Japan Gold Expands the Prospective Corridor at the Ohra-Takamine Project with the Acceptance of New Prospecting Rights Applications
TSX VENTURE: JG
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2018) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce that six additional prospecting rights applications at the Ohra-Takamine Project in the Southern Kyushu Epithermal Gold Province, Japan, have been accepted by the Japanese Ministry of Economy, Trade and Industry (METI).
The six new applications total 2,024 hectares and add to the existing area of granted prospecting rights, (1,681 hectares) at the Ohra-Takamine Project. The project covers historic gold-silver mines in the highly gold endowed Hokusatsu-Kushikino mining district, in the Southern Kyushu Epithermal Gold Province. Refer to Figure 1 which shows the Companies projects in relation to the other major mines in the district.
In excess of 10 million ounces of gold has been produced from high-grade epithermal deposits in 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 Okuchi mine with 714,000 ounces at 13.6 g/t Au2,3.
John Proust, Chairman and CEO of Japan Gold, commented, "With these new applications the Ohra-Takamine project now covers a prospective 9km long corridor comprising historic mines, and coincident soil anomalism and clay alteration. Proximity to the world class Hishikari mine along with other major historic gold production in the District adds significantly to prospectivity of this project."
During field investigations earlier in 2018, Company geologists noted clay alteration in areas of recessed topography along strike extensions to the Ohra, Takamine and Urushi historic mine corridor. These northeast and southwest extensions are supported by anomalous trace element geochemistry from previous government soil sampling and have limited drill testing. Contiguous applications were submitted to cover these extensions and include the historic Aira-Yamada mine 3 kilometres to the east of the Ohra mine and the historic Matsuno mine 4 kilometres to the southwest of the Urushi mine. Refer to Figure 2 which shows historic mine locations, MMAJ drill holes and soil sample results on simplified geology. The Matsuno mine is reported to have produced nearly 1.5 million tons of ore at average grades of 7 g/t gold and 26 g/t silver between 1936-404.The Company is in the process of preparing a scout drilling program to test extensions to the historically mined veins and plans to undertake the program in 2019, (refer to the Company's news release dated September the 12th, 2018) (Click Here).
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 Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.
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.