Japan Gold Commences Drilling at the Saroma Prospect
Vancouver, August 17, 2022 - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce the commencement of drilling at the Saroma prospect, located within the 100% owned Ikutahara Project in Hokkaido, Japan.
An initial four scout drill holes have been planned at the Saroma prospect to test a 1 km long section of the Saroma vein. Mapping around the shallow historical workings at Saroma has identified vein zones up to 7 m wide of fine-grained colloform-crustiform-ginguro banded quartz veins. Drilling will target the deeper extensions of these shallowly mined ore shoots for higher-grade mineralization.
John Proust, Chairman and CEO stated "It is great to be drilling another new target from our vast portfolio of properties covering the most prospective epithermal regions of Japan. I am very encouraged by the results our exploration teams are delivering to identify further drill targets which may lead to future discoveries."
Saroma Prospect
Located approximately 4 km south of the Kitano-o gold mine, the historic Saroma, Taiho and Chitose gold workings were developed on epithermal veins that step along a northeast trending fault zone which extends for at least 3.5 km along the Saroma valley (Figure 1). Operated during the 1930's, records show the Saroma mine produced 13,189 tons of ore at an average grade of 9.7 g/t gold between 1933 to 19391. There are no production records from the Taiho and Chitose workings, however, records indicate that exploration and mining commenced in these latter two areas immediately prior to the 1943 gold mining moratorium.
The Company's field observations at the Saroma prospect show vein structures up to 7 m wide discontinuously exposed along a 1.5 km long strike zone. Texturally, the veins exhibit typical low-temperature fine-grained colloform-crustiform-ginguro banded quartz-adularia textures indicating good preservation of the epithermal system. Quartz veins at Saroma are hosted in Cretaceous basement sediments which form an excellent brittle host rock for veining and the significant strike extent and preservation of the epithermal system supports deeper drill-targeting for high-grade mineralization below the shallowly developed workings.
Reference
1 Metal Mining Agency of Japan, March 1990, Geological Survey Report for Fiscal Year 1989, Northern Hokkaido Area B-Metalliferous Deposits Overview.
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 Corp. 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
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 2022 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.
Figure 1: Saroma Project: simplified geology, historical mines and workings and 2022 scout drill program.
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