Vancouver, British Columbia--(Newsfile Corp. - August 12, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce acceptance of new prospecting rights applications covering extensions to its Sanru Epithermal-Gold Project by the Japanese Ministry of Economy, Trade and Industry ("METI"). The forty new applications totalling 12,842 hectares cover prospective tertiary geology between the Company's Sanru Project, and Irving Resources Inc's Omu Project, located to the north east (Figure 1).
- 40 new applications totalling 12,842 hectares effectively doubling Japan Gold's Sanru Project in the Omu-Kamikawa graben, northern Hokkaido;
- The Sanru Project now covers a 20 x 16 kilometre under-explored area hosting five historic gold workings, immediately along strike of the region's second largest gold mine, the Sanru Mine (225,000 ounces of gold averaging 7.4 g/t and 1.4 million ounces of silver).
In the Kitami Region of northern Hokkaido, rhyolite geology associated with epithermal-gold mineralization is localized along two major north-south trending grabens. Numerous gold mines hosted within these two grabens were developed in the region up to 1943 including the Konomai Mine, Japan's third largest gold mine which ultimately produced 2.35 million ounces of gold at an average grade of 6.4 g/t and 40 million ounces of silver prior to closure in 1974; and the Sanru Mine, the Kitami Region's second largest gold mine which went on to produce more than 225,000 ounces of gold at an average grade of 7.4 g/t and over 1.4 million ounces of silver between 1925 and 19741.
METI's acceptance of Japan Gold's applications effectively doubles the Company's land holding in the Sanru district of the western Omu-Kamikawa graben. The Sanru Project now covers a 20 by 16 kilometre under-explored area of the Omu-Kamikawa graben between the Sanru Mine in the south and the boundary of Irving Resources' Omu property in the north.
Five historic gold workings are located within the Company's Sanru Project along strike of the same structure which hosts the Sanru Mine and prospective parallel structures. Regional stream sediment sampling was carried out by the geological division of the Japanese Ministry of International Trade and Industry ("MITI") in the late 1990's identifying additional anomalous drainages in the Company's Sanru Project area. No detailed follow-up mapping or drilling was undertaken on these anomalies. Based on literature and research, no exploration programs were carried out in the new applications area.
To advance the Project, the Company plans to commence regional multi-element stream sediment and BLEG (Bulk Leach Extractable Gold) geochemical surveys, geological mapping and rock-chip sampling, ground follow-up of anomalies and an investigation of other recorded historic workings.
1 Watanabe, 1995. Genesis of Vein-hosting Fractures in the Kitami Region, Hokkaido, Japan. Resource Geology, v46(3), pp 151-166, 1996.
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.