km and is approximately three times the surface footprint of the current inferred resource.

The 2021 exploration season has provided us additional information to assist with future exploration targeting focussed on mineral resource expansion at the Florin Gold Project. We expect to report the final results from the 2021 Exploration campaign over the course of the next few weeks and also outline the Company’s plans for the coming 2022 Exploration season.”

For Full Release: https://www.globenewswire.com/news-release/2022/04/12/2420938/0/en/St-James-Gold-Corp-Announces-Second-Batch-of-Drilling-Results-from-the-2021-Diamond-Drill-Program-at-the-Florin-Project-Yukon-Territory-Canada.html

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