St. James Gold's Florin Acquisition Gives Company Access to one of the Largest Undeveloped Pure Gold Resource Projects in the Yukon

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

St. James Gold Corp. LORD LRDJF BVU a Vancouver, B.C.-based company focused on the discovery and development of economic mineral deposits, continues to make huge strides in that area with the option and joint-venture agreement (JV) with Florin Resources Inc. in acquiring a 100% interest in the Florin gold project. 

The JV covers 22,000 contiguous acres in the historic Tintina Gold Belt in the Yukon Territory, Canada.

The Florin gold project contains a 2012 inferred resource of 127.2 million tons grading 0.48 grams per tonne (g/t gold, hosting approximately 2.47 million ounces of contained gold in its 171 million tons grading. 

"We are eager to commence our exploration of what we believe to be one of the largest undeveloped pure-gold resource projects in the Yukon. The inferred resource remains open in all directions and at depth, and in addition, there are several large untested zones,” St. James Gold Corp. CEO George Drazenovic said.  

“The inferred resource represents only a modest portion of the extensive land package, and the compiled geochemical and geophysical data suggest that gold mineralization remains open in all directions."

Highlights of the Florin gold JV for St. James Gold include:  

• The inferred resource estimate is located within a large prospective intrusive host rock that through geophysical interpretation covers a large area of the property. Geophysical data indicates the intrusive rock forms the core of the dome, suggesting many cubic kilometers of prospective host rock.

• Florin is drill-ready, and the permit is valid until March 2026.

• The site hosts excellent infrastructure, road access and a nearby private airstrip. 

• Less than 1% of the significant exploration potential on approximately 22,000 contiguous acres has been mined. Geochemical and geophysical data suggest that a large volume of intrusive host rock remains to be tested laterally and at depth throughout the land package.
• St. James Gold has established a mining infrastructure within the historic Tintina Gold Belt.

Florin, as the operator for the property, holds a Class 3 quartz mining land use permit allowing for an immediate drilling program this summer. A joint technical committee composed of representatives from Florin and St. James Gold will be formed to put in place a work exploration roadmap. 

Because the property hosts an intrusion-related gold deposit, deeper drilling is needed as higher-grade intercepts from drilling lie at hole depths of up to 500 meters. The current depth cutoff for the inferred resource was limited to 300 meters depth from the surface. 

The focus for the drilling exploration program will be on both lateral expansion and step-out drilling from the inferred resource as well as testing for potentially higher-grade areas, particularly at depth and within other target areas with significant geochem expression at the surface.

The reinterpretation of available geological, geochemical and geophysical data prior to an early drilling program is currently underway.  No additional drilling has been conducted since the 2012 report.

St. James Gold Corp. LORD LRDJF BVU also currently holds both an option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland adjacent to New Found Gold Corp.’s Queensway North project, and an option to acquire a 100% interest in 28 claims covering 1,730 acres in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property.

New Found Gold Corp. NFG NFGFF recently announced assay results from an additional four holes drilled at the Keats Zone ("Keats").  “The Company currently holds both an option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland adjacent to New Found Gold Corp.’s Queensway North project, and an option to acquire a 100% interest in 28 claims covering 1,730 acres in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property. " says a rep for St. James Gold’s New Found Gold Corp. 

For more St. James Gold information please visit: http://stjamesgold.com/.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.