At the Kamitsue project in Kyushu, Japan Gold has identified a previously undocumented lithocap which has indications of hosting a goldrich porphyry system.
The twelve prospecting rights applications at the Kamitsue Project in Kyushu have been converted to Prospecting Rights.
In October 2018, Japan Gold entered into a binding Letter Agreement with First Quantum Minerals Ltd. (TSX:FM) to explore four of its prospective lithocap projects. Pursuant to the terms of the Letter Agreement, FQML conducted a systematic surface exploration reconnaissance program on each Project with Japan Gold’s team acting as the Operators. The Letter Agreement was discontinued by FQML on April 4, 2019.
Japan Gold is encouraged by the early-stage data generated by FQML and believes that the Kamitsue lithocap project in Kyushu exhibits features of a gold-rich porphyry system, is inferred to have undergone the most erosion, and therefore is believed to have the best potential to host a relatively shallow mineralized porphyry intrusion.