St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has filed an independent technical report titled “Florin Gold Project NI 43-101 Technical Report Mayo and Dawson Mining Districts, Yukon Territory”, prepared by Ronald G. Simpon, P.Geo., with an effective date of April 6, 2021 (the “Technical Report”). The Technical Report conforms to National Instrument 43-101 – Standards for Disclosure of Mineral Projects and supports the disclosure in the Company’s news release dated Apri 12, 2021. The Technical Report discloses an inferred mineral resource at the Florin Gold Project of 2,474,000 ounces of gold in 170,993,000 tonnes grading 0.45 g/t with a cutoff of 0.30 g/t, at a gold price of $1,650 per ounce.
The Technical Report recommends an exploration program totalling approaximately $23 million, as previously disclosed in the Company’s April 12th news release, but recommends that such program be carried out in three phases rather than two. The Phase I first year exploration program is budgeted at $2,300,000 and includes 5,000 metres of diamond drilling, the Phase II second year exploration program is budgeted at $6,769,000 and includes 15,000 metres of diamond drilling; and the Phase III program for the third and fourth years is budgeted at $14,500,000 and includes 40,000 metres of diamond drilling. The decision to proceed with either Phase II or Phase III is contingent upon results from the preceding stage.
The Technical Report will be available for viewing on the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.
Dr. Stewart Jackson, P.Geo., senior technical advisor geologist, and a Qualified Person within the meaning of NI 43-101, 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/2021/06/08/2243951/0/en/ST-JAMES-GOLD-CORP-TSX-V-LORD-FILES-NI-43-101-TECHNICAL-REPORT-REGARDING-FLORIN-GOLD-PROJECT.html
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