Japan Gold Provides Update on the Barrick Alliance
Japan Gold Provides Update on the Barrick
Alliance
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2022) -
Japan Gold Corp. (TSXV: JG)
(OTCQB: JGLDF)
("
Japan Gold
" or the "
Company
") is pleased to provide an update on the progress
of the Barrick Alliance following the 6-month extension to its Initial Evaluation Phase in February 2022.
Thorough field and data reviews were completed by senior Barrick and Japan Gold personnel from May
to July this year across identified areas of high-prospectivity within the 29 project Barrick Alliance
portfolio. These comprehensive reviews will allow Barrick to decide on projects that meet their criteria for
advancement to the Second Evaluation Phase by August 31, 2022.
As part of the Barrick Alliance agreement, Barrick agreed to sole fund a 2-year Initial Evaluation Phase
of all 29 projects and sole fund a subsequent 3-year Second Evaluation Phase on projects which meet
their criteria. In February 2022, Barrick requested a 6-month extension to the two-year Initial Evaluation
Phase to August 31
st
due to delays and travel restrictions caused by the global Covid pandemic.
Barrick's criteria for project advancement requires the potential for a project to host either a Tier 1 or Tier
2 ore body. Tier 1 projects 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, Tier 2 projects have 3 million ounce or
greater potential with annual production of 300,000 ounces of gold for 10 years.
Following Barrick's decisions, Japan Gold will continue to provide full support and management of the
Alliance Second Phase Evaluation programs.
John Proust, Chairman & CEO commented, "
With the thorough evaluations completed by the Alliance,
the Company now holds a comprehensive and unique data set on Japan's epithermal-gold districts
and is positioned to advance areas of high-prospectivity which don't fit Barrick's criteria but can still
host large high-grade gold deposits.
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
For further information please contact:
John Proust
Chairman & CEO
Phone: +1 778-725-1482
Email:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/133099