Vancouver, British Columbia--(Newsfile Corp. - November 21, 2019) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (the "Company") is pleased to announce the granting of Prospecting Rights over the historic Aibetsu Goldfield in the Kitami Region of northern Hokkaido by the Japanese Ministry of Economy, Trade and Industry ("METI").
Nine of the 22 prospecting rights applications at the Aibetsu Project, comprising 2,916 hectares, have been converted to Prospecting Rights. This paves the way for drill target definition over high-priority targets in the 2020 field season [See Figure 1].
Prospecting Rights have now been granted over the historic Aibetsu Goldfield which includes three known hard rock and eluvial gold and mercury workings; Tokusei (Au), Motoyama (Hg) and Yamamezawa (Hg), [Figure 2]. The largest of these was the Tokusei gold mine, which was reported to have produced 38,000 ounces of gold and 474,000 ounces of silver from underground development between 1930 and 19431.
Historic production at Tokusei came from a series of approximately 20 banded-epithermal veins hosted in andesitic volcanic rocks. Individual veins varied in length from 22 to 425 metres, with one exceptional vein, the Sanjinhi vein, averaging 6.4 metres in width over a 140 metre strike length which averaged 17.7 g/t gold and 20.4 g/t silver2.
Government funded work included a drilled vein intercept of 0.95 metres grading 69 g/t gold and 263 g/t silver from a drill hole 500 metres to the northeast of the Tokusei mine workings3. The Company has identified extensive areas of anomalous gold and pathfinder elements in soil sampling which highlights the prospectivity of the Tokusei mine extensions. The Company will investigate these anomalies in more detail and will prepare a drilling plan in the 2020 field season. For more detailed information on the Aibetsu Project, refer to the Company's website and news release dated February 28, 2018; https://japangold.com/index.php/news/2018/204-japan-gold-reports-encouraging-results-from-the-2017-exploration-program-at-the-aibetsu-project-in-north-hokkaido.
1 Watanabe, Y., (1995). A Tectonic Model for Epithermal Au Mineralisation in NE Hokkaido, Japan. Resource geology Special Issue, No. 18, pp. 257-269.
2 Fujiwara, T., Konoya, M., and Matsui, K. (1960). Geology and mineral deposits in the Aibetsu area, Hokkaido Chikashigen Chosashiryo 59: pp. 1-20 (in Japanese).
3 Metal Mining Agency of Japan, Geological Survey Report for Fiscal Year 2002, North Hokkaido Area.
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.
Chairman & CEO
About Japan Gold Corp.
Japan Gold Contacts
Chairman & CEO
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.
To view an enhanced version of Figure 1, please visit:
To view an enhanced version of Figure 2, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49953