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Japan Gold acquires new land in historic gold producing region in the Pacific country

The group said the new projects comprise a total of 23,400 hectares over 76 applications and covers prospective ground near current and past-producing gold mines

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Japan Gold said it now has a total of 18 gold projects in the country

Japan Gold Corp (CVE:JG) is gaining more ground in the Pacific nation after acquiring three new projects in the Southern Kyushu epithermal gold province.

The Vancouver-based company said the new projects comprise a total of 23,400 hectares over 76 applications.

Japan Gold now has a total of 18 gold projects in the country.

READ: New assays reveal high-grade gold at Japan Gold's Kitano-o prospect

The new land covers prospective ground near current gold mines such as the Hishikari mine which to date has produced 7.6 million ounces at average grades of 30 to 40 grams per ton (g/t) gold. Similar grades were mined at other projects in the region, including the Yamagano mine that produced nearly one million ounces at 17.4 g/t gold.

In total, the Southern Epithermal gold province has produced over 11 million ounces of gold.

The company said in a release that the Japanese Ministry of Economy, Trade and Industry has accepted the new applications, allowing Japan Gold to commence surface exploration.

In addition to the new licenses, Japan Gold told shareholders that it is shedding most of its copper-gold lithocap projects in the region. The company will retain ownership of the prospective Kamitsue project in Kyushu, host to a gold-rich porphyry system believed to have potential for shallow mineralizaton.

Earlier this week, the company reported that sample results from its Kitano-o project graded up to 60.8 g/t gold from the eastern side of the property, in a historical gold district in Japan.

In afternoon trading, shares in Japan Gold were 3.5% higher at $0.295.

 -- Adds share price --

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Japan Gold

Price: 0.34 CAD

Market: TSX-V
Market Cap: $60.65 m

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