Dec 2 2016
Japan Gold Corp. (TSX VENTURE:JG) ("Japan Gold" or the "Company") is pleased to announce that the Japanese Ministry of Energy, Trade and Industry ("METI") has granted Japan Gold's wholly owned subsidiary, Southern Arc Minerals Japan KK ("SAMJ"), prospecting rights ("PR") over its nine contiguous applications covering the Eboshi project in northern Honshu. The location of this project, totalling 3,080 hectares, is shown in Figure 1.
The Eboshi project is centred over an area of intermediate volcanic rocks which show the development of extensive zones of advanced argillic alteration and occurrences of residual-vuggy silica. Such styles of alteration are characteristic of "Lithocaps", large hydrothermal alteration systems interpreted as forming in the vicinity of magmatic intrusions which are often associated with porphyry-copper and high-sulphidation epithermal styles of mineralisation.
Along the northern part of the NE Japan Arc (northern Honshu and southwest Hokkaido) several areas of extensive lithocap development have been recognised by the Geological Survey of Japan. SAMJ has had PR applications accepted over four of the documented lithocaps at Eboshi, Minamikayabe, Kobui and Ponkutosan (Figure 1).
Although porphyry-copper type mineralisation has not yet been identified in Japan, due to the country's position on the Pacific-rim and the recognition of lithocap styles of alteration, Japan Gold considers the Japanese volcanic arcs to be prospective for porphyry-copper deposits.
During the 2017 field season SAMJ plans to complete detailed geological and alteration mapping of the Eboshi lithocap as well as a high resolution aeromagnetic survey in order to establish drill targets to test for blind porphyry style mineralization beneath the Eboshi lithocap. It is anticipated that drilling proposals will be submitted to METI with the aim of drilling in the second half of 2017.
John Proust Chairman and CEO of Japan Gold commented, "We are very pleased to receive our first conversion of applications into Prospecting Rights. This demonstrates that Japan Gold can successfully navigate through the Japanese permitting process and bodes well for future PR awards authorizing advanced exploration and drill programs within all the Company's other 8 project areas."
Source: http://japangold.com/