Vancouver, British Columbia--(Newsfile Corp. - July 8, 2020) - Japan Gold Corp (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or "the Company") is pleased to provide a progress report on its activities on its Barrick Alliance projects within the Hokusatsu Region of the Southern Kyushu Epithermal Gold Province.
- The Hokusatsu Region, covering the northern half of Southern Kyushu Epithermal Gold Province is Japans' largest gold producing region with recorded production of over 11 million ounces
- Japan Gold has applications and prospecting rights covering 93,290 hectares or approximately 77% of prospective and explorable ground within the region
- The Barrick Alliance has completed BLEG and rock chip sampling over 8 of the 14 southern Kyushu projects, covering a 32,768-hectare area (328 square kilometers)
- The Barrick Alliance has commenced regional scale geophysical-gravity surveys
Hokusatsu Region, Southern Kyushu Epithermal Gold Province
The Hokusatsu Region lies within the northern half of the Southern Kyushu Epithermal Gold Province and covers an area of approximately 120,000 hectares. The Hokusatsu Region is Japans' largest gold producer with low-sulphidation epithermal deposits recording a combined production of over 11 million ounces1,2,3,4. Within the Hokusatsu Region the Company currently has applications and prospecting rights covering 93,290 hectares or approximately 77% of prospective, explorable ground (Figure 1).
Gold mineralization in the Hokusatsu Region is localised along an 80-kilometer long, arcuate, northeast to northerly trending volcanic front west of the Kagoshima graben, and bound by the Kushikino mine in the west and the Fuke mine in the north (Figure 1). Low-sulphidation epithermal deposits in the region are characterised by several distinct geophysical features which include Bouguer gravity highs and gradients, subdued magnetics and elevated potassium radiometric counts1 (Figure 2). The Company has utilised these key features in combination with suitable aged host rock geology to identify and acquire its highly prospective project portfolio in southern Kyushu.
The Barrick Alliance with Japan Gold was formed on February 28, 2020. As part of the fully funded evaluation of 28 projects, regional work programs have commenced on the 14 Barrick Alliance projects in the Hokusatsu Region. Regional work programs involving the collection of bulk leach extractable gold (BLEG) and rock chip samples have been completed on 8 projects to date, covering a combined area of 33,506-hectares. Projects already covered by BLEG and rock sampling include Tobaru, Gumyo, Kurino, Onoyama, Onoyama-Yamagano extension, Mizobe-Onoyama extension, Mizobe and the Mizobe 1st Extension (Figure 3). From this group of projects, a total of 426 BLEG samples and 379 rock samples have been collected and are being dispatched for analysis to ALS laboratories in Perth and Vancouver.
Another component of the regional programs is the collection of semi-detailed geophysical-gravity data which has already commenced in southern Kyushu. Increasing the detail of gravity data in the district will assist in mapping of regional structures and basement doming known to be intimately associated with gold mineralization in the region. Regional stream-geochemical and geophysical-gravity surveying is aimed at defining new areas of mineralization, poorly exposed or partially covered by younger volcanic cover in a region with rich historic and current production, including Sumitomo Metal Mining's Hishikari gold mine which has produced in excess of 7.9 million ounces of gold at grades between 30 to 40 g/t2.
The Barrick Alliance regional BLEG and rock chip sampling program in Hokkaido will commence late July in order to capitalise on the summer field season. The regional sampling program will resume in southern Kyushu in the latter part of the year once the Hokkaido regional work is completed.
1 Feebrey et.al., (1998) Geophysical Expression of Low Sulphidation Epithermal Au-Ag Deposits and Exploration Implications- Examples from the Hokusatsu Region of SW Kyushu, Japan. Resource Geology, vol. 48, no. 2, pp 75-86, 1998.
2 Sumitomo Metal Mining Co., LTD. website, production as of end of March 2020.
3 Watanabe Y, 2005. Late Cenozoic evolution of epithermal gold metallogenic provinces in Kyushu, Japan. Mineralium Deposita (2005) 40: pp 307-323
4 Garwin, S.G. et al. 2005. Tectonic setting, Geology, and gold and copper mineralization in the Cenozoic magmatic arcs of Southeast Asia and the West Pacific. Economic Geology 100th Anniversary Vol. pp 891-930
The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration and Country Manager, Andrew Rowe, BAppSc, 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
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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 2020 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 laws.