Owner
Post by Franko10 ™ on Mar 2, 2005 9:27:48 GMT -5
SEPTEMBER 24, 2003
J-PACIFIC TO PURCHASE INTEREST IN BLACKDOME GOLD MINE
J-Pacific Gold Inc. is pleased to announce that it has entered into an agreement in principle with Jipangu Inc. of Tokyo, Japan to acquire its 50% interest in the Blackdome Gold Mine project. To complete the acquisition, the J-Pacific will pay Jipangu C$600,000 and issue 1,500,000 common shares. Upon completion of the transaction, J-Pacific will own 100% of the Blackdome Gold Mine. Jipangu is the controlling shareholder of J-Pacific.
The Blackdome Gold Mine is located in the Clinton Mining District of British Columbia approximately 250 kilometers (155 miles) north of Vancouver and 70 kilometers (45 miles) west northwest of the town of Clinton. The property consists of 27 mineral claims totaling 258 units, 10 crown granted mineral claims totaling 169 hectares (417 acres), and two mining leases totaling 978 hectares (2,417 acres). The property has a modern, well-maintained flotation and gravity mill with a current capacity of 200 tons per day. All of the project’s mining permits are in good standing.
The Blackdome property has an "Inferred Mineral Resource" (CIMM 2000 definitions) of 124,120 tonnes averaging 12.8 grams of gold per tonne (0.37 oz Au/ton) and 33.7 grams of silver per tonne (0.98 oz Ag/ton) for an in situ total of 50,834 ounces of gold and 134,386 ounces of silver.
Blackdome has a number of exploration targets that have been well documented within the areas of underground development, as well as farther from these areas. In 2001, J-Pacific commissioned SRK Consulting to complete a geological model, resource estimate and preliminary exploration-risk assessment of the Blackdome project. SRK concluded that Blackdome has significant potential of hosting entirely new economic ore bodies.
J-Pacific views the property as a long-term asset, with significant exploration potential to provide the additional gold resources needed to proceed to an independent feasibility study, as a precursor to any future production.
The transaction is subject to regulatory approval.
On behalf of the Board of Directors,
“N. Ferris”<br>President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Nick Ferris -Telephone 1-888-236-5200.
J-PACIFIC TO PURCHASE INTEREST IN BLACKDOME GOLD MINE
J-Pacific Gold Inc. is pleased to announce that it has entered into an agreement in principle with Jipangu Inc. of Tokyo, Japan to acquire its 50% interest in the Blackdome Gold Mine project. To complete the acquisition, the J-Pacific will pay Jipangu C$600,000 and issue 1,500,000 common shares. Upon completion of the transaction, J-Pacific will own 100% of the Blackdome Gold Mine. Jipangu is the controlling shareholder of J-Pacific.
The Blackdome Gold Mine is located in the Clinton Mining District of British Columbia approximately 250 kilometers (155 miles) north of Vancouver and 70 kilometers (45 miles) west northwest of the town of Clinton. The property consists of 27 mineral claims totaling 258 units, 10 crown granted mineral claims totaling 169 hectares (417 acres), and two mining leases totaling 978 hectares (2,417 acres). The property has a modern, well-maintained flotation and gravity mill with a current capacity of 200 tons per day. All of the project’s mining permits are in good standing.
The Blackdome property has an "Inferred Mineral Resource" (CIMM 2000 definitions) of 124,120 tonnes averaging 12.8 grams of gold per tonne (0.37 oz Au/ton) and 33.7 grams of silver per tonne (0.98 oz Ag/ton) for an in situ total of 50,834 ounces of gold and 134,386 ounces of silver.
Blackdome has a number of exploration targets that have been well documented within the areas of underground development, as well as farther from these areas. In 2001, J-Pacific commissioned SRK Consulting to complete a geological model, resource estimate and preliminary exploration-risk assessment of the Blackdome project. SRK concluded that Blackdome has significant potential of hosting entirely new economic ore bodies.
J-Pacific views the property as a long-term asset, with significant exploration potential to provide the additional gold resources needed to proceed to an independent feasibility study, as a precursor to any future production.
The transaction is subject to regulatory approval.
On behalf of the Board of Directors,
“N. Ferris”<br>President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Nick Ferris -Telephone 1-888-236-5200.
