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Japan Gold gains prospecting rights to historically prolific Aibetsu goldfield

Vancouver-based Japan Gold now controls nine prospecting rights comprising just over 2,900 hectares

Japan Gold -
The company holds 24 gold projects across Japan's three largest islands

Japan Gold Corp (CVE:JG) (OTCMKTS:JGLDF) announced Thursday that it now has prospecting rights over a historic gold district in northern Hokkaido. 

The exploration company said that the Japanese Ministry of Economy, Trade and Industry granted the rights to the Aibetsu Goldfield in the Kitami region of the country. 

Vancouver-based Japan Gold now controls nine prospecting rights comprising just over 2,900 hectares. 

READ: Japan Gold updates on its current exploration on Hokkaido and Kyushu islands

The company told shareholders that it “paves the way” for drill target definition over high-priority targets during the 2020 exploration season.

Aibetsu is home to three known hard rock and alluvial gold and mercury workings, the largest of which, the Tokusei gold mine, reportedly produced around 38,000 ounces of gold and 474,000 ounces of silver between 1930 and 1943.

Tokusei hosts around 20 epithermal veins that range between 22 and 425 metres (m) in length and are thought to be responsible for the mine’s former output. One vein on the property measures nearly 6.4 m width over a 140-metre strike length that averaged 17.7 grams per ton (g/t) gold and 20.4 g/t silver.

More recent drilling funded by the Japanese government intercepted 0.95 m grading 69 g/t gold and 263 g/t silver nearly 500 m northeast of Tokusei.

Japan Gold said it had identified numerous areas of anomalous gold in soil that highlights the prospectivity of the Tokusei mine extensions. It plans to investigate these anomalies as part of a drill program in 2020.

The company holds 24 gold projects across Japan's three largest islands: Hokkaido, Honshu and Kyushu.

Contact Angela at [email protected]

Follow her on Twitter @AHarnantas

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Price: 0.23 CAD

TSX-V:JG
Market: TSX-V
Market Cap: $32.22 m
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