J-Pacific Gold Inc.

J-Pacific Gold Inc.

October 21, 2009 13:00 ET

J-Pacific Commissions Micon International for Scoping Study of Blackdome and Elizabeth Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2009) - J-Pacific Gold Inc. (TSX VENTURE:JPN) ("J-Pacific" or the "Company") has retained Micon International Limited to complete a preliminary assessment ("PA" or "scoping study") of the Blackdome Gold Mine ("Blackdome") and Elizabeth Gold ("Elizabeth") Properties in British Columbia. The Blackdome and Elizabeth Properties are respectively located approximately 250 and 220 kilometres north of Vancouver, in the Clinton and Lillooet Mining Divisions.

The PA, to be completed by Micon's "independent qualified persons", will evaluate potential underground mining operations at both sites. Any eventual production from the Elizabeth Property will be transported by road for processing at the Blackdome gravity and flotation mill. There is no certainty the PA will indicate that commercial production is viable. The PA will be based on inferred resources, which by definition are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. As a result, there is no certainty that the preliminary assessment's findings will be realized.

SRK Consulting (Canada) Inc. has been commissioned to review and update the Blackdome resource estimate to achieve conformity with generally accepted CIM Estimation of Mineral Resources and Mineral Reserves Best Practices, and to follow the guidelines of Canadian Securities Administrators National Instrument 43-101. Having incorporated this new information, the scoping study will assess a suitable mining tonnage rate and grade, and will determine capital and operating costs for mining, ore transportation, milling, smelting, refining, and site infrastructure to a level of accuracy appropriate for a PA.

The June 2009 Mineral Resource Statement for the Elizabeth Gold Property, prepared by SRK, estimated a total inferred resource of 522,900 tonnes grading 12.26g Au/t and containing 206,130 ounces of gold in two veins. The historical, non–CIM compliant resource on the Blackdome Property is estimated at 124,120 tonnes grading 12.8g Au/t and containing 50,834 ounces of gold. As no qualified person has done sufficient work to classify the historical Blackdome estimate as a current mineral resource, J-Pacific is not treating the estimate as such and it should not be relied upon.

The resource estimate for Elizabeth was completed by Dorota El-Rassi, P.Geo., and Dr. Jean-Francois Couture, P.Geo., both employees of SRK. Ms. El-Rassi and Dr. Couture are "independent qualified persons", as defined in NI 43-101, and have reviewed the technical information presented herein.

Micon International has reviewed and approved this news release, as has John Harrop, P.Geo., J-Pacific's senior geologist and a qualified person as defined by NI 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • J-Pacific Gold Inc.
    Nicholas Ferris
    President and CEO
    +1 (888) 236-5200
    +1 (604) 684-6678 (FAX)
    Media Inquiries
    Victor Webb or Madlene Olson
    Marston Webb International
    +1 (212) 684-6601
    +1 (212) 725-4709 (FAX)