Vancouver, British Columbia, July 07, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce the results from interpretation of its 2021 season, Light Detection and Ranging (“LiDAR”) survey at the Florin Project located 60 km northwest of Mayo County, Yukon Territory, Canada which is host to the Florin Inferred Gold Resource1.

Highlights of the LiDAR survey interpretation

  • Seven new areas of high prospectivity within the Florin Gold Property boundaries have been identified for follow-up exploration
  • WSW–ENE and NNW–SSE structural controls on gold-in-soil anomalies will guide diamond drilling in the immediate area of the Florin Gold Inferred Resource.
  • NW and NNE lineament populations indicate that the mineralized gold hosting intrusion may be partially down-dropped and preserved to the northwest of the Florin Inferred Resource.

The survey covered the entire, 22,000-acre (89 km2) area of the original Florin Project claims that surround the Florin Inferred Resource employing LiDAR technology to discern what are the predominant, structural trends responsible for gold mineralized emplacement of the resource and to identify other areas within the mineral tenure claims group that display similar structural complexity as prospective sites for further targeted exploration.

Figure 1: Coincidence of interpreted structures with the Florin Intrusion outcrop and Florin Inferred Resource

Structures around the Florin Inferred Resource

Structures trending NW – SE and NNE – SSW were interpreted from the survey which, along with the mapped trace of the Florin Intrusion and the trace of the Florin Inferred Resource were overlain on a digital elevation model in and around the resource area (Figure 1). The interpreted structures show a strong correlation with the surface trace of the Florin intrusion. This correlation also suggests that the area to the northwest of the resource may have been down-dropped, thereby presenting a deeper target for future drill testing.

Structures trending WSW – ENE and NNW – SSE were also interpreted from the LiDAR survey which were overlain on the contoured in soil gold geochemistry assays in and around the resource area (Figure 2). The interpreted structures show a strong correlation with higher grade zones of gold-in-soil anomalism and will guide drilling to focusing on expansion of the Florin Inferred Resource. The interpretation also emphasizes a broad area east of the resource – the Treadwell Zone – which will provide a focus for the initial holes for the 2022 drill campaign.

Figure 2: Coincidence of interpreted structures with contoured gold-in-soil geochemistry around the Florin Inferred Resource

Structures in the wider Florin claim area
Analysis of interpreted structures in the immediate vicinity of the Florin Inferred Resource has led to identification of seven further, kilometric scale domains which display broadly similar density and orientation of structures. Historic, stream sediment sample and rock chip sample assay results will help prioritize the order in which these areas are prospected (Figure 3).

Figure 3: High priority prospects with structural signatures similar to the Florin Inferred Resource area

George Drazenovic, CEO of St. James Gold comments, “Interpretation of the 2021 LiDAR survey has yielded seven new, highly prospective areas for exploration that have the same structural signature as the area containing the Florin Inferred Resource and will provide a robust stimulus for heli-supported prospecting during the 2022 field season and beyond. Further, there is clear indication of which structures may control the morphology of the Florin Intrusion and the main controls on gold mineralization. This has been a useful investment for St James as we advance the Florin Project towards am updated and upgraded resource statement in the coming months.”

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.

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) 100-per-cent stake 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) a 100-per-cent stake in 9 claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 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 Territory, Canada.

For more corporate information please visit:

St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152

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”). 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 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.


1 The Florin Gold Project contains an inferred resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30g/t, at a $1,650 gold price. For additional information, see the Technical Report prepared in accordance with National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson Mining Districts, Yukon Territory, by Ronald G Simpson, P.Geo. of GeoSim Services Inc., dated April 6, 2021, a copy of with is available under the Company’s SEDAR profile.


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