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Japan Gold Acquires Three New Gold Projects in the Southern Kyushu Epithermal Gold Province and Relinquishes Copper-Focused Projects
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2019) - Japan Gold Corp. (TSXV: JG) ...
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[{"type":"text","content":"Japan Gold Acquires Three New Gold Projects in the Southern Kyushu Epithermal Gold Province and Relinquishes Copper-Focused ProjectsVancouver, British Columbia--(Newsfile Corp. - July 30, 2019) - Japan Gold Corp. (TSXV: JG) (\"Japan Gold\" or the \"Company\") is pleased to announce expansion of its epithermal gold portfolio in Japan via acquisition of three new Projects in the prospective Southern Kyushu Epithermal Gold Province. The projects cover prospective ground along strike of, or adjacent to, current and past producing gold mines including the Hishikari, Kushikino, Yamagano and Okuchi mines.The Southern Kyushu Epithermal Gold Province has produced in excess of 11 million ounces of gold from low-sulphidation epithermal deposits. Notable producers within the province include: the Hishikari mine with 7.6 million ounces produced to date at average grades of 30-40 g/t1; Kushikino mine, 1.8 million ounces at 6.7 g/t; Yamagano mine, 910,000 ounces at 17.4 g/t; and the Okuchi mine with 714,000 ounces at 13.6 g/t2,3.The three new projects comprise 76 applications, 23,406 hectares collectively. The Japanese Ministry of Economy, Trade and Industry (\"METI\") has notified acceptance of the new applications giving Japan Gold priority over these areas and authorization to commence surface exploration. With the addition of these new projects, the Company's portfolio now includes 18 separate gold projects within the major epithermal gold provinces of Japan, Figure 1.Lithocap RelinquishmentsIn conjunction with the new project acquisitions, the Company has made the decision to focus solely on its gold projects and relinquish the majority of its copper-gold lithocap projects. The decision to relinquish these lithocap projects follows an appraisal completed during 2018-19. The Eboshi, Kobui, Ponkutosan and part of the Minamikayabe projects will be relinquished, the retained area at Minamikayabe hosts gold-bearing quartz veins that require further investigation. The Kamitsue lithocap project in Kyushu exhibits features of a gold-rich porphyry system, is inferred to have undergone the most erosion, and therefore is believed to have the best potential to host a relatively shallow mineralized porphyry intrusion. The Kamitsue project will therefore not be relinquished.References:1 Sumitomo Metal Mining Co., LTD. website, production as of end of M...