CLINTON, British Columbia J-PACIFIC GOLD of Vancouver has bought out its joint venture partner, JIPANGU of Tokyo, and now owns 100% of the former Blackdome gold mine. The mine operated for five years, producing 225,000 oz of gold and 547,000 oz of silver until it was shut down in 1991. J-Pacific (then Claimstaker Resources) recovered an additional 6,547 oz of gold and 203,631 oz of silver between November 1998 and May 1999.
J-Pacific paid $600,000 and will issue 1.5 million common shares to Jipangu.
J-Pacific states that the Blackdome property is a "long-term asset" with exploration potential. An inferred resource estimate made in 2001 suggested the deposit hosts 124,120 tonnes grading 12.8 g/t Au and 33.7 g/t Ag.
Learn more at www.jpgold.com or contact president Nick Ferris at 604-684-6677 or 888-236-5200.