February 23, 2023
Japan Gold Corp. (TSXV:JG, BUY, C$1.00 target, Timothy Lee) announced results from 2022 work programs at the Kitano-o prospect, within or part of its 100%-owned Ikutahara project in Hokkaido (see map), northern Japan. The programs included a 1,710 ha soil geochemical survey, as well as three scout drill holes (2,035m) situated at the east side of the prospect. One of three holes designed to test depth extensions of veins in historical workings encountered 0.33 g/t Au and 0.98 g/t Ag over 7.2m, 24-31m from surface (IKDD22-015). JG intends to follow-up in this area as it believes the vein system could dip south and that this hole may have missed the target. The soil surveys (1,597 samples), conducted between 2020-2022, have identified three gold anomalous zones over 1.5km in strike that remain open and support pathfinder element and alteration signatures. The samples were collected along a 7km section that bounds the east side of the district, which historically produced >96,000 oz Au at an average grade of 5.9 g/t Au from the Kitano-o mine. Next at Ikutahara, Japan Gold intends to expand the soil grid to the open areas to the west and the south towards the Saroma prospect. With active 2023 exploration campaigns across its 2,920km2 portfolio of assets in Japan (read more), JG is well positioned to achieve success via its strategic alliance with Barrick (TSX:ABX, Not Rated), and its fully-owned projects, such as its Ikutahara project. Read more
Company Specific Disclosure Details
Japan Gold Corp. – TSXV:JG
- The analyst has visited the head/principal office of the issuer or has viewed its material operations.
- The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.
- In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer.
- In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration.
- An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly.
- Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities.
- A partner, director, officer, employee or agent of Red Cloud Securities Inc., serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer.
- Red Cloud Securities Inc. is a market maker in the equity of the issuer.
- There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer.
Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.