Vancouver, British Columbia--(Newsfile Corp. - May 26, 2021) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to report the start of drilling at the Ryuo Mine prospect located within the Ikutahara Project in the Kitami Region of northeast Hokkaido, Japan. The Ikutahara Project is 100% held by Japan Gold and is not included in the Barrick Alliance.
Highlights:
- An initial 3 drill holes will test targets below or adjacent to historical workings which have coincident CSAMT resistivity anomalies and gravity defined structures.
- 5 areas of workings were developed along a 1 km long, open ended zone of alteration and mineralization prior to the government-imposed closure in 1943.
- Underground sampling carried out in the 1950's at the Jinja vein workings, revealed zones of high-grade gold mineralization including one vein sampled over a strike length of 72 m returning average grades of 40.8 g/t Au and 193 g/t Ag (average vein width approximately 0.5 m).
- An additional 8 drill pads have been permitted across the prospect to allow for further drill testing based on results of the first 3 drill holes.
Historic Ryuo Mine:
The Ryuo Mine operated before the Second World War and workings were developed on up to six levels on two veins, the Jinja and Shouei veins. A number of peripheral veins were also mined nearby. Workings on the main Jinja vein were developed over an approximate 75 m vertical extent before the government imposed mine closure in 1943.
The Ryuo Drill program:
The initial program of 3 drill holes totaling approximately 700 m, will target coincident CSAMT resistivity anomalies and gravity defined structures that lie below or adjacent to the Jinja, Shouei and Ryuei workings (refer to Figures 1 & 2). Hole 1 has commenced drilling and is targeting the down-dip extension of high-grade mineralization mined at the Jinja vein.
An additional 8 drill pads have been permitted to allow scout drill testing of inferred strike extensions and CSAMT resistivity anomalies. The Company is mobilising two more drill rigs to the Ryuo Mine to speed up drilling. Japan Gold has a highly experienced team of in-house drillers and has engaged the support of qualified engineers from Japan's most gold experienced drilling company to ensure the best compliance and efficiency for its drilling operations. Drilling results will be released at the completion of the first 3 drill holes.
Figure 3 illustrates a long section of the Jinja vein workings with samples collected in the 1950's and reported by the Metal Mining Agency of Japan (MMAJ)1. High-grade gold/silver quartz veins were mapped on all four of the lower levels of the Jinja vein system. Chip-channel samples were collected across the veins at intervals spaced between 0.3 m and 4.7 m along strike. Mineralization sampled along level 4 averaged approximately 0.5 m in width and included a zone having a strike length of 72 m length averaging 40.8 g/t Au and 193 g/t Ag1. The published MMAJ data indicates high-grade mineralization present on levels 4, 5 and 6 (Figure 3) and importantly the presence of a high-grade gold event at Ryuo. Contiguous CSAMT resistivity anomalies defined along strike of the mine workings, and no previous exploration drilling provide potential for more discoveries of high-grade mineralization at Ryuo. Refer also to the Company's news release dated Feb. 9, 2017 for more information on the Ryuo Prospect.
The Ikutahara Project also hosts the Kitami Region's third largest gold mine, the historic Kitano-o Mine along with numerous other historic mines and workings that the Company is in the process of advancing.
1 Metal Mining Agency of Japan, March 1990, Geological Survey Report for Fiscal Year 1989, Northern Hokkaido Area B-Metalliferous Deposits Overview.
Note 1
The Company's compilation of underground sampling data at Ryuo has been based on data published by the MMAJ and the Company has not resampled the underground workings or re-assayed samples. The MMAJ report does not refer to QA/QC protocols followed historically.
Qualified Person
The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration and Country Manager, Andrew Rowe, BAppSc, 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 has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 31 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, drillers 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.
For further information please contact:
John Proust
Chairman & CEO
Phone: 778-725-1491
Email: info@japangold.com
Website: www.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 expected or anticipated future events and anticipated results related to future partnerships and the Company's 2020 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 laws.
Figure 1: Ikutahara Project, simplified geology and historical mines and workings.
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Figure 2: Historic Ryuo Mine, alteration map with historic workings, planned drill holes, permitted drill pads and gold in rock chip values
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Figure 3: Jinja vein workings long-section with composited back sample intervals from 1950's sampling
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85332
