Japan Gold (TSXV:JG)(OTCQB:JGLDF) (“Japan Gold” or the “Company”) announces that mobilization and drill preparations are nearing completion at two priority gold targets.
The Japanese Ministry of Economy, Trade and Industry (“METI”) is currently processing drill permits for the Ohra-Takamine Project on Kyushu and the Ikutahara Project on Hokkaido.
The Ohra-Takamine Project drill program is on schedule to commence in June and will drill under and along strike of three historic mines in the central area of the Project. Permitting for this 2,100 metre, Phase 1 drill program is being finalized and the Company anticipates receiving the drill permit soon.
The Ikutahara Project drill program, focused on the Kitano-o Prospect, is now expected to commence in July. Permitting for this 3,000 metre, Phase 1 drill program is near completion. Prior to METI issuing the drilling permit, consent is required from the regional forestry office and the Hokkaido government, these authorities are currently expediting granting of permits. The scale of the Company’s drill program and required permitting are largely unprecedented in protected forest and have entailed comprehensive procedures.
John Proust, Chairman and CEO, commented, “The Company is well positioned to execute its drilling program in Hokkaido and Kyushu this summer. The extensive permitting process required for approval of drilling activity in protected forest has been a valuable experience for the Company and bodes well for future activities.”
Additional drill locations at both projects, are being permitted concurrently to allow for immediate follow-up drilling contingent on assay results from Phase 1.
Permitting for 3,650 metres of drilling at the Ryuo Prospect in the Ikutahara Project, will also be progressed during the first half of 2019.
Four drill rigs are in place to facilitate the Company’s current exploration drilling plans. These drill rigs comprise two PMC400 and two PMC700 diamond core drill rigs with depth capabilities of 400 metres and 700 metres, in NQ core size, respectively. The compact nature of these drill rigs allows for rapid mobilization and set-up.
The Company will operate the drill programs from its project exploration bases in Hokkaido and Kyushu. Drilling will be conducted via co-operation of the Japanese company Welltech LLC and the Company’s experienced international drillers.
On behalf of the Board of Japan Gold Corp.
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company holds a portfolio of 12 Gold Projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. The Company also holds a portfolio of 5 Lithocap Projects which could indicate the presence of porphyry mineralization. Japan Gold’s leadership team has decades of resource industry and business experience, and the Company has recruited geologists and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at email@example.com.
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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 and the Company’s 2019 gold exploration program. 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 law.