Japan Gold and Barrick Alliance begin second 2025 drill program, Japan

Japan Gold Corp. [TSXV: JG; OTCQB: JGLDF] reported the launch of its second 2025 drill program under the Barrick Alliance, with drilling underway at the Ebino Project, located in the southern Japanese island of Kyushu. The Ebino drill program consists of three drill holes totalling approximately 1,300 metres to test the Otsuka and Kuwanoki-Zuri (KZ) targets located within the Hokusatsu district, which has produced more than 13 million ounces of gold from several mines and remains one of the most prospective regions in Japan.

The Ebino drill program is fully funded by Barrick Mining Corp. [NYSE: B; TSX: ABX] through its alliance with Japan Gold. A joint Japan Gold/Barrick technical committee oversees the work programs.

Chairman and CEO, John Proust, commented, “As drilling was underway at the Barrick Alliance Hakuryu Project in the northern island of Hokkaido, our team simultaneously prepared for the second Barrick Alliance drill program at the Ebino Project in southern Japan, proving our capabilities to successfully manage multiple projects. Drilling at Ebino aims to test the potential for concealed epithermal veins systems under cover of volcanic material to the north of the Hishikari Mine and to further unlock the district-scale potential of the Hokusatsu region. This area has been under explored since the discovery of the high-grade Hishikari deposit in 1981, and we have worked closely with the Barrick technical team to identify robust targets for drill testing with the potential to host concealed orebodies.”

The Ebino Project is located within the Hokusatsu district of the Southern Kyushu Epithermal Gold Province. The district contains Sumitomo Metal Mining Co., Ltd.’s, Hishikari Mine and three major historic gold mines, Kushikino, Yamagano and Ohkuchi. The Hishikari Mine, with approximately 9Moz of past production and 5Moz current reserves, is a concealed orebody discovered in 1981. Hishikari is one of the world’s highest-grade gold mines and currently Japan’s only active large-scale producing gold mine.

Ebino is located approximately 10km north of the Hishikari Mine and approximately 8km east of the historic Ohkuchi Mine. Historic exploration completed mainly by the Metal Mining Agency of Japan confirmed the presence of three distinct alteration areas – Otsuka, KZ and Masaki. Limited historic drilling has been undertaken within the alteration zones.

The Barrick Alliance recently completed a program of target generation over the three alteration areas including stream sediment, soil and rock chip sampling, mapping, ground magnetics and an IP survey.

Mapping at Otsuka and KZ confirmed an extensive alteration system, which is capped by volcanic material. The alteration system sits within a favourable NE and E-W structural corridor, spatially associated with rhyolite/dacitic domes and discrete gravity highs. The alteration system is comprised of smectite-illite clays.

Ground magnetic survey suggests the alteration area associated with Otsuka and KZ is greater than mapped, with a zone, 3 km x 3.6 km of magnetic destructive alteration centred over the two targets. In places, low level pathfinder soil geochemistry is present, including an extensive low level Hg soil anomaly (>0.5ppm Hg) covering the Otsuka and KZ alteration zones. Most of the Otsuka and KZ alteration zones have not been drill tested.

The Otsuka and KZ alteration and associated pathfinder anomalies may represent the upper levels of a low sulphidation epithermal system, with potential for veins developed at depth.

Three holes, two at Otsuka and one at KZ, are proposed to be drilled to assess the potential for development of epithermal quartz veins at depth.

This first phase of drilling will not test the Masaki alteration zone as based on the work conducted to date, the Masaki alteration is interpreted to be high sulfidation related and requires further investigation. Work to define drill targets within the Masaki area is ongoing.

Japan Gold Corp. is focused on the exploration and discovery of high-grade epithermal gold deposits across the main islands of Japan. The company holds a significant portfolio of tenements covering areas with known gold occurrences, history of mining and prospective for high-grade epithermal gold mineralization in one of the most stable and under explored countries in the world. The Japan Gold leadership and operational team of geologists, drillers and technical advisors have extensive experience exploring and operating in Japan and have a track record of discoveries world-wide. Japan Gold has an alliance with Barrick Gold Corp. to jointly explore, develop and mine certain gold mineral properties and mining projects with the potential to host Tier 1 or Tier 2 gold ore bodies in Japan. Significant shareholders include Equinox Partners Investment Management LLC and Newmont Corp.