Japan Gold Announces Arrival of its Diamond Drill Rigs at Ikutahara, Japan
VANCOUVER, British Columbia, Aug.14, 2017(GLOBE NEWSWIRE) -- Japan Gold Corp. (TSX-V:JG) (OTCQB:JGLDF) ("Japan Gold" or the "Company") is pleased to announce that the Company's three compact portable diamond core drill rigs have arrived at Japan Gold's base of operations in Ikutahara.
John Proust, Chairman and CEO of Japan Gold, commented, "The arrival of our compact diamond core drill rigs at the base of operations in Ikutahara is a positive step towards becoming a fully operational explorer in Japan. The Company sees significant time and cost saving benefits in owning its own drill rigs. Our first drill program will commence upon receipt of the requisite drilling permits."
The Drill Rigs
As announced on June 1, 2017, Japan Gold purchased three portable diamond core drill rigs from PT. Promincon Indonesia. Due to the low levels of mineral exploration carried out in Japan in recent years, there is very limited availability of drill rigs suitable for mineral exploration in country. Acquisition of the two PMC400 drill rigs and one PMC700 drill rig will give the Company independence and flexibility on the timing and execution of its drill programs. The compact nature of these diamond core drill rigs allows for rapid set-up, move and the remediation of drill sites. They also have a smaller environmental footprint when compared to conventional equipment. The drill rigs have been proven and tested in similar geological environments. The PMC400 and the PMC700 drill rigs can core-drill to depths of over 400 meters and 700 meters in NQ core size respectively.
The Drilling Contract
As previously announced, Japan Gold has engaged Sumiko Resources Exploration & Development Co., Ltd. ("SRED") to manage its drilling programs in Japan and operate the Japan Gold drill rigs. SRED is a wholly owned subsidiary of Sumitomo Metal Mining Co., Ltd., a major non-ferrous metal mining and smelting company based in Japan. SRED offers consulting services for resource exploration and environmental investigation using geological, geophysical exploration and related technologies including drilling. SRED was instrumental in the prospecting, development and exploitation of the Hishikari Mine, Japan's largest and highest grade operating gold mine.
On behalf of the Board of Japan Gold Corp.
"John Proust"
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration in Japan. The Company has applied for 180 prospecting rights licenses in Japan for a combined area of 59,606 hectares over twelve separate projects. Thirty-two of the applications have been granted as Prospecting Rights. The applications cover areas with known gold occurrences and a history of mining, and are prospective for both high-grade epithermal gold mineralization and gold-bearing lithocaps, which could indicate the presence of porphyry mineralization. Japan Gold's leadership team has decades of resource industry and business experience, and the Company has recruited geologists 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.
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 that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
Japan Gold Contact John Proust Chairman & CEO Phone: 778-725-1491 Email: info@japangold.com