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Japan Gold Enters into an Agreement to Acquire Mining Rights in Southern Kyushu
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - Japan Gold Corp. (the "...
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[{"type":"text","content":"Japan Gold Enters into an Agreement to Acquire Mining Rights in Southern KyushuVancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - Japan Gold Corp. (the \"Company\") (TSXV: JG) (OTCQB: JGLDF) is pleased to announce it has signed a Joint Venture agreement with Koatsu Kogyo Corporation (\"KKC\") for three mining rights licenses, (\"the Kowa Project\") which adjoin the Company's Ohra-Takamine Project, and the Barrick Alliance Mizobe-Onoyama Project in Southern Kyushu. The three Mining Rights collectively called the Kowa Project comprise 389 hectares and will be included into the Barrick Alliance. The Mining Rights host numerous gold-bearing epithermal quartz veins with shallow historic underground mine workings developed on them. With the signing of this agreement the Company has complete coverage over strike extensions to the Ohra-Takamine mineralization corridor, along with the numerous under-explored veins contained within the Properties, Figure 1. Highlights of the Joint Venture include: The Company has an exclusive right to explore the Properties in return for the Company's commitment to fund the exploration and development and pay Mining Right taxes.The Company has the right to acquire 100% equity in the Mining Rights in return for funding through to pre-feasibility, Consideration for the transfer of the Mining Rights to the Company will be a 10% net profits interest \"NPI\" A joint technical committee will oversee exploration and development activities within the properties and the Company will act as ManagerJohn Proust, Chairman & CEO commented, \"We're very pleased to sign this joint venture agreement with the Koatsu Kogyo Corporation. The joint venture covers a strategic and under-explored gap in the Company's extensive portfolio in the very prospective Southern Kyushu Epithermal Gold Province.\"The Koatsu Kogyo Mining LicensesGravity-high anomalies are a key feature associated with the development of high-grade epithermal gold deposits in the Hokusatsu Region. Within the Properties gold-bearing epithermal veins occur along a 2-kilometer long north trending corridor situated on the western flank of a major gravity-high anomaly, refer to Figure 2. The numerous shallow historic workings developed on these veins have been grouped under the collective name of the Kowa Mine Workings1. Production occurred spo...