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TSXV:SYS Last: 0.51 High: 0.51 Low: 0.51 Frankfurt:QS7.F Last: 0.37 High: 0.38 Low: 0.38 Date: 9/7/2010 |  |
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J-Pacific Gold Inc. NEWS RELEASE No. 17, 2004 FOR IMMEDIATE RELEASE J-PACIFIC’S GOLDEN TREND DRILLING TO START J-Pacific Gold Inc. (“J-Pacific”) is pleased to report that it has commenced a drilling program on its Golden Trend Project in the Pipeline-Cortez area of the Battle Mountain-Eureka Gold Trend in northeastern Nevada. Golden Trend is contiguous with the large Cortez Joint Venture (Placer Dome/Kennecott) area that contains the recently discovered Cortez Hills, Pediment and ET Blue deposits, and which also contains the Pipeline, South Pipeline, Gold Acres and Cortez Mines. The Battle Mountain-Eureka Gold Trend has published reserves and past production of over 20,000,000 ounces of gold, and is one of the major loci of gold exploration in the State of Nevada. The initial drilling program will consist of a 2,000 foot (600 metre) core hole to document stratigraphy and geochemistry as well as test a geological target in an area where the depth to the Roberts Mountain Thrust and the permissive Lower Plate carbonate-rich rocks is interpreted to be relatively shallow. Both cross faulting, an important structural control, and oxidized former sulfide-bearing, geochemically anomalous, silicified breccia outcrops have been mapped adjacent to the drill hole location. Two reverse circulation holes to the same depth are planned as a part of Phase I to follow-up on the core hole results, and to be completed by late November 2004. J-Pacific has completed a soil sampling program at its second Battle Mountain-Eureka Gold Trend property – the HC Project – and has recently applied to the U.S. Bureau of Land Management for a permit to drill three reverse circulation drill holes to depths of approximately 2,000 feet (600 metres) in early November 2004. The HC target is a gold-bearing breccia, which would develop at and near a buried formation contact (Webb-Devil’s Gate) along the upthrown (eastern) side of a northwest trending (“feeder”) structure on the property. Geologically anomalous arsenic is widely distributed, and locally elevated amounts of antimony, mercury, zinc, silver, chromium, nickel and molybdenum are present. Surface alteration in the form of oxidized hydrothermal sulfides, silicification (locally as jasperoid), and fracture controlled barite is present. Exploration at the Golden Trend and HC Projects is being funded by Jipangu Inc. of Tokyo Japan as a part of an option and joint venture agreement dated April 1, 2004. Jipangu Inc. is the controlling shareholder of J-Pacific, and the companies have two directors in common. Shaddrick and Associates of Reno, Nevada has been retained to manage the exploration program and Mr. David R. Shaddrick, C.P.G., P. Geo., a qualified person as defined by NI 43-101, will directly supervise the work. On behalf of the Board of Directors, “N. Ferris” The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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