Japan Gold Focuses Its Project Portfolio Following Extensive Review
Rhea-AI Summary
Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) has completed a six-month review of its project portfolio, resulting in a strategic reduction from 35 to 26 projects in Japan. The review, led by President and COO Fraser MacCorquodale, aims to focus resources on priority exploration targets. The company has identified multiple gold exploration targets in the Kitami metallogenic province, Noto Peninsula, and Middle and Southern Kyushu epithermal gold provinces.
Japan Gold holds the largest prospective land package in Japan, covering areas of gold occurrences. The company is advancing three priority projects under the Barrick Alliance. CEO John Proust emphasized that Japan Gold's decade-long data collection efforts are now being leveraged to accelerate the discovery process, focusing on the best prospects in regions hosting past and existing mines, including the world-class Hishikari Mine.
Positive
- Strategic reduction of project portfolio from 35 to 26, focusing resources on priority targets
- Holds the largest prospective land package in Japan
- Identified multiple gold exploration targets in key metallogenic provinces
- Advancing three priority projects under the Barrick Alliance
- Decade-long data collection efforts to accelerate discovery process
Negative
- Relinquishment of 9 tenements that did not meet target criteria
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2024) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce the completion of an extensive six-month review of its portfolio and resulting reduction from 35 to 26 projects from its holdings in Japan. The review was led by Mr. Fraser MacCorquodale, President and COO of the Company. The Company holds the largest prospective land package in Japan and has built a comprehensive framework of data for the evaluation of tenements covering areas of gold occurrences.
"We have a large tenement holding across the three main islands of Japan, and we needed to take a strategic approach to ground reduction in order to focus and prioritize our resources and advance Japan Gold exploration targets', said Mr. MacCorquodale. "The relinquished tenements did not meet our target criteria."
The Company has identified multiple gold exploration targets in the Kitami metallogenic province in North Hokkaido, the Noto Peninsula in Honshu, and in the Middle and Southern Kyushu epithermal gold provinces, where the Company has a dominant tenement coverage (see Figures 1-4). The gold mining regions are hosts of past and existing mines such as the world-class Hishikari Mine and where modern exploration activities are at an early stage for many prospects.
Mr. John Proust, Chairman and CEO of the Company, added, "Japan Gold has spent over a decade collecting the data that is required to make discoveries. We are now focusing on our best prospects and concurrently advancing three priority projects under the Barrick Alliance. Fraser's depth of experience in analyzing epithermal gold deposits is accelerating the discovery process."
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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Figure 2
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Figure 3
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Figure 4
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222630
FAQ
How many projects does Japan Gold Corp (JGLDF) now have after its portfolio review?
Who led the portfolio review for Japan Gold Corp (JGLDF)?
What are the key areas where Japan Gold Corp (JGLDF) has identified gold exploration targets?
How many priority projects is Japan Gold Corp (JGLDF) advancing under the Barrick Alliance?
