Epithermal gold deposits are some of the richest gold deposits in the world, and are characterized by high grade, small tonnage, and shallow deposits. Low sulphide and high sulphide deposits are typical of volcanic or fault formations. Over the last million years, hydrothermal fluids in contact with rising molten magna deposited massive quartz, calcite and andularia veins, rich in gold, silver and other metals. Volcanic activity at subduction zones produced vein-style epithermal (shallow, heated fluid) mineral deposits near hot springs and calderas.
Japan’s unique volcanic geology and strategic location along the Pacific Ring of Fire, has led to hundreds of years of gold mining. The world’s epithermal gold deposits occur along the Pacific Ring of Fire, which create the potential for mineral discoveries.
The main Japan islands of Hokkaido, Honshu and Kyushu have at least six distinct epithermal gold provinces hosting greater than 70 historically producing gold mines. Prior to World War II, the five largest mines produced over 1M ounces of gold with the largest producing over 2.5M ounces.
The government imposed the closure of gold mines during World War II to redeploy the labour force into other sectors with limited production post-World War II. Although a few mines reopened after WWII, by the early 1980s, there was virtually no commercial gold production in the country.
In 1981, Sumitomo Metal Mining Co. Ltd. discovered the highest-grade ore deposit in the world, with gold concentrations averaging six to ten times higher than typically seen in commercial gold mines. The Hishikari Mine in the Southern Island of Kyushu is a 13M-ounce gold deposit having produced approximately 8.6M ounces with an average grade exceeding 30 to 40 grams per tonne to date, and is the only operating gold mine in Japan today. Since the mine began to operate in 1985, output from the Hishikari Mine has more than doubled the previous 400 hundred years of production from Japan’s two formerly largest mines and new reserves are still being discovered there today.
Fraser MacCorquodale, President & COO of Japan Gold stated, "The Company has done great work to build a high-quality exploration portfolio within a re-emerging country with demonstrated gold prospectivity”. Fraser previously led Newcrest Mining’s global exploration team to several discoveries.
Japan is ready for its next gold discovery!
