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Be the first with the news that moves the market- Japan Gold Corp (TSXV:JG) is kicking off exploration in Japan with its new partner, mining behemoth Barrick Gold (TSX:ABX).
- The alliance between the companies will fast-track gold exploration at 28 properties in Japan Gold’s portfolio
- The exploration program will cover over 1500 square kilometres
- The program will begin with geologists examining stream soil sediments for bulk leach-extractable gold, along with multi-element pathfinder analysis
- Japan Gold Corp (JG) is up 3.45 per cent, with shares trading at C$0.30 and a market cap of $42 million
Japan Gold Corp (TSXV:JG) is kicking off exploration in Japan with its new partner, mining behemoth Barrick Gold (TSX:ABX).
In February, Japan Gold and Barrick Gold announced they were forming an exploration partnership, named the Country-Wide Gold Alliance.
The alliance was formed to fast-track exploration at 28 of Japan Gold’s properties, covering around 1500 square kilometres.
The exploration program will begin with geologists examining stream soil sediments for bulk leach-extractable gold, along with multi-element pathfinder analysis.
The stream sediment program is an old geological technique used to derive the location of gold structures.
Once gold is located in a stream, the geologists move further up until gold is no longer detected. Exploration then begins in the surrounding area to determine the exact location of gold structures.
Pathfinder analysis at the sites will be completed by Australian Geologists and will commence once international restrictions on travel between Australia and Japan are lifted.
The analysis will build on the resource mapping Japan Gold has already conducted on the Japanese islands of Honshu, Kyushu and Hokkaido.
CEO of Japan Gold, John Proust said the program will help the company determine areas with the greatest potential for large gold structures.
“This will enable focused exploration on highest priority areas to generate drilling targets. We are very pleased to be able to commence this important initiative with Barrick during the evolving COVID-19 pandemic,” he said.
Japan Gold Corp (JG) is up 3.45 per cent, with shares trading at C$0.30 at 9:31am EDT.
