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Japan Gold Announces Strategic Alliance to Explore Four Prospective Lithocap Projects
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2018) - Japan Gold Corp. (TSXV: JG...
About this update from Japan Gold Corp
[{"type":"text","content":"Japan Gold Announces Strategic Alliance to Explore Four Prospective Lithocap ProjectsVancouver, British Columbia--(Newsfile Corp. - October 23, 2018) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (\"Japan Gold\" or the \"Company\") is pleased to announce that it has entered into a binding letter agreement (\"Letter Agreement\") with First Quantum Minerals Ltd. (TSX: FM) (\"FQML\") to explore four of its prospective lithocap projects (collectively, the \"Lithocap Projects\" and each a \"Project\") located on the islands of Hokkaido, Honshu and Kyushu, Japan. The Lithocap Projects represent exploration targets for shallow-level epithermal gold and deeper porphyry copper-gold deposits. Pursuant to the terms of the Letter Agreement, FQML has committed to manage and oversee a systematic surface exploration reconnaissance program on each Project prior to June 30, 2019.John Proust, Chairman and CEO of Japan Gold, commented: \"We are delighted to partner with a company with First Quantum's international reputation, exploration, development and production expertise and financial capability to advance four of our highly prospective gold and copper-gold exploration targets in Japan. We believe this to be a first of many validating events for our pioneering efforts to re-establish Japan as a major mining jurisdiction. Separately, Japan Gold's portfolio includes an additional twelve epithermal gold projects focused on the islands of Hokkaido and Kyushu, all of which sit within historic mining districts. Taken together, we believe that the Company is in an excellent strategic position in Japan, and we heartily welcome First Quantum as a partner.\"The Projects included in the Letter Agreement are the Eboshi, Kobui, Minamikayabe and Kamitsue projects, which collectively cover a land area of 11,830 hectares (\"ha\"), refer to Figure 1 which shows Japan Golds lithocap projects on the islands of Hokkaido, Honshu and Kyushu.FQML will immediately commence work on initial exploration programs at each of the Projects, which will consist of reconnaissance field work, mapping, soil and rock sampling, and targeted geophysics. FQML personnel will be working directly alongside Japan Gold, who will remain as operator during this initial program at each of the Projects. Option SummaryUpon completion of the initial exploration program, as defined by a specific...