Vancouver, British Columbia--(Newsfile Corp. - November 18, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (the "Company") is pleased to provide operational updates on ongoing drilling and geophysical programs at the Ikutahara Project in Hokkaido and the Ohra-Takamine Project in Kyushu.
Ikutahara Project: Kitano-o Prospect Drilling and Geophysical Programs
The Phase 1, six-drill hole program which commenced in late July has completed three holes, while two holes are ongoing and a final hole will be completed in December. In addition to drilling at the Kitano-o prospect, detailed gravity and geophysical surveys including controlled source audio-magnetotellurics (CSAMT) have been completed.
The Kitano-o prospect gravity data has delineated the location of a series of major structures including the graben margin on the eastern edge of the prospect. Several major east-west and northeast oriented gravity gradients are indicated which parallel and or mimic known mineralized trends. These gravity gradients may indicate faults or offsets in the underlying basement and are inferred to be related to plumbing of the rhyolite domes and feeder structures to the epithermal vein system at the Kitano-o prospect. [See Figures 1 and 2 for locations of the Ikutahara Project and Kitano-o prospect.]
CSAMT data collected at the Kitano-o prospect has further refined drill targeting by mapping resistive and conductive features coincident with known gravity structures and defined potential new structures. Resistive features may indicate silicification related to vein systems and rhyolite dome margins which are also prime structural locations for epithermal vein development. The current drill program at the Kitano-o prospect will test some of these structure coincident CSAMT anomalies.
Four Additional Prospects are being Advanced at the Ikutahara Project
The Toge, Asada and Sakinzawa prospects, located in the northern part of the Kitano-o Gold District, have now been covered by a detailed gravity survey and a ridge and spur soil sampling grid over an area of 4.5 by 3 kilometres. These programs cover the northern half of the Kitano-o Gold District and will define areas for more focussed CSAMT surveying in 2020, [Figure 2].
The Ryuo prospect, located in the northwest area of the Ikutahara Project, has detailed gravity, CSAMT, and soil sampling surveys underway that will be completed by mid-December, [Figure 2]. The Ryuo prospect is scheduled to be drilled in the first half of 2020. This drill program will utilize the new data to refine drill targets.
Ohra-Takamine Project Drilling and Geophysical Programs
At the Ohra-Takamine Project in the Southern Kyushu Epithermal Gold Province, drilling operations commenced in late June. The first drill hole, located to test under the historic Ohra mine workings, has been completed. The second hole commenced drilling but was put on standby when a management decision was made to mobilize all Company drilling teams to Hokkaido to complete the drill program at the Kitano-o prospect before the full onset of winter.
The Company has subsequently revised its approach to the Phase 1 drill program at the Ohra-Takamine Project and in early 2020 plans to complete a detailed soil sample grid along with prospect scale gravity and CSAMT over the 3.5-kilometre-long alteration corridor which hosts the historic Ohra, Takamine and Urushi gold mines, [Figure 3]. Following interpretation of data from these programs, drilling will be refined and recommence.
The Company has previously announced that in view of the multiple project generation activities and drilling operations, it plans to release results on the two drill programs at the end of each phase of drilling when final assay results and a thorough understanding of the program phase has been completed. This timing is consistent with better practices and allows the release of reliable and insightful information.
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.
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This news release contains forward-looking statements relating to the Private Placement. 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; receipt and timing of regulatory approvals; new legislation; potential delays or changes in plans; and the Company's ability to execute and implement future plans. These forward-looking statements include completion of the Private Placement and the use of proceeds from that financing. 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.