Japan Gold Commences Drilling at the Ohra-Takamine Project And Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - July 5, 2023) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce commencement of drilling at the Ohra prospect within its 100% owned Ohra-Takamine project in southern Kyushu.
The Ohra-Takamine project is located within the Hokusatsu Region of the Southern Kyushu Epithermal Gold Province, Japan's largest gold producing district, with more than 11 million ounces of combined production from high-grade low-sulphidation epithermal vein deposits1-5.
An extensive data set collected over the Ohra-Takamine project by the Company includes geological mapping, soil geochemistry, CSAMT, gravity, and three diamond drillholes. Interpretation of this combined data set has defined drill targets along the 3.5 km long open-ended corridor of alteration and mineralization defined by the historical Ohra, Takamine and Urushi gold mines. Drilling will initially focus on the prospective un-tested 1.5 km long strike zone between the Ohra and Takamine mines, (Figure 1).
The Ohra Prospect
The Ohra mine produced more than 28,000 ounces of gold including 21,000 ounces at grades greater than 20 g/t gold1, prior to closure in 1942. Two drill holes were previously completed by the Company at the Ohra prospect (OTD001 & OTDD20-002). These two drill holes targeted vertical depth extensions of the high-grade Ohra vein shoot, intersecting narrow mineralized vein intervals and indicating a termination of the Ohra shoot in that locality. However, drill hole OTDD20-002 continued past the projection of the Ohra veins into the footwall intersecting a significant number of banded and sheeted quartz veins in the lower portion of the drill hole. These deeper veins may indicate the presence of concealed parallel vein zone at Ohra.
The initially planned drill hole OTDD23-001, located 150 m southwest of the Ohra workings, will target the inferred strike extension of the veins encountered in Ohra footwall in drill hole OTD20-002. The target is supported by a strong and coincident gold, pathfinder element and clay alteration footprint defined by soil sampling, and the presence of abundant sinter scree along the target zone indicating good preservation. A corridor of coincident CSAMT defined resistive and conductive anomalies along the 1.2 km strike zone between the Ohra and Takamine workings also supports contiguous alteration along the zone.
If the planned drill hole is successful, additional drilling will target the 1.2 km long gold and pathfinder element anomalous strike extension towards the Takamine mine workings, refer to Figure 1.
Appointment of Brenda Dayton as Vice President Corporate Communications
Ms. Brenda Dayton has been appointed as Vice President, Corporate Communications, effective July 4, 2023.
In this role, Brenda will lead the Company's internal and external communications functions, and will work closely with the senior management team and the Japan Gold Board of Directors in developing and implementing an Investor Relations and Communications plan focused on advancing its resource development stage projects. Brenda has extensive experience within the precious metals mining industry. Prior to joining Japan Gold, she served in a variety of senior corporate communications roles with such companies as GR Silver Mining, Sunward Resources and Golden Queen Mining. Ms. Dayton is a Director of the CIRI Board - BC Chapter and holds a Bachelor of Arts degree from the University of Calgary. She will be based in the Company's Vancouver head office.
John Proust, Chairman and CEO of Japan Gold commented, “I am very excited to have Brenda join us. Her experience and expertise in corporate communications and investor relations will be key to expanding awareness of Japan Gold and its value opportunity within the capital markets.”
In conjunction with her appointment, Ms. Dayton entered into an employment agreement with the Company for an indefinite term. Additionally, and pursuant to the Company’s equity incentive plan, the Board of Directors has granted Ms. Dayton a total of 200,000 stock options priced at $0.20 per share.
The technical information in this news release has been reviewed and approved by Japan Gold Vice President of Exploration and Country Manager, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.
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 holds a portfolio of 34 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 an operational team of geologists, drillers and technical advisors with experience exploring and operating in Japan.
Japan Gold has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop, and mine certain gold mineral properties and mining projects. The Barrick Alliance has completed a successful two-and-a-half-year country-wide screening program of 29 projects and has selected six with the potential to host Tier 1 or Tier 2 gold ore bodies for further advancement and three more recently acquired project areas and one recently acquired project, for initial evaluation.
On behalf of the Board of Japan Gold Corp.
Chairman & CEO
For additional information, please contact:
1Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan
2Sumitomo Metal Mining Co., LTD. Integrated Report, March 2022
3Watanabe Y, 2005. Late Cenozoic evolution of epithermal gold metallogenic provinces in Kyushu, Japan. Mineralium Deposita (2005) 40: pp 307-323
4Garwin, 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
5Shikazono, N. 2003. Geochemical and Tectonic Evolution of Arc-Backarc Hydrothermal Systems, Volume 1. Elsevier, 2003
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, the Company's 2020 gold exploration program and Ms. Dayton’s scope of services. 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: Geological map of the Ohra-Takamine project area, with historical mine workings, gold in soil anomalies, Company and MMAJ drill holes.
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