Vancouver, British Columbia--(Newsfile Corp. - August 29, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (the "Company") is pleased to announce the acceptance of new prospecting rights applications by the Japanese Ministry of Economy, Trade and Industry ("METI") in the Southern Kyushu Epithermal Gold Province. The new applications include the Mizobe Project, and a second extension to the Ohra-Takamine Project.
Highlights:
- The new Mizobe Project comprises four applications of 1,195 hectares (Figure 1);
- The Ohra-Takamine Project extended by 1,167 hectares to total 4,872 hectares;
- Both projects are located in Southern Kyushu's Epithermal Gold Province which has produced in excess of 11 million ounces of gold from epithermal deposits.
Mizobe Project
The Mizobe Project is located 10 kilometres east of the Ohra-Takamine project, along the western edge of the Kagoshima Graben. Historic mining activities in the project area were focused on antimony (Sb) mineralization located in the north-western part of the application area. Antimony is a typical pathfinder element for epithermal gold mineralization and commonly concentrated in the upper parts of epithermal gold systems.
Government-funded exploration at Mizobe between 1999 and 2001 included geological mapping, rock and soil sampling, gravity, and CSAMT geophysical surveys. A multi-element gold-antimony-mercury (Au-Sb-Hg) anomaly sourced from a creek outcrop with an underlying CSAMT anomaly was drill tested in the project area by Metal Mining Agency of Japan (MMAJ). The MMAJ drill hole intersected a 43 metre length of silicified tuff-siltstone grading 0.9 g/t Au from 200 metres below the anomalous creek outcrop, the mineralized zone also included an interval of 20.3 metres at 1.16 g/t Au with associated Sb and Hg anomalism1.
The disseminated gold-silver-antimony-arsenic-mercury (Au-Ag-Sb-As-Hg) mineralization intersected in the MMAJ drill hole is interpreted to have been deposited at or close to the paleo-surface and related to a deeper vein-type mineralizang event. This mineralization has subsequently been covered by a 100 to 150 metre thick sequence of younger volcanic ash. The feeder or vein structures below this high-level disseminated mineralization are valid exploration targets and the Company believes they definitely warrant further investigation within the context of the gold province.
Ohra-Takamine Second Extension
The Ohra-Takamine Project lies within the Hokusatsu-Kushikino Mining District and covers five historic gold mines.
The extension applications were made to encompass MMAJ-defined areas of hydrothermal alteration co-incident with gravity high, CSAMT geophysical and geochemical soil anomalies, some 2 to 3 kilometres southeast of the historic Matsuno mine workings.
1MITI (1999): Report on the regional survey of the Hokusatsu-Kushikino region, Hesai 11, 12 & 13. Ministry of International Trade and Industry.
Qualified Person
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.
"John Proust"
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company holds a portfolio of 19 Gold Projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the Company has recruited geologists and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com
Japan Gold Contacts
John Proust
Chairman & CEO
Phone: 778-725-1491
Email: info@japangold.com
Cautionary Note
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 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.
Figure 1: Japan Gold Property Portfolio including the new Mizobe Project and a second Ohra-Takamine extension.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5665/47383_d204426df4856b8b_002full.jpg
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