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St. James Gold Corp. (the “Company” or “St. James”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3)is pleased to report an interpretation of the results derived by filtering digital data from a Sentinel satellite image, selected for its coverage across the project area at St. James’ Florin Project located in Mayo District, Yukon Territory, Canada (Fig 1).

Figure 1: Location of Florin Gold Project

Highlights

  • Interpretation of Sentinel satellite data reveals an almost 9 sq km (3.5km by 2.5km in figure 2), WNW-ESE oval shaped, iron oxide signature that encircles the 2.47M oz gold inferred resource at the Florin Project (the “Florin Inferred Resources”).1
  • Filtering of the data exposes an intense iron oxide anomaly and two clay anomalies east of the oval signature in the vicinity of the Treadwell Adits, and a clay anomaly west of the oval signature, all of which may be apophyses of a kilometric scale intrusion underlying the inferred resource area.
  • Further alteration anomalies have been interpreted outside the immediate area of the Florin Inferred Resource, but within the bounds of the expanded Florin claim group (see St. James’ news release dated October 21, 2021).

Sentinel is a useful, first-pass tool for mapping iron and clay contents that can be used to identify areas of iron oxide-rich gossan which may represent residual iron content from sulphide mineralization, and epithermal clay alteration which may represent the breakdown of feldspars due to epithermal fluid flow in and around mineralized intrusions.

In the immediate vicinity of the Florin Inferred Resource, the Sentinel data has been interpreted to show an oval signature for iron oxide where the long axis measures 3.5km with a WNW-ESE strike that crudely coincides with the strike of the Jethro fault. A plausible interpretation of this oval signature is that it may be the result of a large, granitoid intrusion at depth that has within this signature the Florin Inferred Resource (Fig 2).

Figure 2: Interpreted iron oxide and clay alteration anomalies around the Florin Inferred Resource

At both ends of the oval signature along the Jethro fault, there are several anomalies outlined:

a) An iron oxide anomaly located 700m ESE of the Florin Inferred Resource, immediately to the southwest of the Treadwell Adits, where 2021 rock samples returned 15.8 g/t Au and 11.15 g/t Au respectively, at the far ESE periphery of the oval signature;2

b) Two clay alteration anomalies located 500m and 1km respectively ESE of the Treadwell Adits straddling the east end of the Jethro Fault; and

c) A diffuse clay alteration anomaly located 2.5km WNW of the Florin Inferred Resource, immediately north of the trace of the Jethro fault, that sits at the far WNW periphery of the oval signature.

If the oval signature does in fact represent a large intrusion at depth, it is plausible to interpret these features as the surface expression of apophyses related to a granitoid intrusive whose emplacement has been controlled by the Jethro Fault. As such, these anomalies will be targets for further prospecting, mapping and sampling during the coming field seasons. In addition to these targets, other colour anomalies have been identified within the Boundaries of the Florin property and will be prospected in due course.

George Drazenovic, CEO of St. James Gold comments, “These results point to exploration targets both in the close vicinity of and probably emplaced along the same structure as the Florin Inferred Resource. They will be prospected and sampled to ascertain whether they constitute drill targets aimed at possibly increasing the inferred resource ounces at the Florin Gold Project. We are encouraged by the systematic exploration approach and at the district scale potential of the Florin Gold Project keeping in mind that a very small percentage of these prospective targets have been drill tested.”

Dr. Stewart Jackson, P.Geo., senior technical advisor geologist, and a Qualified Person within the meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.

For Full Release: https://www.globenewswire.com/news-release/2022/06/16/2463955/0/en/St-James-Gold-Corp-Releases-an-Interpretation-of-Sentinel-Satellite-Imagery-at-the-Florin-Project-Yukon-Territory-Canada.html

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6/21/2022

St. James Gold Corp. (TSX-V: LORD) Soil Sampling 2021 Campaign Enlarges Extent Of Surface Gold In Soil Anomalies At The Florin Project, Yukon Territory, Canada

St. James Gold Corp. (the “Company” or “St. James”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce the results of its 2021 season, soil sampling program from areas adjacent to the 2.47 million ounce inferred gold resource1 (the “Florin Inferred Resource”) located within the Florin Project area, 60 km northwest of Mayo County...