Japan Gold Barrick Alliance Commences Drilling Program at Togi Project, Japan

Rhea-AI Summary

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) has commenced drilling at the Togi Project, one of three priority projects advancing under the Barrick Alliance. The first of two 500-meter drill holes is targeting strike extensions of the Mori vein along the Mori Fault at the Akasaka target. The drilling aims to explore potential mineralized extensions supported by sinter scree and quartz vein boulders with gold grades up to 79.7 g/t.

CSAMT geophysics highlighted resistivity features potentially representing epithermal veins. The historic Mori vein produced 16,500 ounces of gold at an average grade of 14 g/t, with reports of mineralization open at depth. The company is working closely with Barrick Gold technical advisors on this inaugural drill campaign in the historic Togi goldfield on Japan's Noto Peninsula.

Positive

• Commencement of drilling program at Togi Project, a priority project under Barrick Alliance
• Potential for high-grade gold mineralization, with historical grades up to 79.7 g/t gold in surface samples
• Historical production of 16,500 ounces of gold at an average grade of 14 g/t from the Mori vein
• Collaboration with Barrick Gold technical advisors for program design

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - September 23, 2024) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce that it has commenced drilling at the Togi Project, one of three priority projects advancing under the Barrick Alliance (refer to the Company's news release dated August 19, 2024).

The first of two 500-meter drill holes is currently underway at the Akasaka target where drilling is targeting strike extensions of the Mori vein along the prospective Mori Fault, Figure 1. Strike extensions to the northeast of the Mori vein are largely obscured by post-mineralization cover but evidence of potential mineralized extensions is supported by sinter scree, and quartz vein boulders and cobbles hosting gold grades up to 79.7 g/t gold, (refer to the Company's news release dated 22nd April 2021). Controlled Source Audio-frequency Magneto-Telluric (CSAMT) geophysics completed along a 2-kilometer section of the Akasaka target highlighted resistivity features potentially representing epithermal veins, which drilling is currently targeting.

The Mori vein within the Akasaka target produced 16,500 ounces of gold at an average grade of 14 g/t gold and is reported to be up to 4 meters wide, with gold values ranging between 8 to 20 g/t gold¹. Records show the mineralization at lower mine levels open at depth with average grades of 8.12 g/t gold and 56.9 g/t silver¹. Workings did not exceed 120 meters below portal level.

Mr. Fraser MacCorquodale, President & COO stated, "We are pleased to begin our inaugural drill campaign at Togi, located on the historic Togi goldfield on the Noto Peninsula of Japan's Honshu Island. We have been working closely with Barrick Gold technical advisors in designing this program and we are looking forward to the results of the drilling campaign."

Figure 1: Togi Project, simplified geology, geochemistry and drill hole location map.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5665/224136_44c54ea72428cbe8_001full.jpg

Reference

¹Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral exploration company focused on gold exploration across Japan. The Company holds a significant portfolio of tenements covering areas with known gold occurrences, history of mining and prospective for high-grade epithermal gold mineralization. The Japan Gold leadership and operational team of geologists, drillers and technical advisors have extensive experience exploring and operating in Japan and have a track record of discoveries world-wide.

Japan Gold has an alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects with the potential to host Tier 1 or Tier 2 gold ore bodies in Japan.

On behalf of the Board of Japan Gold Corp.
John Proust
Chairman & CEO

For further information, please contact:
Alexia Helgason
Vice President, Corporate Communications
Phone: +1 604-417-1265
Email: ahelgason@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 2024 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, the timing and granting of prospecting rights; the Company's ability to convert prospecting rights into digging rights within the timeframe prescribed by the Mining Act; 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 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224136

FAQ

What is the current drilling status at Japan Gold's Togi Project?

Japan Gold has commenced drilling at the Togi Project, with the first of two 500-meter drill holes currently underway at the Akasaka target.

What are the historical gold grades reported from the Mori vein at the Togi Project?

The Mori vein historically produced 16,500 ounces of gold at an average grade of 14 g/t gold, with gold values ranging between 8 to 20 g/t gold.

What geophysical method was used to identify potential epithermal veins at the Togi Project?

Controlled Source Audio-frequency Magneto-Telluric (CSAMT) geophysics was used to highlight resistivity features potentially representing epithermal veins along a 2-kilometer section of the Akasaka target.

What is the stock symbol for Japan Gold Corp. on the OTCQB?

Japan Gold Corp.'s stock symbol on the OTCQB is JGLDF.