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Japan Gold kicks off 3,000 metre drill program at Kitano-o gold prospect

The Kitano-o prospect is a large swath of land that houses six historic gold mines which produced over 96,000 ounces of gold averaging a grade of 5.9 grams per ton

Gold outcrop at the Ikutahara project in Hokkaido, Japan
Japan Gold is planning to drill six holes totaling around 3,000 metres to test the western and central areas of a three-kilometre-long mineralized corridor

Japan Gold Corp (CVE:JG) (OTCMKTS:JGLDF) announced Thursday that it has kicked off a new drilling program at the company’s Ikutahara project in Hokkaido, Japan.

The new drill program will focus on the Kitano-o prospect, a large swath of land that houses six historic gold mines which produced over 96,000 ounces of gold averaging a grade of 5.9 grams per ton.

Shares of Japan Gold grew 3.5% on Thursday afternoon at C$0.30.

READ: Japan Gold gets its hands on prospective Togi Goldfield

Vancouver-based Japan Gold is planning to drill six holes totaling around 3,000 metres to test the western and central areas of a three-kilometre-long mineralized corridor.

"The start of our second drill program this year is another important milestone for the company,” said John Proust, CEO at Japan Gold.

“Simultaneous drill programs in Hokkaido and Kyushu, along with ongoing surface exploration programs, demonstrate the Japan Gold team's expertise and operational efficiency.”

Kitano-o figures prominently in the company’s 2019 exploration plans, largely due to the historic mines and workings in the area.

(Photo: Ikutahara Gold Project, Simplified Geology and Historic Gold Mines)

Part of the wider Ikutahara project that covers 17 historical gold mines and workings, the prospects were discovered and intermittently mined between 1910 and 1943. The project area has seen only limited exploration since that time.

Additional surface work at Kitano-o is currently focused on refining new drill targets at east Kitano-o, and the Toge and Asada prospects that lie on the property.

Last week, Japan Gold revealed it had acquired a new gold project, the Togi Goldfield on Honshu Island.

Simliar to Kitano-o, Togi houses historic mine workings that produced 48,000 ounces of gold between 1910 and 1921, including 16,500 ounces at 14 grams per ton of gold.

--Updated with share price--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.265 CAD

TSX-V:JG
Market: TSX-V
Market Cap: $37.13 m
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