Japan Gold (TSX-V:JG) Corp has hailed the latest drill results from the Ryuo prospect at the company's wholly-owned Ikutahara project in Hokkaido, which continue to increase the company's understanding of the geology and high-grade mineralization in the area.
The prospect comprises of five areas named Jinja, Shouei, Taisei, Ryuei and Buryu, which were developed along a 1.2 kilometre (km) long, open-ended trend before the Japanese government-imposed closure in 1943.
"We are very encouraged by the recent findings at the Ryuo prospect," Andrew Rowe, the company's vice-president (VP) of exploration said in a statement concerning the results from seven holes.
"The combination of multiple high-grade vein structures with high-level vein textures and a well-preserved alteration system supports deeper drilling, particularly along strike to the southwest of the prospect.
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"We look forward to completing another round of drill holes to test these concepts before the end of this year," he added.
Among the highlight assays were one hole, which hit 0.75 metres (m) at a grade of 22.5 grams per ton (g/t) gold and 41.3 g/t silver from 276m. Another hole hit 0.40m at 19 g/t gold and 15.7 g/t silver from a depth of 280.95m.
Also encountered was 0.35m at 7 g/t gold and 22.10 g/t silver from 267.25m depth.
"The 2022 drill program has significantly advanced the understanding of geological controls and alteration zonation with respect to high-grade mineralization at Ryuo. Importantly, high-grade gold events have been identified along the length of the prospect in multiple parallel vein zones, and alteration studies prove the system is well preserved," the company said.
Japan Gold also highlighted that historical underground sampling at the Jinja vein workings had revealed high-grades, including at 'level 4', which was sampled along a 72m strike and yielded an average grade of 40.8 g/t gold and 193 g/t silver, with an average vein width of around 0.5m.
Eleven new prospecting rights were lodged to cover prospective ground to the north and west of the Ryuo prospect to ensure coverage of potential strike and parallel extension, it added.
The new applications comprising a total of 2,567 hectares (Ha) have now been accepted by the Ministry of Economy Trade and Industry, Hokkaido.
Contact the writer at giles@proactiveinvestors.com