Japan Gold Corp. is pleased to announce it has signed a Joint Venture agreement with Koatsu Kogyo Corporation for three mining rights licenses, 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 ...

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 Manager

John 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 Licenses

Gravity-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 sporadically from 1916 until 1943 within the mining rights, however no production data is available. Quartz veins are mapped in various orientations, within broad clay alteration zones developed along north and northeast orientations. Large tabular sinter boulders are also reported around the workings, potentially indicating as at the Ohra mine area, the system may not be deeply eroded.

In the northern part of the Kowa workings, three significant quartz veins named the Miyashiro veins, have reported strike lengths between 100 to 450 meters, with widths between 0.3 to 0.9 meters. Sampling of these veins in the late 1960's gave grades between 3 to 28 g/t gold and 25 to 60 g/t silver2. Anomalous soil data reported by the Company in a news release dated 11th June, 2020, indicate these veins probably form part of the Ohra - Aira Yamada Mine vein trend, a gold and pathfinder element in-soil anomaly that extends northeast for greater than 2 kilometers beyond the Ohra Mine workings. Ten samples taken across the Tenshin veins in the central part of the Kowa workings, reported gold grades between 3.3 to 40.3 g/t from veins between 0.1 to 0.6 meters wide1.

As part of the Alliance regional assessment programs the Company will commence investigations of the Properties early in 2021 to evaluate prospectivity and definition of drill targets. The Mining Right status will facilitate more rapid permitting to support drilling and other more advanced exploration activities.


1 Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.
2 Kagoshima Prefecture (1967): Report on Gold & Silver Mines in the Takamine and Ohra District of Kagoshima Prefecture.

Qualified Person

The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.

On behalf of the Board of Japan Gold Corp.

"John Proust"

Chairman & CEO

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 32 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 recruited 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: 778-725-1491
Email: info@japangold.com

Cautionary Note

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 2020 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 laws.


Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5665/69431_a5cb37e8545f3a3f_001.jpg
Figure 1: Ohra-Takamine Project with joint venture Koatsu Kogyo Corporation mining rights, simplified geology and historic mine workings

To view an enhanced version of Figure 1, please visit:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5665/69431_a5cb37e8545f3a3f_002.jpg

Figure 2: Ohra-Takamine Project with joint venture Koatsu Kogyo Corporation mining rights, on Bouguer Gravity anomaly map. Gravity data presented is a compilation of both regional government and detailed Company survey data.

To view an enhanced version of Figure 2, please visit:

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69431

News Provided by Newsfile via QuoteMedia

Gold Mountain Updates Mineral Resource Estimate at the Elk Gold Property

Gold Mountain Updates Mineral Resource Estimate at the Elk Gold Property

Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(Frankfurt:5XFA) is pleased to announce an updated National Instrument 43-101 Mineral Resource Estimate following the conclusion of its Phase 2 drill program at the Elk Gold Project. An updated technical report will be filed on the Company's website and SEDAR within 45 calendar days of this disclosure

Keep reading... Show less

Best Gold Stocks on the TSX

Click here to read the previous best gold stocks article.

After reaching an all-time high last summer, the gold price has put out an underwhelming performance for much of 2021, leaving many investors wondering when it will take off again.

Values for the precious metal have failed to regain January’s momentum. Despite brief efforts in May and November, the gold price has struggled to stay above the US$1,800 per ounce mark.

For most of 2021, the yellow metal has battled a strengthening US dollar and gains in 10 year treasury yields. Investor risk appetite has also impeded growth for the safe haven asset.

Keep reading... Show less
Rockridge Announces Passing of Director Richard Kusmirski

Rockridge Announces Passing of Director Richard Kusmirski

Rockridge Resources Ltd. (TSX-V: ROCK ) (OTCQB: RRRLF ) (Frankfurt: RR0 ) ("Rockridge" or the "Company") announces with deep sorrow that a Director of the Company, Richard ("Rick") Kusmirski, P.Geo., M.Sc., passed away on Friday, Dec. 3 rd in Saskatoon, Saskatchewan, at the age of 68 after a lengthy illness. Rockridge wishes to extend our sincere condolences to his family, friends, and business associates. Rick was an accomplished exploration geologist with more than four decades of experience throughout the world but primarily focused in North America, specifically the Athabasca Basin. He has been an active member of the Saskatchewan mineral exploration and mining community for many years and will be dearly missed.

Rick actively participated in the discovery of a number of uranium, gold and base metal deposits, and for several years, in his capacity as Exploration Manager, he directed Cameco Corporation's uranium exploration projects in the Athabasca Basin. In 1999, Rick joined JNR Resources becoming Vice President of Exploration in 2000. Subsequently, he directed the exploration program that led to the discovery of the Maverick Zone on the Moore Lake uranium project with then partner Kennecott Canada. Rick later became JNR's President and CEO in January of 2001, and continued leading the company until February of 2013, JNR was acquired by Denison Mines Corp. by way of a friendly all-share take-over bid. Rick also served as the industry Chair and Director of the Exploration Section of the Saskatchewan Mining Association for many years and was a director of Rockridge Resources Ltd., Bessor Minerals Inc. and several other publicly traded companies.

Keep reading... Show less

Yamana Gold Receives Permit at Jacobina, Initiating Ramp Up of Phase 2 Expansion, Expects Fourth Quarter Company Wide Production to Exceed 270,000 GEO With Costs Tracking to Be the Lowest of the Year

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") is pleased to announce it has received the permit at its Jacobina mine to increase throughput to 10,000 tonnes per day ("tpd"). Throughput is expected to reach 8,500 tpd by the second quarter of 2022. At this processing rate production at Jacobina will increase through the second half of 2022 with a full year at a production level of 230,000 ounces per year beginning in 2023.

The Company is also reporting particularly strong operating performance from El Peñón and Cerro Moro, both of which were planned to have higher production in the last several months of the year as they sequenced into higher grade zones, all of which supports the Company's previous guidance that fourth quarter production will exceed 270,000 gold equivalent ounces ("GEO") (1 ) and annual production will exceed overall 2021 guidance of 1,000,000 GEO (1 ) . Fourth quarter all-in sustaining costs ("AISC") (2) are also expected to be the lowest of the year and are estimated to be approximately $980 per GEO (1 ) or lower, which is 7% below AISC (2) reported for the prior three quarters.

Keep reading... Show less

Newmont Announces Pricing of 2.600% Sustainability-Linked Senior Notes Offering

Newmont Corporation (NYSE: NEM, TSX: NGT) ("Newmont" or the "Company") announced today the pricing of its public offering of $1.0 billion aggregate principal amount of 2.600% sustainability-linked senior notes due 2032 (the "Notes"). Subject to customary conditions, the offering is expected to close on December 20, 2021. The offering is being made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission.

The Notes will be senior unsecured obligations of the Company and will rank equally with the Company's existing and future unsecured senior debt and senior to the Company's future subordinated debt. The Notes will be guaranteed on a senior unsecured basis by the Company's subsidiary Newmont USA Limited.

Keep reading... Show less
Candelaria to Webcast Live at VirtualInvestorConferences.com Dec. 8, 2021

Candelaria to Webcast Live at VirtualInvestorConferences.com Dec. 8, 2021

Candelaria Mining Corp. (TSX-V: CAND, OTCQX: CDELF) (the " Company ") would like to invite individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentation on VirtualInvestorConferences.com.

DATE: December 8, 2021
TIME: 7:30AM PST / 10:30AM EST
LINK: https://bit.ly/3d42UQf

Keep reading... Show less

Top News

Related News