Japan Gold Granted Prospecting Rights at its Kamitsue Project on the Island of Kyushu, Japan
TSX VENTURE: JG
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2018) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce that its twelve prospecting rights applications over the Kamitsue Project on the Island of Kyushu, Japan, have been converted to Prospecting Rights by the Japanese Ministry of Economy, Trade and Industry (METI).
The Kamitsue Project is located within the Northern Kyushu Epithermal Gold Province on the highly gold endowed Island of Kyushu in southern Japan. The Kamitsue project covering an area of 4,069 hectares is located 10 kilometers southeast of the Taio mine, northern Kyushu's largest gold mine which produced approximately 1.2 million ounces of gold at an average grade of 6.3 g/t and operated between 1903-731,2, refer to Figure 1 which shows the Kamitsue project in relation to Kyushu's mineral provinces and major gold mines.
The Kamitsue project is included in the recently announced 'binding letter agreement' with First Quantum Minerals Ltd. (FQML), to explore four of the Company's prospective lithocap projects, refer to the Company's news release dated 23rd October, 2018 for more information on this strategic alliance. During reconnaissance work in early 2018 the Company identified a large area of advanced argillic alteration adjacent to historically prospected gold bearing mesothermal-style quartz veins. The presence of an advanced-argillic lithocap represents exploration potential for porphyry copper-gold style mineralization. Company and FQML geologists are currently on the ground at Kamitsue undertaking geological mapping and sampling as part of this joint initiative.
Granting of Prospecting Rights authorizes the Company to commence more advanced exploration methods including drilling.
John Proust, Chairman and CEO of Japan Gold commented, "All three of the Company's project applications in Kyushu have now been converted to prospecting rights, the strategic alliance with FQML will allow the company to quickly develop and drill porphyry targets at Kamitsue, while separately developing drill targets on its two Kyushu epithermal gold projects, Ohra-Takamine and Tobaru."
On behalf of the Board of Japan Gold Corp.
Chairman & CEO
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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.
1 Shikazono, N. 1986, Ag/Au Total Production Ratio and Au-Ag Minerals from Vein-Type and Disseminated-Type Deposits in Japan, Mining Geology, 36(6), p 411 - 424
2 Garwin, S., et al. 2005. Tectonic Setting, Geology, and Gold and Copper Mineralisation in the Cenozoic Magmatic Arcs of Southeast Asia and the West Pacific, Appendix 1, Economic Geology 100th Anniversary Volume, p 891-930
Izawa , E. and Watanabe, K. 2001. Overview of Epithermal Gold Mineralisation in Kyushu, Japan, Society of Economic Geologists Guidebook Series, v34, p 11-15
Watanabe, Y 2005. Late Cenozoic Evolution of Epithermal Gold Metallogenic Provinces in Kyushu, Japan, Mineralium Deposits (2005) 40, p 307 - 323