Japan Gold (TSX-V:JG) Corp has announced a new project under its alliance with Barrick Gold Corp on the island of Hokkaido in Japan.
In a statement, Japan Gold (TSX-V:JG) told investors that the Japanese Ministry of Economy, Trade and Industry had accepted 146 new prospecting rights applications that comprise the Kamimuri project that spans 47,984 hectares of the prospective ground by the west side of the Barrick Alliance Hakuryu project and Japan Gold (TSX-V:JG)'s Ikutahara and Kanehana projects.
The project covers a series of conceptual regional-scale structural exploration targets that was first proposed by the Barrick technical group and further advanced by the Alliance team, according to Japan Gold (TSX-V:JG).
READ: Japan Gold updates investors on its Barrick Gold alliance projects in Kyushu and Hokkaido
The area hosts five known historical gold-silver mine workings including Kamimuri, Muri, and Taisei. Gold mineralization at Kamimuri was initially recognised in the late 1930s.
Geological features are indicative of significant hydrothermal alteration systems and include those at the Kamimuri, Muri and Taisei workings, the company said.
A district-scale aero-electromagnetic survey flown by the Metal Mining Agency of Japan (MMAJ) in 1989 defined anomalies and their proximity to major structural intersections that the Alliance believes merits further investigation “based on the known gold-endowment and the under-explored nature of the province,” according to the statement.
Initial visits by the Barrick Alliance team in 2022 confirmed alteration associated with the AEM derived anomalies at the Kamimuri, Muri and Taisei workings.
The team is planning a BLEG sampling program followed by reconnaissance mapping for the second quarter of 2023 to further evaluate the scale of the alteration system and potential for mineralization in the Kamimuri area initially.
Vancouver-based junior Japan Gold has a country-wide alliance with Barrick Gold to jointly explore, develop and mine certain gold mineral properties and mining projects.
The company holds a portfolio of 32 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization on the islands of Hokkaido, Honshu and Kyushu.
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