Vancouver, British Columbia--(Newsfile Corp. - February 26, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to provide exploration activities guidance for the first half of 2019.
The Company plans to advance five gold projects: Ikutahara, Aibetsu, Hakuryu and Sanru in Hokkaido, and the Ohra-Takamine in Kyushu. In addition, the Japan Gold - First Quantum Minerals Ltd. Strategic Alliance will complete its evaluation of four lithocap projects, Eboshi, Kobui, Minamikayabe and Kamitsue by June 30, 2019.
Work programs will include:
- Drill permit applications for 11,400 meters currently being finalized
- Phase 1 Drilling Programs:
- 3,000 m of diamond core drilling on the Ikutahara Project commencing May 2019
- 2,100 m of diamond core drilling on the Ohra-Takamine Project commencing June 2019
- Detailed mapping and sampling at Aibetsu Project to refine scout drilling targets in the Historic Tokusei Mine area
- Reconnaissance to detailed follow up mapping and sampling at its Hakuryu and Sanru Projects
- Follow up geophysical surveys to aid in drill targeting of porphyry mineralization based on the results from the First Quantum Minerals Ltd. ("FQML") Strategic Alliance on the Eboshi, Minamikyabe, Kobui and Kamitsue Lithocap Projects
Refer to Figures 1, 2, and 3 for project locations and to our website www.japangold.com for more detailed information on each project.
Chairman and CEO, John Proust, stated, "We are pleased to embark on an aggressive 2019 exploration program, a large component of which will be drilling for high-grade gold mineralization on two highly ranked targets in northern Hokkaido and southern Kyushu. We also look forward to developing new drill targets at Aibetsu, Hakuryu and Sanru. All of these opportunities are particularly unique based on a lack of modern-exploration carried out in these historic mining districts."
"We have clearly demonstrated the prospectivity of Japan, as validated by our Strategic Alliance and Strategic Investors, and we are now focused on making discoveries", Proust added.
Low-sulphidation Epithermal Gold Projects - Work Program Details:
Ikutahara Project: a 3,000 m Phase 1 scout drilling program at the Kitano-o Prospect will target vein structures along the central and western portions of the 3 km long east-west trending Kitano-o Mine workings. A series of drill holes are planned to test across the inferred vein corridor, where numerous narrow gold-bearing quartz veins are recorded immediately below surface-workings and cutting into the sinter horizon / paleo-surface. Drilling will seek to target broader vein structures which conventionally develop at depths of greater than 100 m below the sinter / paleo-surface of epithermal systems.
Permitting for the Kitano-o scout drill program is well advanced and the Company is planning to start drill pad preparation in April and commence drilling in May. Permitting for the Ryuo Prospect scout drilling will also be advanced in the first half of 2019.
Ohra-Takamine Project: a 2,100 m Phase 1 scout drilling program is planned to test along the 3.5 km of strike which hosts the historic Ohra, Takamine and Urushi Gold Mines. This series of drill holes will test for extensions and vein shoots adjacent to and along strike of the shallowly developed mine workings. The permitting process is advancing rapidly and the Company plans to have a drill rig operating at Ohra-Takamine in June.
Aibetsu Project: extensive infill soil sampling and grid mapping by the Company in 2017 highlighted strong anomalies along strike of the historic Tokusei Mine. The Company will investigate these anomalies in more detail and identify suitable scout drilling locations. The Company will also review anomalies identified to the south of Tokusei Mine and regional stream geochemical anomalies generated by the Metal Mining Agency of Japan ("MMAJ") on the eastern side of the project.
Hakuryu Project: surface exploration programs planned at the Hakuryu Project for 2019 include mapping and geochemical surface sampling to identify extensions to the previously mined Konomai Mine lodes and the identification of alteration and geochemical footprints that may indicate the presence of concealed mineralization beneath broad areas of silica-clay alteration.
Sanru Project: an initial program is planned for the Sanru Project consisting of regional stream sediment, Bulk Leach Extractable Gold ("BLEG") sampling and rock-chip sampling followed by checking of anomalies and an investigation of other recorded historic workings, to identify drill targets for the following year.
Lithocap Projects -Work Program Details:
Eboshi, Kobui, Minamikayabe, Kamitsue Projects: following the announcement of the FQML Strategic Alliance, the Company rapidly deployed the Japan Gold field teams to commence work on each of the four Lithocap Projects consisting of field work, mapping, soil and rock sampling. These programs were largely completed by January 2019 and results are currently being compiled and reviewed. Decisions will be made shortly by First Quantum Minerals Ltd. on which projects will require geophysical survey methods to better define porphyry targets for drill testing.
The Strategic Alliance evaluation of the four Lithocap Projects must be completed by June 30, 2019.
The technical information in this news release has been reviewed and approved by Japan Gold's President & Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Japan Gold Corp.
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration in Japan. The Company holds 17 Projects, for a combined area of 71,529 hectares (715.29 square kilometres), across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Projects cover areas with known gold occurrences and a history of mining, and are prospective for both high-grade epithermal gold mineralization and gold-bearing lithocaps which could indicate the presence of porphyry mineralization. Japan Gold's leadership team has decades of resource industry and business experience, and the Company has recruited geologists and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at email@example.com.
For further information please contact:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. No joint ventures are currently in hand and there is no guarantee that the Company will conclude a joint-venture.
Figure 1: Japan Gold Projects throughout Japan.
To view an enhanced version of Figure 1, please visit:
Figure 2: Ikutahara Project in Hokkaido.
To view an enhanced version of Figure 2, please visit:
Figure 3: Ohra-Takamine Project in the Southern Kyushu Epithermal Gold Province.
To view an enhanced version of Figure 3, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43045