Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) (FRA:2LD) reported results from three scout drill holes at its Ohra-Takamine project on the island of Kyushu, which has underscored the exploration potential of the property.
The holes hit arrow high-grade gold vein intercepts below the Urushi mine and multiple gold-anomalous quartz vein zones below the Ohra mine workings.
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The holes were drilled along a 3.5 kilometres corridor of alteration and epithermal-gold mineralization defined by the historic Ohra, Takamine and Urushi mines, which the Japanese government closed in 1943.
One hole, which was targeting the down dip extension of the Urushi mine hit seven narrow, gold-anomalous quartz veins. A highlight intercept included 0.35 metres (m) at a grade of 21.7 grams per ton (g/t) gold and 13 g/t silver from 233.95m.
A second hole drilled from the north side of the Ohra mine, intersected a 4.5m wide quartz vein from 227m downhole, noted Japan Gold.
A third hole, targeting beneath the Ohra Mine workings, intersected numerous broad intervals of intense alteration and quartz veining from a downhole depth of 206m to end-of-hole at 584m.
"The discovery of new vein zones with limited or weak surface outcrop in the vicinity of the Urushi mine as well as between the Ohra and Takamine Mines, gives encouragement for the exploration potential both along the trend and below cover further along strike to the southwest, where coincident soil and CSAMT anomalies are partly concealed by younger post-mineral geology," the company said in the statement.
It added that it has 11 additional pad locations permitted for drilling along the central mine corridor.
"With the definition of these new target zones, further drill pads will be permitted to properly test and advance the Ohra-Takamine project," it said.
Japan Gold Corp is focused on gold exploration at the three largest islands of Japan: Hokkaido, Honshu and Kyushu. It also has a country-wide alliance with Barrick Gold Corporation (NYSE:GOLD) (FRA:ABR) to jointly explore, develop and mine certain gold mineral properties and mining projects.
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