Japan Gold defines five new targets with exploration at its Ohra-Takamine gold project
Thursday, 11 June 2020 Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) unveiled further encouraging results from surveys at its Ohra-Takamine gold project in southern Kyushu, where it has now defined five new exploration targets. The firm holds over 30 projects across Japan's three largest islands - Hokkaido, Honshu and Kyushu - and Ohra-Takamine lies in a highly prospective gold district and hosts five historic gold mines - Matsuno, Urushi, Takamine, Ohra, and Aira Yamada. More than 11 million ounces has been produced from the region so far. READ: Japan Gold says new exploration results from Ohra-Takamine gold project "very encouraging" "The definition of these new exploration targets, revealing both strike extensions to the known mines, and new parallel zones, is highly encouraging and validates our exploration methodology," said John Proust, the chairman and CEO at Japan Gold. "These results further support our CSAMT defined geophysical targets. We will now rank all targets and advance the first phase of our scout drilling program." Permits previously received from for the Ohra-Takamine project will allow drilling to begin shortly, the firm said, while permitting for drill holes to test the other new targets is in progress. The five new anomalous exploration targets define strike extensions, up to 2.5 kms long. They lie northeast of the Ohra mine and new parallel zones within the mine corridor area. Deeper structures interpreted from processed gravity and other data coincide with the geochemical and alteration anomalies and potentially define the location and geometry of mineralized faults, added Japan Gold. On June 1, the group said it had raised over C$7.5 million as it closed a second and final tranche of an oversubscribed placing for C$5 million, which will be used for exploration in the east Asian country. Also in June, the group announced the start of a huge exploration program in Japan as part of the Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) alliance, announced in February this year, to jointly explore, develop and mine properties in the country. The junior will be the operator of the work, which includes stream sampling and gravity surveys, which will progress from the south to the north of Japan. It is expected to be completed within a year. Contact the author at [email protected]
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