St. James Gold Corp. announced that it has started building a camp and moved drill equipment and crew to the road-accessible Florin Gold Project which is host to the 2.47 million ounces Florin Inferred Resource, situated within the Florin Project area, 60 km northwest of Mayo County, Yukon Territory, Canada.
Location of Florin Gold Project. Image Credit: St. James Gold Corp.
The 16-person crew will be in charge of an 8,500-m maximum diamond drilling program. The Jethro Fault, a northwest trending structure, is the location of the 2.47 million ounces inferred gold resource, which is housed in 170,993,000 tons grading 0.45 g/t with a cut-off of 0.30 g/t. The planned drilling campaign’s highlights include:
- Crew mobilization and the initiation of camp construction
- Priority step-out drill targets close to the existing resource are also planned
- A drill program between 7,000 and 8,500 m is planned to increase the current inferred gold resource
- A 5 km structure has had about 900 m of drilling tested so far
- 2021 soil geochemistry results will help better define 2022 drill targets
- The interpretation of the 2021 LiDAR survey will help better define structural targets for the 2022 drill program
The current inferred resource is centered on drilling roughly 900 m along the 5 km-long fault’s strike, which is also the location of three additional, significant geochemical anomalies. The program is designed to drill up to 30 priority targets in two target areas to a depth of 400 m:
1) In the East Zone, close to the inferred resource, in the vicinity of the Treadwell Structure, where high-grade gold results from soil assays, historical drill intercepts, and rock chip sampling assays from St. James’ 2021 field program were obtained.
2) Nearby a historic drill hole, ICE10-028, whose assays showed 526 m grading 0.75 g/t Au, and in the predicted, westerly on-strike extension of the existing inferred resource.
The Company traced the Jethro Fault for more than 5 km, of which only 1.2 km have been partially drill tested, displaying the current inferred resource sitting on an 875 m section of the Fault. Both of these priority target areas support earlier exploration efforts.
We are launching the 2022 drill campaign to prioritize the most prospective areas as informed by an accumulation of data, including geochemical work, geophysics, and from previous exploration seasons.
George Drazenovic, CEO, St. James Gold Corp.
George Drazenovic adds, “Geological mapping, sampling, drilling and geophysical work completed in prior seasons indicate expansion potential of the resource to the northwest and southeast on the Jethro fault. Our key objective for this season is to extend the footprint of the inferred resource.”