Vancouver, British Columbia--(Newsfile Corp. - June 26, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to report commencement of Phase 1 scout drilling at the Ohra-Takamine Project in the southern island of Kyushu following approval of its drill program by the Japanese Ministry of Economy, Trade and Industry ("METI").
Ohra-Takamine Phase 1 Drilling Program:
The Phase 1 scout drilling program will consist of an initial 4 drill holes, (~2,100 meters) to commence testing an open-ended, 3.5 km corridor of alteration and epithermal mineralization. The alteration corridor is host to three historic gold mines, the Ohra, Takamine and Urushi Mines that were in production until the government-imposed closure occurred in 1943. Drilling will target extensions and parallel vein shoots below and along strike of shallowly developed mine workings and also further along the alteration corridor (refer to Figure 1). Diamond core-drilling will be carried out from surface by a company-owned PMC 700 drill rig capable of drilling to depths of up to 700 meters.
"We are very pleased to commence the first of our 2019 drilling programs in the Southern Kyushu Epithermal Gold Province, the same province which hosts several other significant historic high-grade gold mines including the currently producing Hishikari Gold Mine, owned by Sumitomo Metal Mining Co. Ltd. We also look forward to shortly announcing commencement of our second 2019 drill program in North Hokkaido, which will be targeting vein zones below the historic Kitano-o Gold Mine at our Ikutahara Project,"John Proust, Chairman and CEO commented.
The initial phase of drilling is expected to continue for approximately three months and results will be released as available.
For more information on the Company's Projects, please visit our website www.japangold.com
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.
For further information please contact:
Chairman & CEO
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 related to future partnerships and the Company's 2019 gold exploration program. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, general economic, market and business conditions; competition for qualified staff; the regulatory process and actions; technical issues; new legislation; potential delays or changes in plans; working in a new political jurisdiction; results of exploration; the timing and granting of prospecting rights; the Company's ability to execute and implement future plans, arrange or conclude a joint-venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
Production figures on Figure 1 referenced from:
1) Michitoshi, Miyahisa, 1967: Report of gold deposits survey in Takamine/Ohra district, Kagoshima prefecture, Association of Kagoshima Prefecture mineral resources development promotion.
2) Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.