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Japan Gold

Japan Gold gains ground in the Land of the Rising Sun

The company expanded its asset base in Japan with four additional prospecting licenses that extend the northern boundary of the Ikutahara project

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Japan Gold is one of the few junior companies exploring for gold in the Asian nation

Japan Gold Corp (CVE:JG) is expanding its asset base in the Land of the Rising Sun with four additional prospecting licenses that extend the northern boundary of the Ikutahara project.

The new licenses cover nearly 1,400 hectares to the north near historic workings at the Toge Hill, Asada Ridge and Akebono prospects and cover potential extensions to the prospects at the northern end of the Kitano-o gold district.

Kitano-o includes four historic gold mines and workings over a six- by three-kilometre area.

READ: Japan Gold kicks off its 2019 drill programs with Ohra-Takamine Project in Kyushu

"The discovery of the Toge and Asada prospects has significantly expanded the Kitano-o Gold District mineralization further to the north,” said CEO John Proust.

“The acceptance of the four new prospecting rights applications gives us confidence that we have covered all prospective ground in the area.”

In 2018, two new areas of significant quartz veining were identified at the Toge Hill and Asada Ridge prospects, extending Kitano-o to the north. Further drilling at the targets will test unconformity targets similar to those that host the Hishikari mine in Kyushu, Japan Gold said in a statement.

“This year, more detailed work is planned for the Toge and Asada prospects and will include soil sampling and possibly CSAMT geophysical techniques, if warranted, to further enhance drill targeting,” the company told investors in a release.

The Akebono prospect is located one kilometre along strike to the northeast of Toge and Asada and hosts high-grade gold sampled in underground workings including a 1.2-meter wide vein interval of 446 grams per ton gold and 376 grams per ton silver.

Japan Gold is also planning a 3,000 metre scout drilling program at Kitano-o later this month. The drill program is designed to target boiling zones in veins beneath the extensive eluvial surface workings.

Shares nudged up nearly 2% in Toronto to $0.26.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Japan Gold

Price: 0.255 CAD

Market: TSX-V
Market Cap: $35.73 m
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