Japan Gold Acquires a Dominant Position in Kyushu with the Addition of Five New Gold Projects
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2019) - Japan Gold Corp. (TSXV: JG) ("Japan Gold" or the "Company") is pleased to announce a second round of project acquisitions with the addition of five new gold Projects in the prospective Southern and Middle Kyushu Epithermal Gold Provinces. The projects cover prospective ground along strike of, or adjacent to, significant current and past producing gold mines including the Hishikari, Kushikino, Yamagano, Okuchi and Bajo mines. The new projects comprise 21,058 hectares collectively. The Japanese Ministry of Economy, Trade and Industry ("METI") has notified acceptance of the new applications giving Japan Gold priority over these areas and authorization to commence surface exploration. With the addition of these new projects, the Company's portfolio now includes 24 separate gold projects within the major epithermal gold provinces of Japan (Figure 1).
Highlights
- Five new low sulphidation epithermal gold Project acquisitions
- Portfolio expanded to 24 Projects
- Dominant position in the Southern Kyushu Epithermal Gold Province
- Three Projects adjacent to the Sumitomo Metal Mining, Hishikari Mine property
John Proust, Chairman & CEO commented "The acquisition of this coherent ground package in such a prospective address is a remarkable accomplishment. These new projects continue to provide outstanding exploration opportunities within the portfolio and the potential to create significant value for Japan Gold going forward."
The Southern Kyushu Epithermal Gold Province
In excess of 11 million ounces of gold have been produced from low-sulphidation epithermal deposits within the province, notable producers include: the Hishikari mine with 7.6 million ounces produced to date at average grades of 30-40 g/t Au1; Kushikino mine, 1.8 million ounces at 6.7 g/t Au; Yamagano mine, 910,000 ounces at 17.4 g/t Au; and the Okuchi mine with 714,000 ounces at 13.6 g/t Au2,3. The Company now holds a dominant position covering most of the highly prospective geology immediately along strike and adjacent to historic and currently producing mines in the province.
The three new projects within the Southern Kyushu Epithermal Gold Province include Isa, Gumyo and Kurino and comprise an additional 14,742 hectares (Figures 2 and 3). These projects cover prospective Pliocene and Pleistocene geological sequences adjacent to and along strike of the Hishikari, Yamagano and Okuchi gold mines, refer to Figures 2 and 3 for project localities. Refer also to recent Company news releases dated 29 August and 30 July, 2019 for information on other new project acquisitions in the province.
Middle Kyushu Epithermal Gold province
In excess of 1.7 million ounces of gold have been produced historically from epithermal gold mines in the Middle Kyushu Province. The two newly acquired projects within the Middle Kyushu Epithermal Province are the Bajo and Usa projects and cover extensions to the Bajo gold mine and a series of historic gold workings in the Usa area for a combined total of 6,315 hectares (Figure 2).
Drill Result Disclosure
In conjunction with the aggressive project generation activities and multiple drilling operations, Japan Gold has reviewed its policy for drill result disclosure and determined that it is in the best interest of the Company to release results on the two current drill programs at the end of each phase of drilling when final assay results, ICP analysis 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.
Figure 1: Expanded Japan Gold Portfolio
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5665/47643_0854b6b07466a9d9_001full.jpg
Figure 2: Middle and Southern Kyushu Epithermal Gold Provinces
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5665/47643_0854b6b07466a9d9_002full.jpg
Figure 3: Southern Kyushu Epithermal Gold Province
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5665/47643_0854b6b07466a9d9_003full.jpg
References:
1 Sumitomo Metal Mining Co., LTD. website, production as of end of March 2019.
2 Watanabe Y, 2005. Late Cenozoic evolution of epithermal gold metallogenic provinces in Kyushu, Japan. Mineralium Deposita (2005) 40: pp 307-323
3 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
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 and copper-gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company holds a portfolio of 24 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 has 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 [email protected].
Japan Gold Contacts
John Proust
Chairman & CEO
Phone: 778-725-1491
Email: [email protected]
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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47643
Please make the indicated changes including the new text: US quotes snapshot data provided by IEX. Additional price data and company information powered by Twelve Data.
