Vancouver, British Columbia--(Newsfile Corp. - July 25, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to report commencement of drilling program at the Kitano-o prospect located within its Ikutahara Project in north Hokkaido.
- Six diamond drill holes totaling approximately 3,000 metres will test the western and central portions of the three kilometre long mineralized corridor
- Drilling is targeting epithermal gold-silver veins beneath the historic Kitano-o Mine surface workings
Kitano-o Gold District
The Kitano-o prospect is located within the Kitano-o Gold District, a 7 x 3 kilometre area which incorporates six old mines and workings including Kitano, Ikutahara, Showa, Sakinzawa, Toge and Asada (Figure 1).
In excess of 96,000 ounces of gold at a grade of 5.9 g/t1 was mined at Kitano-o prior to 1943. Gold was won largely from shallow open-pits in gold-bearing eluvium, and from selective hard-rock mining of narrow sub-sinter quartz veins and stockworks.
The Kitano-o prospect comprises a large (3 kilometre x 500 metre) epithermal hot-spring system defined by silica-sinter outcrops, widespread sinter boulder accumulations, gold bearing sub-sinter quartz veining, and an extensive steam-heated (or acid-leached) alteration zone. Silica-sinter and steam-heated alteration develop at the water table level and are a surface manifestation of epithermal gold-silver vein systems developing at depth. At Kitano-o, the presence of outcropping silica-sinter implies the whole epithermal system is preserved and numerous mineralized veins mined directly under the sinter indicate a significant amount of gold has leaked through from boiling-zones at depth.
Kitano-o Phase 1 Drill Program
The Kitano-o Phase 1 drill program totaling 3,000 metres of diamond drilling, will target the well-defined vein corridor, comprising multiple sub-parallel veins, along the western and central portions of the east-west trending Kitano-o workings. Six drill holes will target high-grade quartz veins which often occur in these systems from 150 metres to 250 metres beneath the paleo-water table (sinter level), and downward towards the lower basement contact (Figure 2).
Additional surface work at Kitano-o is currently focused on refining new drill targets at east Kitano-o, and the Toge and Asada prospects.
John Proust, Chairman and CEO of Japan Gold, stated, "The start of our second drill program this year is another important milestone for the Company. Simultaneous drill programs in Hokkaido and Kyushu, along with ongoing surface exploration programs, demonstrate the Japan Gold team's expertise and operational efficiency. The Company is now well positioned to execute its 2019 programs."
1 Garwin, Hall, Watanabe, (2005). Tectonic Setting, Geology, and Gold and Copper Mineralization in Cenozoic Magmatic Arcs of Southeast Asia and the West Pacific. Economic Geology 100th Anniversary Volume, pp. 891-930.
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.
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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. 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.