JAPAN GOLD CORP.
Investment in Japan Gold Corp.
Southern Arc holds a 53.06% interest in Japan Gold. (TSX-V: JG) (OTCQB: JGLDF)
Japan Gold's project portfolio consists of 17 projects over 69,505 hectares on three main islands of Japan, Hokkaido, Honshu and Kyushu.
Thirteen of the projects cover areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization.
Four of the projects, in southern Hokkaido and northern Honshu, are located over gold-bearing lithocaps, which may 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.
A drilling permit has been granted and an initial scout drilling program was completed at the Akebono prospect at the Ikutahara Project in December 2017. Initial drilling results support the presence of high grade gold shoots in the Akebono vein system previously indicated by historic sampling of underground workings.
Japan Gold has generated other compelling drill targets, focusing on high grade epithermal veins in and around historic mines and workings, and will seek to rapidly progress these targets to the permitting phase so that they can be drill tested in 2018.
Japan hosts one of the world’s highest grade gold mines, the Hishikari mine which produced over 7 million ounces of gold between 1958-2017 at an average grade of 30-40 g/t Au and still produces today. Despite a history of significant production, with many million-plus-ounce gold deposits, the region is regarded as largely underexplored.
Southern Arc's leadership team has long recognized Japan's prospectivity for gold, silver and copper.Further to its diversification strategy announced in December 2012, when Japan's mining laws were changed in 2012 to re-activate the mining industry, Southern Arc moved quickly to review historical data and identify key exploration targets. Southern Arc was the first foreign exploration company to apply for prospecting rights and did so through its subsidiary, Southern Arc Minerals Japan KK ("SAMJ").
Based on a desktop review of historical gold production and Japan's extensive geoscientific database, Southern Arc was able to pinpoint areas that are very compelling from a geological perspective. In 2015 and early 2016 SAMJ lodged 80 prospecting rights applications comprising 27,153 hectares over eight projects targeting high-grade epithermal gold and areas of gold-bearing advanced argillic alteration, which could indicate the presence of a porphyry mineral environment.
In July 2016 Southern Arc signed a letter of intent to sell its Japanese subsidiary Southern Arc Minerals Japan KK ("SAMJ"), which held the prospecting license applications, to Sky Ridge Resources.
In September 2016, Southern Arc Minerals Inc. vended SAMJ to Sky Ridge Resources Ltd. As part of the transaction, Sky Ridge Resources completed a private placement financing at C$0.20 per share for gross proceeds of C$7,000,000. Upon closing of the transaction, Sky Ridge Resources consolidated its shares on a one-for-two basis, changed its name to Japan Gold Corp., and commenced trading on the TSX Venture Exchange under the symbol "JG”.
Southern Arc became the largest shareholder (42.9% interest) in Japan Gold Corp., the first mineral exploration company to focus solely on Japan.
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