Barrick Alliance Acquires New Project in the Kitami Metallogenic Province of North Hokkaido
Barrick Alliance Acquires New Project in the
Kitami Metallogenic Province of North
Hokkaido
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2023) -
Japan Gold Corp.
(TSXV: JG)
(OTCQB: JGLDF) (the "
Company
") is pleased to announce acceptance by the Japanese Ministry of
Economy, Trade and Industry ("METI") of 146 new prospecting rights applications which comprise the
Kamimuri Project. The Kamimuri Project covers an extensive 47,984 hectares of prospective ground
adjoining the west side of the Barrick Alliance Hakuryu Project and Japan Gold's Ikutahara and
Kanehana Projects, (
Figure 1
).
The Kamimuri Project
The Kamimuri Project covers a series of conceptual regional-scale structural exploration targets initially
proposed by the Barrick technical group and further advanced by the Alliance team. The project area
comprises a Miocene-Pliocene aged half-graben structure developed west of the main Monbetsu-
Rubeshibe graben and hosts five known historical gold-silver mine workings including Kamimuri, Muri,
and Taisei. A review of the district-scale aero-electromagnetic (AEM) survey completed by the Metal
Mining Agency of Japan (MMAJ) in 1989, identified multiple large-scale, up to 5 by 5 km coincident
resistivity and magnetic- depletion anomalies associated with major structural intersections. These
combined features are indicative of significant hydrothermal alteration systems and include those at the
Kamimuri, Muri and Taisei workings.
Kamimuri and Muri Workings
Gold mineralization at Kamimuri was initially recognised in the late 1930's. In early 1950's a 150 m long
cross-cut was developed to locate the source of scattered quartz boulders at surface which graded up to
36 g/t Au and 1,400 g/t Ag
1
, the excavation successfully intersected a 1 m wide quartz vein but no further
work was reported. At Muri, mineralization was discovered during forest road construction within a
rhyolite intrusion. Sumitomo Metal Mining completed 13 trenches in the early 1950's confirming Au-Ag
bearing zones up to 5 m wide along a 20 m exposure, rock outcrop samples were reported to up to 3.2
g/t Au and 8,993 g/t Ag
1
.
Follow up mapping by the MMAJ of the AEM anomalies at Kamimuri confirmed the presence of a zoned
alteration system with localised banded quartz float assaying up to 212 g/t Au and 567 g/t Ag
1
.
Prospect-scale work was initiated including a CSAMT survey which defined high-resistivity at depth
below the historical excavation and two closely spaced, shallowly inclined, 300 m deep drill holes were
completed below the historical cross-cut. Narrow veins were intersected in both drill holes with maximum
intervals of 5 cm @ 3.1 g/t Au and 10 cm @ 215 g/t Ag
1
.
No information has yet been located on the
other historical Au-Ag workings within the project area.
2023 Work Program
The scale of the AEM defined anomalies and their proximity to major structural intersections merits
further investigation based on the known gold-endowment and the under-explored nature of the province.
Initial visits by the Barrick Alliance team in 2022 confirmed alteration associated with the AEM derived
anomalies at the Kamimuri, Muri and Taisei workings. A BLEG sampling program followed by
reconnaissance mapping is planned for the second quarter of 2023 to further evaluate the scale of the
alteration system and potential for mineralization in the Kamimuri area initially.
Having been added to the Barrick Alliance following its formation, the Kamimuri Project will continue
under the Initial Evaluation Phase in accordance with the terms of the Alliance Agreement.
References
1
Metal Mining Agency of Japan, March 1990, Geological Survey Report for Fiscal Year 1989, Northern
Hokkaido Area B - Metalliferous Deposits Overview. Japan, Resource Geology, 46(3),
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 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
For further information, please contact:
John Proust
Chairman & CEO
Phone: 778-725-1491
Email:
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 2023 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
: Kitami Metallogenic Province, Omu-Kamikawa and Monbetsu-Rubeshibe Volcanic Zones and
Japan Gold and Barrick Alliance project portfolio
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