Project Name: KUTCHAN(the southeastern part of Hokkaido) 10 Mining concessions: 31km2, 100% share Target minerals: gold, silver Geology and Ore Deposit: This area belongs to one of the prominent volcanic belt in japan. The ages of volcanic rocks are Paleogene, Miocene and Pliocene and they are widely distributed and Cretaceous granites are partly exposed in the area from the Shakotan Peninsula to Shikotsu Lake. Active to paleo-geothermal systems were necessary for the formation of the ore deposits to have developed well in the area. The gold bearing silicified rocks which seem to be formed under the condition of a high sulfidation system are distributed in our concession. Exploration activities: [1997] Nittetsu conducted geology and geochemical surveys within the area of 100km2, and a high sulfidation type gold deposit was confirmed. [1998] CSAMT geophysical survey was conducted in the area of 4km2 by MMAJ. A high resistivity anomaly which seems to originate in gold bearing silicified rock was confirmed. High grade gold mineralization was not detected, though the drilling survey (1 hole: 501m) confirmed the silicified zone of more than 50m in width. [1999] Strong silicified rocks were confirmed from the surface to the depth of 124m by drilling survey (1 hole: 300m). The average gold grade between 80m and 119m was 0.48g/t Au (including 114-118m: 1.13g/t Au). Future plan: If we discover the center of gold mineralization, we can carry out F/S survey in the area.
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