St. James Gold reports initial results from 2021 drilling in Yukon

“We are pleased that this first batch of assay results from the late 2021 diamond drill campaign show encouraging gold values down the length of each hole, including some encouraging intercepts in areas previously modelled as waste rock areas. These mineralized intercepts are expected to lower the current conceptual strip ratio at the Florin gold project,” said George Drazenovic, CEO of St. James Gold.

The step-out drilling program was designed to increase the pit-constrained mineral resources on the property, currently estimated at 171 million inferred tonnes grading 0.45 g/t gold, for 2.47 million oz. of contained gold.

The inferred resource is located within a large prospective intrusive host rock that through geophysical interpretation covers a large area of the Florin property. The prospective target area inclusive of the inferred resource measures 5.0 by 2.5 km, and extends to in excess of 500 metres in depth. Geophysical data indicates the intrusive rock forms the core of the dome, suggesting many cubic kilometres of prospective host rock, according to St. James.

To date, less than 1% of the project land package has been drill tested. Geochemical and geophysical data suggests that gold mineralization remains open in all directions.

The property is located in the Mayo mining district of Yukon, about 29 km west of Victoria Gold’s producing Eagle gold mine.