Owner
Post by Franko10 ™ on Mar 16, 2006 11:33:29 GMT -5
J-Pacific Plans Future Nevada Exploration; Reports 2005 Final Results
11:31 EST Thursday, March 16, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2006) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE:JPN)(OTCBB:JPNJF) has received the final results from its 2005 exploration drilling programs at the Golden Trend and HC properties in the prolific Battle Mountain-Eureka Gold Trend, and plans additional work at the Golden Trend and Callaghan properties (see February 28, 2006 news release) in Nevada.
From the unreported 1,530 feet (464 metres) of the 2,000 foot (600 metre) hole GT05-01 drilled at Golden Trend, no significant values were obtained, and the prospective lower plate carbonates were not reached. However, attractive targets remain at Golden Trend and will be prioritized for further exploration, in light of the company's new understanding of the property. On December 15, 2005, J-Pacific announced that a 15 foot (4.5 metre) section of GT05-01 intersected gold values up to 1.334 g Au/ton in upper plate rocks.
On the HC Property in 2005, J-Pacific completed four reverse circulation drill holes consisting of 5,235 feet (1,596 metres). Because of the intersection of interesting gold mineralization in the upper plate rocks of hole HC05-01, it was deepened to 2,500 feet (758 metres) to determine if these values could be representative of leakage from the more promising lower plate rocks. When the lower plate rocks were not intersected by 2,500 feet (758 metres), and no significant mineralization was encountered, the hole was stopped.
On February 20, 2006, J-Pacific terminated its lease with an option to purchase agreement with KM Exploration Ltd. on the HC and RC properties. In addition to the lack of significant positive results at HC, J-Pacific's preliminary exploration on the RC Property in the southern portion of the Carlin Trend had not produced encouraging targets. After closely reviewing the results of the 2005 drilling programs, the option to a joint venture agreement at HC and Golden Trend with Jipangu Inc. was also dissolved on February 20, 2006.
A full set of drill logs, analyses and technical maps from the 2005 drill program are available on the J-Pacific website.
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.
11:31 EST Thursday, March 16, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2006) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE:JPN)(OTCBB:JPNJF) has received the final results from its 2005 exploration drilling programs at the Golden Trend and HC properties in the prolific Battle Mountain-Eureka Gold Trend, and plans additional work at the Golden Trend and Callaghan properties (see February 28, 2006 news release) in Nevada.
From the unreported 1,530 feet (464 metres) of the 2,000 foot (600 metre) hole GT05-01 drilled at Golden Trend, no significant values were obtained, and the prospective lower plate carbonates were not reached. However, attractive targets remain at Golden Trend and will be prioritized for further exploration, in light of the company's new understanding of the property. On December 15, 2005, J-Pacific announced that a 15 foot (4.5 metre) section of GT05-01 intersected gold values up to 1.334 g Au/ton in upper plate rocks.
On the HC Property in 2005, J-Pacific completed four reverse circulation drill holes consisting of 5,235 feet (1,596 metres). Because of the intersection of interesting gold mineralization in the upper plate rocks of hole HC05-01, it was deepened to 2,500 feet (758 metres) to determine if these values could be representative of leakage from the more promising lower plate rocks. When the lower plate rocks were not intersected by 2,500 feet (758 metres), and no significant mineralization was encountered, the hole was stopped.
On February 20, 2006, J-Pacific terminated its lease with an option to purchase agreement with KM Exploration Ltd. on the HC and RC properties. In addition to the lack of significant positive results at HC, J-Pacific's preliminary exploration on the RC Property in the southern portion of the Carlin Trend had not produced encouraging targets. After closely reviewing the results of the 2005 drilling programs, the option to a joint venture agreement at HC and Golden Trend with Jipangu Inc. was also dissolved on February 20, 2006.
A full set of drill logs, analyses and technical maps from the 2005 drill program are available on the J-Pacific website.
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.
