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Post by Franko10 ™ on Oct 12, 2005 15:17:59 GMT -5
J-Pacific Intersects Gold Mineralization at HC Property in Nevada's Battle Mountain Trend-Drill Program Continues
16:08 EDT Wednesday, October 12, 2005
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2005) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce the results from the four hole, 5,235 foot (1,596 metre) reverse circulation drill program that commenced in late July on the HC property in the Cortez District of Nevada's productive Battle Mountain - Eureka Trend.
2005 RESULTS - HC 05-01 to HC 05-04
The HC property is an early stage project, which covers a 10,000 foot (3,000 metre) gold and mercury surface geochemical anomaly, located approximately three miles (five kilometres) southeast of the Buckhorn Mine on the south side of the Cortez Mountains along the prolific Battle Mountain-Eureka Gold Trend of northeastern Nevada. HC is proximal to the successful Cortez Joint Venture (Placer Dome/Kennecott), which includes the recently discovered Cortez Hills, Pediment and ET Blue deposits, as well as the Pipeline, South Pipeline, Gold Acres and Cortez mines. The exploration target is conceptually analogous to Newmont's Rain (Carlin Trend) deposit, where deep-seated structures channel mineralizing fluids to buried gold-bearing veins and near-surface gold-rich stockworks.
This phase of the 2005 drilling program, which concluded on September 17, consisted of four reverse circulation holes to depths of 1,235, 1,350, 1,330 and 1,320 feet (376, 411, 405 and 402 metres), for a total of 5,235 feet (1,594 metres), along 7,500 feet (2,300 metres) of the northwesterly trending geochemical anomaly. The four holes penetrated lithologic sequences very similar to that of HC04-1; the fifth planned hole was not drilled because of time constraints. Importantly, all holes terminated in silicified quartzites containing pyrite as disseminations and in stockwork veinlets. The gold values are generally associated with elevated arsenic, mercury and barium values, dolomitization, silicification and quartz-pyrite veinlets.
The significant gold intersections from the program are listed below. (Multi-element pathfinder analysis was also completed.)
--------------------------------------------------------------------
Intersection
DDH From To Length Length Gold Gold Interval
No. (feet) (feet) (metres) (g Au/t) (oz Au/t) Description
--------------------------------------------------------------------
HC05-1 295 300 5 1.5 0.166 0.005 Bleached
hematitic
siltstone
-------------------------------------------------------
HC05-1 300 305 5 1.5 0.358 0.012
--------------------------------------------------------------------
HC05-1 320 325 5 1.5 0.264 0.008 Fault zone
in hematitic
siltstone
--------------------------------------------------------------------
HC05-1 955 960 5 1.5 0.420 0.014 955-1030'
is a zone of
silicification
with quartz-
pyrite
veinlets and
dolomitization.
Pyrite is
present in
hairline
veinlets and
disseminations
throughout
this interval.
-------------------------------------------------------
HC05-1 995 1,000 5 1.5 0.648 0.021
-------------------------------------------------------
HC05-1 1,000 1,005 5 1.5 0.664 0.021
-------------------------------------------------------
HC05-1 1,005 1,010 5 1.5 0.107 0.003
-------------------------------------------------------
HC05-1 1,010 1,015 5 1.5 0.100 0.003
-------------------------------------------------------
HC05-1 1,015 1,020 5 1.5 0.100 0.003
-------------------------------------------------------
HC05-1 1,020 1,025 5 1.5 0.155 0.005
-------------------------------------------------------
HC05-1 1,025 1,030 5 1.5 0.377 0.012
--------------------------------------------------------------------
In addition, all drill holes (HC05-1 to HC05-4) encountered anomalous gold values ranging from 20 to 88 ppb gold; and anomalous mercury, arsenic, barium, molybdenum and zinc values, associated with dolomitization, which is interpreted to indicate the presence of a Rain Deposit type hydrothermal system, and assists in substantiating our geologic model. Drill logs, histograms and a drill location map are available at the HC property page on the J-Pacific website.
A detailed review of the drill logs and cuttings by senior Nevada consultant David Mathewson, RPG, concluded that the silicified quartzites intersected at the ends of the drill holes were probably near the base of the Woodruff Formation. Strong silicification, pervasive dolomitization, and gold values up to 664 ppb, associated with highly elevated trace element geochemistry, are present at this stratigraphic level, potentially intersecting mineralization related to the contact between the Webb-Devil's Gate formations, which is projected to occur a few hundred feet deeper.
Initial drilling has been widely spaced along this trend. For example, last year's HC04-1 and this year's HC05-1, both intersected strongly anomalous gold and associated pathfinder elements, and are 5,000 feet (1,500 metres) apart along strike.
BACKGROUND
J-Pacific's 2004 surface geochemical survey defined a strong gold-mercury geochemical anomaly associated with a northwesterly trending fault. Gold bearing breccias developed by this fault at the upthrown eastern contact of the Webb and Devil's Gate Formations is the primary target. A late 2004 reverse circulation hole (HC04-1) ended at 1,367 feet (417 metres) in the stratigraphically higher Woodruff Formation and intersected altered, locally calcareous siltstones and quartzites with silicification and occasional iron-rich dolomite veining. HC04-01, from 360 to 470 feet (110 to 142 metres), intersected encouraging anomalous gold values up to 234 ppb, and anomalous mercury, arsenic, molybdenum and zinc, which correlate well with the gold distribution, and are indicators of the targeted Rain Deposit (Newmont, Carlin Trend) style mineralization.
FUTURE PLANS
The October 2005 diamond drilling will deepen at least one of the holes to a depth of 2,000 feet (600 metres). The purpose of this deeper drilling is to test J-Pacific's belief that the holes stopped short of the target brecciated contact near the base of the Woodruff Formation. Reinterpretation of the stratigraphy, widespread dolomitization, and strong silicification with pyrite veinlets near the ends of the drill holes has led to the conclusion that, due to technical difficulties, all of the holes stopped short of this target. The holes to be deepened will depend on the complete analytical results and on-site accessibility for the larger truck-mounted core drilling.
QA/QC PROTOCOLS
Mr. Dana Durgin CPG, of Reno, Nevada, a qualified person as defined by National Instrument 43-101, has been retained to manage the exploration program.
BSi Inspectorate of Sparks, Nevada, carried out all the analytical work for the project. QA/QC protocols included secure sample storage, handling and shipping, and the use of sample standards and repeat analysis.
FINANCIAL SUPPORT OF JIPANGU INC.
Jipangu Inc. of Tokyo, Japan, is funding exploration at the HC Project in partial fulfillment of an option to a joint venture agreement dated April 1, 2004. Jipangu Inc. is the controlling shareholder of J-Pacific, and the companies have two directors in common.
On behalf of the Board of Directors,
N. Ferris, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
J-Pacific Gold Inc.
Investor Relations
Toll Free: 1-888-236-5200
ir@jpgold.com
www.jpgold.com
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
16:08 EDT Wednesday, October 12, 2005
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2005) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce the results from the four hole, 5,235 foot (1,596 metre) reverse circulation drill program that commenced in late July on the HC property in the Cortez District of Nevada's productive Battle Mountain - Eureka Trend.
2005 RESULTS - HC 05-01 to HC 05-04
The HC property is an early stage project, which covers a 10,000 foot (3,000 metre) gold and mercury surface geochemical anomaly, located approximately three miles (five kilometres) southeast of the Buckhorn Mine on the south side of the Cortez Mountains along the prolific Battle Mountain-Eureka Gold Trend of northeastern Nevada. HC is proximal to the successful Cortez Joint Venture (Placer Dome/Kennecott), which includes the recently discovered Cortez Hills, Pediment and ET Blue deposits, as well as the Pipeline, South Pipeline, Gold Acres and Cortez mines. The exploration target is conceptually analogous to Newmont's Rain (Carlin Trend) deposit, where deep-seated structures channel mineralizing fluids to buried gold-bearing veins and near-surface gold-rich stockworks.
This phase of the 2005 drilling program, which concluded on September 17, consisted of four reverse circulation holes to depths of 1,235, 1,350, 1,330 and 1,320 feet (376, 411, 405 and 402 metres), for a total of 5,235 feet (1,594 metres), along 7,500 feet (2,300 metres) of the northwesterly trending geochemical anomaly. The four holes penetrated lithologic sequences very similar to that of HC04-1; the fifth planned hole was not drilled because of time constraints. Importantly, all holes terminated in silicified quartzites containing pyrite as disseminations and in stockwork veinlets. The gold values are generally associated with elevated arsenic, mercury and barium values, dolomitization, silicification and quartz-pyrite veinlets.
The significant gold intersections from the program are listed below. (Multi-element pathfinder analysis was also completed.)
--------------------------------------------------------------------
Intersection
DDH From To Length Length Gold Gold Interval
No. (feet) (feet) (metres) (g Au/t) (oz Au/t) Description
--------------------------------------------------------------------
HC05-1 295 300 5 1.5 0.166 0.005 Bleached
hematitic
siltstone
-------------------------------------------------------
HC05-1 300 305 5 1.5 0.358 0.012
--------------------------------------------------------------------
HC05-1 320 325 5 1.5 0.264 0.008 Fault zone
in hematitic
siltstone
--------------------------------------------------------------------
HC05-1 955 960 5 1.5 0.420 0.014 955-1030'
is a zone of
silicification
with quartz-
pyrite
veinlets and
dolomitization.
Pyrite is
present in
hairline
veinlets and
disseminations
throughout
this interval.
-------------------------------------------------------
HC05-1 995 1,000 5 1.5 0.648 0.021
-------------------------------------------------------
HC05-1 1,000 1,005 5 1.5 0.664 0.021
-------------------------------------------------------
HC05-1 1,005 1,010 5 1.5 0.107 0.003
-------------------------------------------------------
HC05-1 1,010 1,015 5 1.5 0.100 0.003
-------------------------------------------------------
HC05-1 1,015 1,020 5 1.5 0.100 0.003
-------------------------------------------------------
HC05-1 1,020 1,025 5 1.5 0.155 0.005
-------------------------------------------------------
HC05-1 1,025 1,030 5 1.5 0.377 0.012
--------------------------------------------------------------------
In addition, all drill holes (HC05-1 to HC05-4) encountered anomalous gold values ranging from 20 to 88 ppb gold; and anomalous mercury, arsenic, barium, molybdenum and zinc values, associated with dolomitization, which is interpreted to indicate the presence of a Rain Deposit type hydrothermal system, and assists in substantiating our geologic model. Drill logs, histograms and a drill location map are available at the HC property page on the J-Pacific website.
A detailed review of the drill logs and cuttings by senior Nevada consultant David Mathewson, RPG, concluded that the silicified quartzites intersected at the ends of the drill holes were probably near the base of the Woodruff Formation. Strong silicification, pervasive dolomitization, and gold values up to 664 ppb, associated with highly elevated trace element geochemistry, are present at this stratigraphic level, potentially intersecting mineralization related to the contact between the Webb-Devil's Gate formations, which is projected to occur a few hundred feet deeper.
Initial drilling has been widely spaced along this trend. For example, last year's HC04-1 and this year's HC05-1, both intersected strongly anomalous gold and associated pathfinder elements, and are 5,000 feet (1,500 metres) apart along strike.
BACKGROUND
J-Pacific's 2004 surface geochemical survey defined a strong gold-mercury geochemical anomaly associated with a northwesterly trending fault. Gold bearing breccias developed by this fault at the upthrown eastern contact of the Webb and Devil's Gate Formations is the primary target. A late 2004 reverse circulation hole (HC04-1) ended at 1,367 feet (417 metres) in the stratigraphically higher Woodruff Formation and intersected altered, locally calcareous siltstones and quartzites with silicification and occasional iron-rich dolomite veining. HC04-01, from 360 to 470 feet (110 to 142 metres), intersected encouraging anomalous gold values up to 234 ppb, and anomalous mercury, arsenic, molybdenum and zinc, which correlate well with the gold distribution, and are indicators of the targeted Rain Deposit (Newmont, Carlin Trend) style mineralization.
FUTURE PLANS
The October 2005 diamond drilling will deepen at least one of the holes to a depth of 2,000 feet (600 metres). The purpose of this deeper drilling is to test J-Pacific's belief that the holes stopped short of the target brecciated contact near the base of the Woodruff Formation. Reinterpretation of the stratigraphy, widespread dolomitization, and strong silicification with pyrite veinlets near the ends of the drill holes has led to the conclusion that, due to technical difficulties, all of the holes stopped short of this target. The holes to be deepened will depend on the complete analytical results and on-site accessibility for the larger truck-mounted core drilling.
QA/QC PROTOCOLS
Mr. Dana Durgin CPG, of Reno, Nevada, a qualified person as defined by National Instrument 43-101, has been retained to manage the exploration program.
BSi Inspectorate of Sparks, Nevada, carried out all the analytical work for the project. QA/QC protocols included secure sample storage, handling and shipping, and the use of sample standards and repeat analysis.
FINANCIAL SUPPORT OF JIPANGU INC.
Jipangu Inc. of Tokyo, Japan, is funding exploration at the HC Project in partial fulfillment of an option to a joint venture agreement dated April 1, 2004. Jipangu Inc. is the controlling shareholder of J-Pacific, and the companies have two directors in common.
On behalf of the Board of Directors,
N. Ferris, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
J-Pacific Gold Inc.
Investor Relations
Toll Free: 1-888-236-5200
ir@jpgold.com
www.jpgold.com
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
