J-Pacific Gold Inc.
TSX VENTURE : JPN

J-Pacific Gold Inc.

September 10, 2009 09:30 ET

J-Pacific Releases Technical Report for the Elizabeth Gold Property

Permitting in place for comprehensive surface and underground exploration program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE:JPN) announces that it has released a technical report for its Elizabeth Gold Property. The report is available for download at SEDAR and on the J-Pacific website.

On June 8, 2009, J-Pacific announced that it had received an initial inferred gold mineral resource estimate for the Elizabeth Gold Property of 522,900 tonnes, grading an average of 12.3g Au/t using a cut-off grade of 5.0g Au/t, for a total of 206,100 oz Au. The resource estimate was prepared by SRK Consulting (Canada) Inc. ("SRK").

The Elizabeth Gold Property is located in the Lillooet Mining District of British Columbia, approximately 220 kilometres north of Vancouver and 30 kilometres southwest of the Blackdome Gold Mine and mill.

Mineral Resource Statement
Elizabeth Gold Property, British Columbia
Prepared by SRK Consulting, June 4, 2009

  Domain   Grade  Metal
   Quantity  Gold  Gold
   (tonnes)  (g Au/t)  (ounces)
  Inferred mineral resources   
  Southwest Vein  328,300  13.63  143,900
  West Vein  194,600  9.95  62,200
  Main Vein**  –  –  –
  Northwest Vein**  –  –  –
  Total inferred  522,900  12.26  206,100
*   Mineral resources are not mineral reserves and have demonstrated no economic viability. All figures are rounded to reflect the relative accuracy of the estimate. Reported at a cut-off grade of 5.0g Au/t, assuming an underground mining scenario, a gold price of US$1,000 per ounce, and 100 percent metallurgical recovery.
**  At the cut-off grade of 5.0g Au/t, the Main and Northwest veins currently host no significant mineral resources.
 
    

FUTURE PLANS

J-Pacific has initiated plans for extensive surface and underground exploration programs, along with infrastructure upgrades, in an effort to further expand the resource. Permitting for this phase of work is in place, and proposals for an independent scoping study are currently being reviewed.

BACKGROUND

Since acquiring the Elizabeth Gold Property in 2002, J-Pacific has drilled 67 diamond drill holes totalling 9,053 metres, of which 38 holes totalling 5,664.2 metres have targeted the Southwest Vein system. Drilling has also targeted the West and No. 7 veins. Structural interpretation of the Elizabeth vein system by SRK in 2005 was instrumental in the design of J-Pacific's 2007 drilling program on the Southwest Vein.

The Elizabeth Gold Property, 9,811 hectares of owned and optioned Crown grants and mineral claims, is centrally located in prospective terrain 30 kilometres south-southwest of the permitted mill at the J-Pacific-owned Blackdome Gold Mine, and 30 kilometres north-northeast of the historical gold mining town of Bralorne, where over four million ounces of gold have been produced. The Elizabeth Gold Property's proximity to J-Pacific's permitted gold mill at the Blackdome Gold Mine means any eventual production from Elizabeth could be accommodated at the Blackdome facility, complementary to any future production at Blackdome. The high grades identified in several veins at the Elizabeth Gold Property and its location make it an attractive exploration target that can be rapidly advanced.

The technical content of this news release has been reviewed and approved by Dr. Jean-François Couture, P.Geo., and Dorota El-Rassi, P.Eng., of SRK, and J-Pacific's independent qualified persons for this project for the purpose of NI 43-101 regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is 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.
    Nick Ferris
    President & CEO
    +1 (888) 236-5200
    Fax: +1 (604) 684-6678
    info@jpgold.com
    www.jpgold.com

    or

    Marston Webb International
    Victor Webb/Madlene Olson
    Media Inquiries
    +1 (212) 684-6601
    Fax: +1 (212) 725-4709
    marwebint@cs.com