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Japan Gold Intersects High-Grade Veins in First Drill Holes at the Ryuo Prospect

Vancouver, British Columbia–(Newsfile Corp. – September 14, 2021) –  Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased…

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Vancouver, British Columbia--(Newsfile Corp. - September 14, 2021) -  Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to report high-grade gold-silver intercepts from its first drill holes at the Ryuo Prospect, within the Ikutahara Project, Figure 1. The Ikutahara Project is 100% held by Japan Gold and is not included in the Barrick Alliance.

The Ryuo Prospect hosts five areas of workings along a 1 km open ended trend of alteration and mineralization that were developed prior to the government-imposed closure in 1943. Three initial scout drill holes totaling 828.3 m were completed between May and July 2021. Figure 2 shows the geology of the Ryuo Prospect area, the location of the completed drill holes and the pads permitted for future drilling. Table 1 summarizes the drilling results.

Drill hole IKDD21-001 targeted down-dip extensions of high-grade gold-silver mineralization historically mined at the Jinja Vein. A broad mineralized interval was encountered (reported as downhole intervals) with the following results:

                                4.9 m @ 12.1 g/t Au & 33.0 g/t Ag from 60.6 m

                                      (incl. 0.9 m @ 18.4 g/t Au & 115.8 g/t Ag from 60.6 m)

                                      (and 1.95 m @ 20.5 g/t Au & 21.0 g/t Ag from 63.55 m)

                                      (incl. 0.55 m @ 59.4 g/t Au & 49.5 g/t Ag from 63.9 m)

                                      (incl. 0.25 m @ 125.0 g/t Au & 97.0 g/t Ag from 64.2 m)

The intersection in IKDD21-001 shows that high-grade gold and silver mineralization remains open to depth below the Jinja Vein workings and, having a true width of 4.74 m, is significantly wider than average vein widths reported historically in the underground workings (See Figures 3 and 4).

The intercepted vein zone exhibits multiple phases of hydrothermal brecciation, quartz and quartz-sulphide veining, including ginguro banding. The quartz vein textures are very fine-grained or chalcedonic, indicating the quartz veining is still high in the hydrothermal system and that mineralization should persist to depth.

Drill hole IKDD21-003, located 550 m southwest of IKDD21-001, on a separate parallel structure, targeted mineralization below the Ryuei historical workings. Four separate zones of hydrothermal breccia up to 20 m in down-hole width were intersected down the length of the 350 m drill hole (Figure 5). Zones of fine-grained or chalcedonic quartz and quartz-sulphide vein-fill within the breccias included the following mineralized intercepts (reported as downhole intervals):

                                2.12 m @ 6.3 g/t Au & 12.6 g/t Ag from 81.2 m

                                      (incl. 1.32 m @ 8.9 g/t Au & 17.6 g/t Ag from 81.55 m)

                                      (incl. 0.3 m @ 14.8 g/t Au & 27.8 g/t Ag from 81.95 m)

                                 and

                                      0.5 m @ 3.1 g/t Au & 7.2 g/t Ag from 119.7 m

These multiple phases of hydrothermal brecciation, quartz and quartz-sulphide veining in IKDD21-003 may represent the upper, flared portions of an epithermal vein system which could possibly coalesce at depth (Figure 5). Elevated path-finder element geochemistry including antimony, arsenic, and mercury associated with the hydrothermal breccias supports this model.

Drill hole IKDD21-002 targeted the northeast strike extension of the Shouei Vein and a coincident CSAMT resistivity geophysical anomaly, Figure 2. The drill hole failed to intersect a significant vein zone apart from a narrow quartz-stockwork / faulted zone which is interpreted as the northeast extension of the Shouei structure. Workings at the Shouei Vein were as extensive as those at the Jinja Vein, but no detailed underground sampling data exists. Historical reports however indicate two parallel veins were exploited at Shouei with shoots that carried gold and silver grades comparable to those at the Jinja Vein1,2. Based on the drill result at the Jinja Vein, 300 m to the northwest, further drilling will be required to test down-dip and southwest strike extensions of the Shouei Vein which remain open.

"The initial drill holes at Ryuo have confirmed wide, high-grade vein mineralization is continuous below the historical workings closed in 1943. The Ryuo prospect has never been drilled and these initial results provide strong encouragement to continue drilling at Ryuo, and the other similarly under-explored Ikutahara prospects." Commented, Japan Gold's Vice President of Exploration, Andrew Rowe.

Additional Drilling

Drilling recommenced on the 6th of September to test the lateral strike extensions of the intercept in IKDD21-001 at the Jinja Vein. A second drill rig is targeting a vertical CSAMT resistivity anomaly that lies below the Taisei workings. Up to five additional drill holes are planned to be completed by the end of November at the Ryuo Prospect.

Table 1: Significant Mineralized Intercepts

Drill Hole NumberFrom (m)To (m)Interval (m)True Width (m)Au(g/t)Ag(g/t)
IKDD21-00160.6065.504.904.7412.133.0
including60.6061.500.900.8718.4115.8
and63.5565.501.951.8920.521.0
including63.9064.450.550.5359.449.5
including64.2064.450.250.24125.097.0
IKDD21-002No Significant Intersections
IKDD21-00381.2083.322.12- 6.3212.6
including81.5582.871.32- 8.9417.6
including81.9582.250.30- 14.7527.8
119.70120.200.50- 3.057.2

 

The Ryuo Prospect

At the Ryuo Prospect, five areas of workings were developed along a 1 km long, open ended trend of alteration and mineralization prior to the government-imposed closure in 1943. Underground sampling carried out in the 1950's in the Jinja Vein workings revealed high-grade gold-silver mineralization including 'level 4' of the workings, which was sampled along a 72 m strike length giving an average grade of 40.8 g/t Au and 193 g/t Ag, average vein width approximately 0.5 m. Figure 3 illustrates a long-section of the Jinja vein workings with the underground sampling reported by the Metal Mining Agency of Japan (MMAJ)3 and the IKDD21-001 vein pierce-point. High-grade gold/silver quartz veins were mapped on all four of the lower levels of the Jinja vein system. Chip-channel samples were collected across the veins at intervals spaced between 0.3 m and 4.7 m along strike.

Refer also to the Company's news release dated May 26 ,2021 and Feb. 9, 2017, for more information on the Ryuo Prospect.

Table 2: Drill hole data

Drill Hole No.LocationEastingNorthingRLAzimuthDipLength
IKDD21-001Jinja700403487342619430541228.3
IKDD21-002Shouei700698487327125733545250.0
IKDD21-003Ryuei700137487296025634040350.0
TOTAL828.3

1 Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.
2 Bamba T. & Saito M., 1956. Geology and Gold-silver Deposits of the Kitano-o and Several Other Mines, Ikutahara Gold Mining District, Kitami Province, Hokkaido. Geological Survey Institute Monthly Report Volume 10. No. 7.
3Metal Mining Agency of Japan, March 1990, Geological Survey Report for Fiscal Year 1989, Northern Hokkaido Area B-Metalliferous Deposits Overview.

On behalf of the Board of Japan Gold Corp.

"John Proust"

Chairman & CEO

Qualified Person

The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration and Country Manager, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.

Note: The Company's compilation of underground sampling data at Ryuo has been based on data published by the MMAJ and the Company has not resampled the underground workings or re-assayed samples. The MMAJ report does not refer to QA/QC protocols followed historically.

Sampling Techniques and Assaying

The drilling results discussed in this news release are from drill core samples obtained by PQ, HQ and NQ-size triple-tube diamond core drilling using a PMC700 and PMC-400 man-portable drill rigs owned and operated by the Company. The drilling program was fully supervised by Company senior geologists at the drilling site.

Drill core was collected in plastic core-trays at the drill site and transported by road in Company vehicles to its core shed storage facility in the nearby Ikutahara Village, located centrally within the project area. The drill core was carefully logged, photographed and sample intervals marked-up along predicted mineralized and selected unmineralized intervals by Japan Gold KK senior project geologists and VP Exploration.

Sample lengths varied from 0.1 to 1.0 m; depending on the positions of geological contacts and variations in vein texture and composition. The core was split by diamond rock saw supervised by project geologists. Half-core sample was collected from the entire length of each designated sample interval and placed into individual-labelled, self-sealing calico bags for secure packaging and transport to the laboratory. The half-core samples weighed between 0.2 to 5 kg depending on the sample length and core size. A Chain-of-Custody was established between the Company and receiving laboratory to ensure the integrity of the samples during transportation from site to the lab. The samples were sent in batches to ALS Laboratories in Vancouver, Canada for sample preparation and assaying.

Samples were crushed, pulverised and assayed for gold 50 g charge Fire Assay/ AAS Finish (Au-AA24; 0.005 ppm lower detection limit) and a 48 multi-element by 4-acid digest with ICP-MS determination (ME-MS61L; Ag 0.002 ppm lower detection limit). Over-limit Au and Ag samples were re-assayed by fire-assay and gravimetric finish (GRA-22, LDL of 0.5 and 5 ppm for Au and Ag respectively).

Certified Reference Materials (CRMs) were inserted by Japan Gold KK at every 20th sample to assess repeatability and assaying precision of the laboratory. In addition, the laboratory applied its own internal Quality Control procedure that includes sample duplicates, blanks & geochemical standards. They report these results with the certified Assay Report. Laboratory procedures and QAQC protocols adopted are considered appropriate. The CRMs and internal QC-QA results fall within acceptable levels of accuracy & precision and are considered to lack any bias.

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 31 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the Company has recruited geologists, drillers and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com

For further information please contact:

John Proust
Chairman & CEO
Phone: 778-725-1491
Email: info@japangold.com
Website: www.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 2020 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, 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 timing and granting of prospecting rights; 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.

 



Figure 1: Ikutahara Project, simplified geology and historical mines and workings.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5665/96462_ad4ce5992448abb1_001full.jpg

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/09/317e89617594f71d207ead1ff054ea67.jpg

Figure 2: Ryuo Prospect, alteration map with historic workings, drill holes completed and in-progress, permitted drill pads and gold in rock chip values

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5665/96462_ad4ce5992448abb1_002full.jpg

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/09/7ddbee1838189795978a4a0d78c4ce91.jpg

Figure 3: Jinja Vein workings long-section with composited back sample intervals from 1950's sampling and pierce point of IKDD21-001 mineralized intersection

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5665/96462_ad4ce5992448abb1_003full.jpg

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/09/5cb0c2975c7c65fe7f4626c16ddf62b4.jpg

Figure 4: Cross section of drill hole IKDD21-001 on the Jinja Vein with mineralized intercepts, section looking northeast.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5665/96462_ad4ce5992448abb1_004full.jpg

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/09/8ea9b275853e1fb267a23ea7b7d8b2ea.jpg

Figure 5: Cross section of drill hole IKDD21-003 on the Ryuei structure with mineralized intercepts, section looking northeast. Hydrothermal breccias and vein fill may coalesce at depth, this concept will be the target of ongoing drilling.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/5665/96462_ad4ce5992448abb1_005full.jpg

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Today’s News

Granada Gold Mine Extends Warrant Terms

 

Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…

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Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant.

 

The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.

 

About Granada Gold Mine Inc.

 

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

 

The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.

 

The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings.  In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.  

 

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

 

For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342

  

Or:

 

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

  

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…

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Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.

The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.

Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635

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Today’s News

Commerce Resources Corp. Announces Warrant Extension and Repricing

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…

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VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed REC and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Commerce Resources Corp.



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