Japan Gold Granted Prospecting Rights at its Tobaru Project in the Southern Kyushu Epithermal Gold Province, Japan
TSX VENTURE: JG
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2018) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (“Japan Gold” or the “Company”) is pleased to announce that its four prospecting rights applications over the Tobaru Project in the Southern Kyushu Epithermal Gold Province, Japan, have been converted to Prospecting Rights by the Japanese Ministry of Economy, Trade and Industry (METI).
The Tobaru Project totals 1,347 hectares covering a large alteration zone adjacent and along strike to the Fuke epithermal gold mine (106,000 ounces gold produced2) in the highly gold endowed Hokusatsu-Kushikino mining district, in the Southern Kyushu Epithermal Gold Province.
In excess of 10 million ounces of gold has been produced from high-grade epithermal deposits of this province, refer to Figure 1 which shows the northern portion of the district, project locations and significant mines. Notable producers within the district include: the Hishikari mine with 7.4 million ounces of gold produced to date at average grades of 30-40 g/t Au1; Kushikino mine, 1.8 million ounces at 6.7 g/t Au; Yamagano mine, 910,000 ounces at 17.4 g/t Au; and the Ohkuchi mine with 714,000 ounces at 13.6 g/t Au2,3.
Granting of Prospecting Rights authorizes the Company to commence more advanced exploration methods including drilling.
The Tobaru Project is located in the northern part of the Hokusatsu-Kushikino mining district. Significant gold producers nearby include the Fuke and Okuchi mines located respectively 0.5 and 4 kilometers west and south of the project, Figure 1. No historic production is recorded at Tobaru but the project applications enclose a large area of alteration hosted in andesite volcanics. A zoned area of alteration mapped by the Company extends over a 2,000 by 1,000 meter area and is characterized by residual or vuggy quartz in four elliptical zones up to 300 x 150 meters in diameter, enclosed by ammonium clay minerals and illite, localised advanced argillic alteration assemblages, and networks of quartz – iron oxide stockwork veinlets, refer to Figure 2 which shows the Tobaru project simplified geology and alteration in relation to the Fuke mine veins.
First pass sampling work by the Company has shown elevated trace element geochemistry co-incident with the mapped zoned alteration. Descriptions of veining in the Fuke mine suggest both the upper and deeper levels of an epithermal system are present and probably superimposed, as quartz-adularia-carbonate and quartz-base metal sulphide veins are noted, high-grade gold shoots are also reported from the mine2, 5. The intensity and frequency of fracturing observed throughout the Tobaru alteration zone coupled with a 150 to 200 meter increase in elevation into the project area are positive factors for a potential extension of the Fuke vein system into the project area. Tobaru’s position in the Hokusatsu-Kushikino mining district and its proximity to other mines including Fuke, Okuchi and Hishikari make it worthy of further exploration. The Company plans more detailed sampling and mapping and if warranted, geophysical methods in 2019 to identify potential drill targets.
John Proust, Chairman and CEO of Japan Gold, commented, “We are pleased to see the granting of these prospecting licenses in this world class gold district of southern Japan, and consider this another timely advancement to the Company’s exploration portfolio.”
On behalf of the Board of Japan Gold Corp.
Chairman & CEO
About Japan Gold Corp.
Japan Gold Contact
Chairman & CEO
1 Sumitomo Metal Mining Co., LTD. website, production as of end of March 2017.
2 Watanabe, 2005. Late Cenozoic evolution of epithermal gold metallogenic provinces in Kyushu, Japan.
Mineralium Deposita (2005) 40: pp 307-323
3 Garwin et al. 2005. Tectonic setting, Geology, and gold and copper mineralization in the Cenozoic magmatic arcs
of Southeast Asia and the West Pacific. Economic Geology 100th Anniversary Vol. pp 891-930
4 Hamilton, Chris., 1993. Tourmaline- and Pyrophyllite-bearing Hydrothermally altered Volcanic rocks at Tobaru,
Japan, Resources Geology Special Issue, No.14, 115-121
5Muto, N., 1952. The systematic arrangement of veins at Fuke Gold mine, Kagoshima Prefecture. Shigen Chishitsu, pp. 49-53
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. The technical information in this news release has been reviewed by Japan Gold’s President & Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, who is a Qualified Person as defined by National Instrument 43-101. As the Qualified Person, he has supervised the preparation and approved the scientific and technical disclosure in the news 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.