Vancouver, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce a video of the recent site visit by management to its Florin Gold Project in the Yukon Territory, Canada. Footage of the site visit can be viewed through the following link:
See full videos of George Drazenovic, CEO of St. James Gold, on site:
https://youtu.be/hZmytt6pp6A (Florin Gold Project Drill Site Overview)
https://youtu.be/4TT721DCClw (CEO George Drazenovic Interview #1)
https://youtu.be/stA-Qj9DgNM (CEO George Drazenovic Interview #2)
As recommended by the Company’s recently completed technical report prepared in accordance with National Instrument 43-101, the work program is moving forward with further definition and in-fill drilling of the Florin Gold Project to both expand the inferred mineral resource and increase the confidence level in the grade distribution.1 This includes step out drilling to extend the depth of the inferred resource pit shell, thus bringing additional mineralization into the inferred resource, and initial drilling of other targets on the Florin Gold Project. A soil geochemical survey was recently completed to fill in unsampled areas of the Florin Gold Project and assist in developing targets for the next phase of the drill program, expected in summer 2022.
George Drazenovic, CEO, St. James Gold, who recently visited the property stated, “Drilling on our Florin Gold Project in the Yukon is proceeding well. Drilling on the western and eastern extensions along strike of the inferred resource is progressing nicely, and we continue to step out in order to expand the known mineralization. Core drill samples are being sent to the assay lab. Results will be released as they become available.
This site visit follows the recently announced closing of a $4,000,000 brokered private placement offering with proceeds designated for exploration on both the Florin Gold Project and Newfoundland properties, and for general corporate purposes.
“While located in the Central Yukon, our site visit confirmed that the Florin Gold Project is easily accessible, including by an all-weather road from the Alaska Highway System,” stated George Drazenovic. “As shown in our site visit video, a permitted 28-man camp is installed at the drilling area on top of the mountain. This includes service to all field work geology, geochemistry, drilling, logging and sampling of cores and shipping of assays. We look forward to building on this season’s exploration program to unlock value for our shareholders.”
About St. James Gold Corp.
St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading symbol “LORD”, in the U.S. Market listed on OTCQB under "LRDJF" and on the Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well-delineated geological theories; integrating all available geological, geochemical, and geophysical datasets; and financing efficient exploration programs. The Company currently holds: (i) an option to acquire a 100-per-cent interest in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.'s Queensway North project; and (ii) an option to acquire a 100-per-cent interest in 28 claims, covering 1,730 acres, in central Newfoundland located adjacent to Marathon Gold's Valentine Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon.
The technical information included in this news release has been prepared, supervised, and approved by Dr. Stewart A Jackson, a Qualified Person under National Instrument 43-101, and technical advisor to the Company.
For more corporate information please visit: http://stjamesgold.com/
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward looking statements in this news release relate to, among other things: completion of the Offering; the timing and size of the Offering; the timing and receipt of approval from the TSXV for the Offering; the expected use of the net proceeds of the Offering and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements, and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results.
New factors emerge from time to time, and it is not possible for the Company to consider all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1 2.47-million-ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off).
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