VANCOUVER, BC, July 21, 2021 (GLOBE NEWSWIRE) – St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St. James Gold Corp. (“Company) is pleased to announce that exploration is underway at the recently selected Grub Line gold estate in Newfoundland, Canada (“Grub line properties”) At a potential site along the Gander River Ultramafic Belt with the project operator, local exploration services company Planet X Exploration Services Ltd.
The Grub Line property consists of 29 claims stacked on a map covering 725 Hectare. An initial exploration program is currently underway that includes surveying the area and verifying facts on the basis of historic prospects located within the property.
The Grub Line attribute includes a Gander River complex rock pack. See the photos below. This pack includes felsic volcanoes, mafic volcanoes, ultramafic rocks and gabbro intrusions. Intense hydrothermal activity altered the rock and dramatic changes in sericite, calcite, chlorite & talc-carbonate were observed in the host rock and quartz vein throughout the site. There may be rich sources of sulfide minerals in these geologic environments. Listwanites or carbonated ultramafics commonly occurring in gander river rock complexes have been identified as potentially containing gold.
The spatial relationship of gold mineralization to carbonated ultramafic/listwanites fault zones suggests a comparison with the Lode Mother Belt in California. Similar listing yellow quartz veins have formed economic deposits in the metamorphic belts in California and the Juneau Gold belt in Alaska. Program manager, Planet X Exploration Services Ltd. are using a joint deposit model where ultramafic rock carbonization and the development of yellow veins in and above the repulsion, inversion and normal faults serve as a guide for the discovery along Grub Line Properties.
Watch .’s full video EASYustin Keats, grandson of
Fred Keats, founder New Found Gold Corp’s Keats area explore the Grub . line: https://youtu.be/y7cu1zJYkjc
The initial exploration program at Grub Line Property includes historic prospecting of the area and ground survey within the 725 hectare project area. Ownership of the Grub Road is believed to be an important aspect of the major structural corridors associated with both the Gander Gold belt and the Newfound Gold Corporation – the “Keats zone” hosting the high-grade gold mineralization of the bonanza. Own Grub Line has some good mineral areas and is located only 8 km east of Just found
Of Gold Corp. “Discover Keats”, and 3 km west of the Town of Gander, on the island of Newfoundland, Canada.
The following quote is from the technical report of Christopher Baldys, P.Eng and Dean Fraser, P.Geo. for the Grun Series Property April 1, 2021 mentioning the importance of quarry sites to the property.
|“Generally, the block of claims occurs in an area of fairly gentle topography with locally sparse to moderate tree cover. Several shoots were noted during the visit to the Property as well as local abundance until covered in places. Exploring the requirements will likely require some consultation with aggregators working in the area as well as liaising with cabin owners depending on the focus area of the work program. “|
George Drazenovic, CEO, comment “The active quarries on our claim block are important because they give us a direct view of the foundation. The images taken by Wesley Keats for Planet X Exploration Services Ltd. in this first work program illustrate the background layer. Our report NI 43-101 on this property documented this occurrence with a surprising degree of variability.
Our contractors Planet X Exploration Services Ltd. provides a valuable connection in the local community with both aggregate companies and cabin owners. Tests are pending on our first samples, including from the rocks pictured in this news release. I look forward to providing geological information from a detailed exploration program at our Grub Road Property soon. Information will also be available soon on our Quinn Lake gold assets.”
To view the full image and video gallery of the Grub Line estate of St. James Gold Corp by Planet X Exploration Services Ltd., please visit:
Dr. Stewart Jackson, P.Geo., Senior Technical Advisor Geologist, and National Instrument 43-101 Qualified Person, reviewed. and approves that the scientific and technical information presented herein is accurate and has approved this bulletin.
Note: Data is reported herein historic in nature and St. James Gold Corp. was based on information in assessment reports submitted to the NL government and from information in MODS (Mineral Occurrence Data System) published by the Department of Natural Resources of Newfoundland and Labrador.
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 US Markets listed on OTCQB under “LRDJF” and on the Frankfurt Stock Exchange with “BVU3”. St. James Gold focuses on creating shareholder value through the discovery and development of economic mineral deposits by: acquiring potential exploration projects with well-described geological theories ; integrate all available geological, geochemical and geophysical datasets; and fund effective exploration programs. The Company currently holds: (i) an option to obtain 100% interest in 29 claims, on 1,791 acres, in the Gander gold district in north central Newfoundland adjacent to the Queensway North project. of New Found Gold Corp. ; and (ii) an option to obtain 100% interest in 28 claims, on 1,730 acres, in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property; and (iii) an option to obtain an interest of up to 85% in the Florin Gold Project with current resources of 2.47 million inferred Ounces (Ron Simpson NI 43-101), covering nearly 22,000 acres adjacent in the historic Tintina gold belt in the Yukon.
For more company information, please visit: http://stjamesgold.com/
St. James Gold Corp.
For more details, please contact:
George Drazenovic, Managing director
Tel: 1 (800) 278-2152
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”) with regard to current expectations and views. by St James Gold about future events. The forward-looking statements in this news release relate, among other things: the upcoming 2021 drilling and exploration program at the Quinn Lake and Grub Line properties, the field work planned ant will occur on Quinn Lake and Grub Line properties, structural element of Grub Line Properties; economic deposit potential at Grub Line Property, and any statements that represent or involve discussions of expectations, beliefs, plans, goals, assumptions, or future events or performance. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will have results”, “to be expected”, “to expect”, “will continue”, “anticipated”, “anticipated”, “believes”, “estimated”, “intended”, “plan”, “forecast”, “forecast”, “tactical” strategy”, “goal” and “prospect”. Forward-looking statements are not historical facts and may include estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those reported. expressed in such forward-looking statements. No assurance can be given that these expectations will be substantiated and such forward-looking statements included in this news release should not be relied upon unduly. These statements refer only to the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond St James Gold’s control, which could cause the results and Facts are materially different from those 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, initial results from any field work and drilling conducted, and other factors, some of which are stated in the Company’s publicly archived documents according to the Company’s records on the Electronic Document Analysis System, and Retrieved at www.sedar.com. St James Gold is under no obligation to update or amend any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. bridge. New elements appear over time, and St. James Gold cannot predict all of them, or assess the impact of each of them, or the extent to which any factor, or combination of factors, can cause results to differ materially from what is included in any forward-looking statements. Any forward-looking statements contained in this newsletter are substantiated in their entirety by this warning statement.
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https://financialpost.com/globe-newswire/st-james-gold-corp-tsx-v-lord-reports-on-new-gold-exploration-at-grub-line-property-newfoundland-canada | St. James Gold Corp. (TSX-V: LORD) Report on new gold exploration at Grub Line Property, Newfoundland, Canada