VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 26, 2017) –
Editors Note: There is a photo associated with this press release.
Japan Gold Corp. (TSX VENTURE:JG)(OTCQB:JGLDF) (“Japan Gold” or the “Company”) is pleased to announce that it has expanded its project portfolio through the addition of its first project on the island of Kyushu in southern Japan. The Japan Gold portfolio now consists of 11 projects. The Kamitsue Project consists of 12 contiguous prospecting rights applications covering an area of approximately 4,069 hectares. The location of these applications is shown in relation to the main geological features and other gold deposits on Kyushu in Figure 1.
The Company is now authorized to commence an active program of surface exploration which will include geological mapping, geochemical sampling and geophysical surveys on this area.
John Proust, Chairman and CEO of Japan Gold commented, “The Kamitsue Project is Japan Gold’s eleventh project in Japan and represents an important addition to the Company’s portfolio of epithermal gold prospects. The Company now holds projects on the islands of Hokkaido, Honshu and Kyushu.”
Kamitsue is located 10 kilometers southeast of the Taio mine (Figure 1), northern Kyushu’s largest gold mine which produced approximately 1.2 million ounces of gold at an average grade of 6.3 g/t and operated between 1903-73 (Garwin, 2005, Shikazono, 1986). Kyushu hosts two other plus million ounce gold producers, the currently producing Hishikari mine with 8.5 million ounces of gold at a grade of 47.3 g/t (Sumitomo Metal Mining Co. Ltd. website) and the Kushikino mine which produced 1.8 million ounces of gold at a grade of 6.7 g/t between 1914-74 (Garwin, 2005, Shikazono, 1986) in the southern part of the island.
Detailed surface exploration was completed over the Kamitsue area and reported by the Metal Mining Agency of Japan (MMAJ) in the early 1990’s. The Company has inspected several localities with historic workings dating back to the early 1900’s, however no production data is recorded. Regional alteration mapping and soil geochemical sampling reported by the MMAJ covers a 7km by 4km area at Kamitsue. This work identified two distinct coincident clay-alteration / geochemical anomalies including a 5.5km by 1.5km east-west trending zone with anomalous gold, silver, arsenic, antimony and mercury and a smaller 1.5km by 0.5km zone with anomalous gold, silver, arsenic and mercury.
Considering the size of the defined anomalies at Kamitsue, and the other significant gold deposits throughout Kyushu, the Company feels the area has significant merit for further exploration and will commence follow up surface exploration later this year.
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 in Japan. The Company has applied for 160 prospecting rights licenses for a combined area of 53,218 hectares over eleven separate projects. The Company’s portfolio now has projects on the three main islands of Japan, Hokkaido, Honshu and Kyushu. Seven projects cover areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization. Four of the projects, in southern Hokkaido and northern Honshu, are located over gold-bearing lithocaps, which may indicate the presence of porphyry mineralization, a deposit style yet to be identified in Japan. 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. Low-impact surface exploration is underway, with the expectation of applying for drilling this year. More information is available at www.japangold.com or by email at [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 that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company’s ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
The technical information in this news release has been reviewed by Japan Gold’s President & Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, who is a Qualified Person as defined by National Instrument 43-101.
References
Izawa, E. and Watanabe, K. 2001. Overview of Epithermal Gold Mineralisation in Kyushu, Japan, Society of Economic Geologists Guidebook Series, v34, p 11-15
Shikazono, N. 1986, Ag/Au Total Production Ratio and Au-Ag Minerals from Vein-Type and Disseminated-Type Deposits in Japan, Mining Geology, 36(6), p 411 – 424
Garwin, S., et al. 2005. Tectonic Setting, Geology, and Gold and Copper Mineralisation in the Cenozoic Magmatic Arcs of Southeast Asia and the West Pacific, Appendix 1, Economic Geology 100th Anniversary Volume, p 891-930
Watanabe, Y 2005. Late Cenozoic Evolution of Epithermal Gold Metallogenic Provinces in Kyushu, Japan, Mineralium Deposits (2005) 40, p 307 – 323
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