Barrick Selects Six Japan Gold Projects to Advance to Second Evaluation Phase and Three Project Areas to Continue the Initial Evaluation Phase

Barrick Selects Six Japan Gold Projects to Advance to Second Evaluation Phase and Three Project Areas to Continue the Initial Evaluation Phase

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold") is pleased to announce that Barrick Gold Corporation ("Barrick") has selected six projects from the Barrick Alliance portfolio to continue as Included Projects in the Second Evaluation Phase under the Strategic Alliance Agreement dated February 23, 2020 (the "Alliance Agreement") between Japan Gold and Barrick. In addition, Barrick will be continuing their Initial Evaluation Phase on three project areas that were added to the Barrick Alliance following its formation. Japan Gold will continue to provide full support and management of the Included Projects under the Barrick Alliance.

Barrick's Vice President Exploration, Asia-Pacific, Marian Moroney, commented "The Barrick team is excited that the country-wide screening program has been successful in defining multiple projects which will now receive more focused work programs in order to progress them to the next stage. The programs are likely to include geophysical surveys and drilling on the best targets, as we continue the search for world-class orebodies in Japan."

John Proust, Chairman & CEO commented: "The Japan Gold team has completed an enormous amount of work over the past 2 ½ years evaluating the 29 Barrick Alliance projects in order to demonstrate to Barrick the high quality of the Japan Gold project portfolio and its prospectivity. We are highly encouraged that Barrick has selected 6 projects with the potential to host Tier 1 or Tier 2 ore bodies and we look forward to aggressively advancing these projects."

As part of the Alliance Agreement, Barrick agreed to (i) sole fund a 2-year Initial Evaluation Phase of all 29 projects initially included in the Barrick Alliance, as well as a 2-year Initial Evaluation Phase on any projects subsequently acquired by Japan Gold and included in the Barrick Alliance, commencing on their acquisition date, and (ii) sole fund a subsequent 3-year Second Evaluation Phase on projects which meet their criteria. In February 2022, Japan Gold granted Barrick a 6-month extension, to August 31, 2022, to complete the Initial Evaluation Phase on the original project portfolio, due to delays and travel restrictions caused by the global Covid pandemic.

Barrick requires projects to have the potential to host either a Tier 1 or Tier 2 ore body, in order to advance under the Barrick Alliance. Tier 1 ore bodies are defined by Barrick as having 5 million ounce or greater potential with annual production of at least 500,000 ounces of gold for 10 years and Tier 2 ore bodies are defined as having 3 million ounce or greater potential with annual production of 300,000 ounces of gold for 10 years. The following projects were chosen by Barrick following a comprehensive program of field and data review, completed by senior Barrick and Japan Gold personnel:

  • Aibetsu, Tenyru, Hakuryu, Togi, Ebino and Mizobe, included in the Barrick Alliance at the time of its original formation, will advance to the program's Second Evaluation Phase.

  • Buho Extension - Nakanosawa, Aibetsu East Extension, and Togi Extension were added to the Barrick Alliance following its formation and, as such, will continue under the Initial Evaluation Phase in accordance with the terms of the Alliance Agreement. All Initial Evaluation Phase terms end within one year.

John Proust, Chairman & CEO commented, "With the thorough evaluations completed by the Barrick Alliance, the Company now holds a comprehensive and unique data set on Japan's epithermal-gold districts and is well-positioned to advance areas of high-prospectivity which don't fit Barrick's criteria but may still host large high-grade gold deposits.We are internally evaluating all projects that Barrick did not select, which remain at an early stage of investigation but offer exploration potential, with a view to determining which to advance independently or by bringing in additional partners."

The following Figures 1-5 highlight the Barrick selections and changes to the Japan Gold portfolio:

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_001.jpg

Figure 1: Japan Gold Portfolio.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_002.jpg

Figure 2: Northeast Hokkaido.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_003.jpg

Figure 3: Southwest Hokkaido.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_004.jpg

Figure 4: Noto Peninsula, Honshu.

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_004full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_005.jpg

Figure 5: Japan Gold projects in the Hokusatsu region, Southern Kyushu.

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/5665/136038_b90e3a17741c5b8d_005full.jpg

On behalf of the Board of Japan Gold Corp.

"John Proust"
Chairman & CEO

Qualified Person

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 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 an operational team of 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: +1 778-725-1482
Email: info@japangold.com
Website: www.japangold.com

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.

Cautionary Note

The information in this news release has been prepared as at September 6, 2022. Certain information contained in this news release, including any information relating to the Alliance constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "may", "will" and similar expressions identify forward-looking statements. In particular, this news release contains forward-looking statements including, without limitation, with respect to the potential exploration, development and mining of certain mineral projects in the Barrick Alliance and the possibility of continued advancement for certain projects. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Japan Gold as at the date of this news release in light of Japan Gold's management's experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect actual results and can cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Japan Gold. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events and speak only as of the date made. All of the forward-looking statements made in this news release are qualified by these cautionary statements. Japan Gold 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 law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136038

News Provided by Newsfile via QuoteMedia

JG:CA
The Conversation (0)
Japan Gold Announces Board and Management Changes

Japan Gold Announces Board and Management Changes

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") announces the retirement of Mr. Mitsuhiko Yamada as Board member and Representing Director and the appointment of Mr. Takashi Kuriyama to the Board of Directors.

It is with great respect and gratitude that we announce the retirement of Mr. Mitsuhiko Yamada from the Board of Directors of Japan Gold Corp. and as the Representing Director of Japan Gold KK, the Company's wholly owned operating subsidiary. Going forward, Mr. Yamada will join the Japan Gold Board of Advisors.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Japan Gold Intersects High-Grade Silver Mineralization at the Saroma Prospect

Japan Gold Intersects High-Grade Silver Mineralization at the Saroma Prospect

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce drilling at the Saroma prospect has encountered multiple intersections of high-grade silver with gold mineralization along a 1 km length of the Saroma vein. The Saroma vein forms part of a larger, 3.5 km long open-ended district-scale mineralized structure which hosts the Saroma, Chitose and Taiho historical workings, collectively called the Saroma prospect. Saroma is one of several prospects the Company is advancing within its 100% owned Ikutahara Project in Hokkaido, Japan.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Japan Gold Provides an Update on the Barrick Alliance

Japan Gold Provides an Update on the Barrick Alliance

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to provide an update on work programs at Barrick Alliance projects in Kyushu and Hokkaido (Figure 1).

Following the announcement of Barrick's selection of six Japan Gold projects in early September, work programs immediately commenced on priority targets in Kyushu and Hokkaido (Figure 1). Refer to the Company's news release dated September 6, 2022, for more information on the Barrick Alliance selection of projects for advancement.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Japan Gold Provides an Update on Exploration Activities at the Ikutahara Project

Japan Gold Provides an Update on Exploration Activities at the Ikutahara Project

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to provide an update on exploration activities at the 100% owned Ikutahara Project in Hokkaido, Japan, (Figure 1).

Ryuo Prospect

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Japan Gold Announces 2022 Annual General Meeting and Investors Webinar

Japan Gold Announces 2022 Annual General Meeting and Investors Webinar

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") will hold its Annual General Meeting ("AGM") virtually on Thursday, October 20, 2022 at 3:00 p.m. (PT) at https:meetnow.globalMXNMPNU. Following the formal portion of the AGM, Management will also discuss the Company's ongoing drilling progress and the selection of 6 projects by Barrick Gold Corporation. The discussion will be followed by a question and answer period.

Registered Shareholders and duly appointed proxyholders can attend the AGM online to participate, vote, or submit questions during the AGM's live webcast. In order to participate online, Registered Shareholders must have a valid 15-digit control number and proxyholders must have received an email from Computershare Trust Company of Canada OR Computershare Investor Services Inc. containing an Invite Code.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
White Gold Corp. Identifies Multiple Prospective IP Chargeability Anomalies on Two Large Multi-Element Porphyry Targets in Close Proximity to the Casino Copper-Gold Porphyry Deposit, Yukon, Canada

White Gold Corp. Identifies Multiple Prospective IP Chargeability Anomalies on Two Large Multi-Element Porphyry Targets in Close Proximity to the Casino Copper-Gold Porphyry Deposit, Yukon, Canada

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to provide an exploration update on the Bridget and Isaac porphyry targets located on the Pedlar and Hayes properties, respectively. Exploration work completed during 2023 included Induced Polarization (IP) chargeability and resistivity survey lines and hyperspectral analysis on 2022 prosecting rock samples. All data collected thus far on these large early-stage targets continue to support a porphyry deposit model.

The Pedlar and Hayes properties are situated in the southern part of the Company's 315,000 hectare (3,150 km 2 ) land package in the White Gold District, west-central Yukon (Figure 1). Western Copper and Gold Corporation's Casino copper-gold-molybdenum porphyry deposit (Measured & Indicated Resources of 7.6 Blb copper and 14.5 Moz gold and Inferred Resources of 3.3 Blb copper and 6.6 Moz gold) sits approximately 30 km southwest and 40 km west of the Bridget and Isaac targets respectively. Casino is one of the largest undeveloped copper-gold projects in Canada, and since 2021 has seen strategic investments by major partners including Rio Tinto Canada Inc. and Mitsubishi Materials Corporation. The Pedlar and Hayes properties are also located 40 km and 72 km southeast, respectively, of the Company's flagship White Gold project which contains an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources ( 1) .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Steppe Gold Draw Downs US$40.4M for the Phase 2 Expansion of the ATO Gold Mine

Steppe Gold Draw Downs US$40.4M for the Phase 2 Expansion of the ATO Gold Mine

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce it has reached the next financing milestone for the Phase 2 Expansion at the 100% owned ATO Gold Mine (the "ATO Phase 2 Expansion"). This coincides with further progress on the turnkey engineering, procurement, and construction contract (the "EPC Contract"), and the second project finance draw down of US$40.4m.

Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Warriedar Resources Managing Director Amanda Buckingham.

Warriedar Resources Exec Shares "Recipe for Success" at Golden Range Project

In mid-March, Warriedar Resources (ASX:WA8) reported the intersection of significant intervals of gold mineralisation at the Ricciardo deposit within its Golden Range project in Western Australia.

Managing Director Amanda Buckingham shared the company’s plan to move the project forward with a three-fold strategy that includes finding more gold at Ricciardo, stepping out at the Golden Corridor and looking for additional resources.

“We will drill our main resource deposit called Ricciardo and then we will move out,” she said. "We have six deposits in what we are calling the Golden Corridor ... So we're (then) going to step out and drill into and below the resources in that corridor. And then the third important ingredient to our recipe for success is that we own 70 kilometres of the main belt, and we will go out looking for additional gold deposits along that main shear.

Keep reading...Show less
Alma Gold Announces Debt Settlement

Alma Gold Announces Debt Settlement

Alma Gold Inc. (CSE: ALMA) ("Alma Gold" or the "Company") announces that it has entered into debt settlement agreements (the "Settlement Agreements") to settle outstanding debts owed to creditors totaling $404,997.17 which includes outstanding fees owed to management and contractors working for Alma Gold (the "Debt Settlement"). Pursuant to the Settlement Agreements, the Company has agreed to issue an aggregate of 4,049,971 Common shares at a deemed price of $0.10 per Common share to settle the debts. Alma Gold anticipates closing the Debt Settlement on or about April 2, 2024.

Securities issued pursuant to the Settlement Agreements will have a statutory hold period of four months and one day in accordance with applicable securities laws.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
 INN Interview Highlights Prismo Metals' Exploration in Palos Verdes , Los Pavitos , and Hot Breccia  Projects

INN Interview Highlights Prismo Metals' Exploration in Palos Verdes , Los Pavitos , and Hot Breccia Projects

(TheNewswire)

Prismo Metals Inc.

Investing News Network( INN)

During the Prospectors & Developers Association of Canada (PDAC) convention, the Investing News Network (INN), a premier source for resource and mining news and investor education, filmed interviews with experts and CEOs of leading companies. In a recent CEO Interview published on InvestingNews.com, Mari-Len DeGuzman interviewed Alain Lambert, the Executive Chairman of Prismo Metals (CSE:PRIZ) at PDAC. Lambert discussed updates and strategic plans for the company's silver, copper, and gold projects, including the latest on their collaboration with Vizsla Silver and forthcoming exploration efforts.

Strategic Collaboration and Exploration at Palos Verdes

Lambert reminded viewers that Palos Verdes, a silver prospect in Mexico, stands as one of Prismo Metals' flagship properties. Surrounded by Vizsla Silver Corp. (TSXV:VZLA) territory, which encompasses the remainder of the district, Prismo benefits from a strategic relationship with Vizsla. Following a recent $34 million bought deal closure by Vizsla, Lambert highlighted their ongoing collaboration, which includes a technical committee aimed at exploring the district's northeast.

With three successful drilling campaigns under their belt, Prismo Metals is preparing for a robust exploration program into Palos Verdes. Lambert expressed excitement about the upcoming fourth drilling campaign, which will extend into Vizsla's already permitted property, promising further insights into the prospect's potential.

Los Pavitos and Hot Breccia: Expanding Exploration Horizons

In addition to Palos Verdes, Prismo Metals is making waves with their Los Pavitos gold prospect, spanning over 5,300 hectares in the Sonora State, Mexico. The first drilling campaign in 2023 yielded exceptional results, extending the prospective zone significantly. Plans for geophysics and further drilling later this year are in place to capitalize on these findings.

Moreover, Lambert shed light on the Hot Breccia copper project in Arizona, poised to capture investors' attention. Awaiting drilling permits, Prismo anticipates initiating exploration on this property, situated in the heart of Arizona's copper belt. With historical data backing its potential, the focus will soon shift to twinning old holes, exploring the vast copper resources.

Investment Appeal and Future Focus

Addressing investors at PDAC, Lambert confidently positioned Prismo Metals as a compelling investment opportunity, drawing parallels with recent successes in the space, such as Hercules Silver Corp. (TSXV:BIG). With high expectations for the Hot Breccia project and continued exploration at Palos Verdes and Los Pavitos, Prismo Metals is dedicating substantial resources to uncover the next significant discovery.

As Prismo Metals gears up for a year filled with promising exploration activities and strategic collaborations, Lambert's message to investors is clear: keep a close eye on Prismo Metals. With a strong exploration strategy and potential for significant discoveries, Prismo Metals represents an intriguing opportunity in the mining sector.

For more insights on Primso Metals check INN's exclusive profile of the company:

https://investingnews.com/stocks/cse-priz/prismo-metals/

For complete coverage of The Prospectors & Developers Association of Canada (PDAC) 2024 visit: https://investingnews.com/pdac/

About the Investing News Network:

The Investing News Network (INN) is a leading source of independent news and educational content for investors. Since 2007, INN has been providing breaking news, analysis and expert commentary on the latest developments in the resources and mining, tech, and life science sectors. With a global network of reporters and analysts, INN is committed to providing accurate, timely and actionable information to investors.

For more information, please visit the Investing News Network website at InvestingNews.com .

Contact:

Chris Smith

CSO

Investing News Network

+1 (604) 688-8231

csmith@investingnews.com

Copyright (c) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×