Japan Gold (TSX-V:JG) told investors it has acquired a new project, picking up 22 new prospecting areas that comprise the North Taio project.
The acreage acquired in a process via by the Japanese Ministry of Economy, Trade and Industry spans some 7,009 hectares of prospective ground immediately along strike of the Taio mine which is described as the Middle Kyushu region's largest gold deposit.
The North Taio Project area covers a group of historical workings including Umeno, Tono-o, and Mikura as well as a large 4-kilometre by 3-kilometre area of gold and pathfinder element anomalous clay alteration, the company highlighted in a statement.
Some reconnaissance exploration previously took place in the area during the early 1990’s, by the Metal Mining Agency of Japan, as part of an assessment of the country’s major epithermal gold provinces.
The prior work comprised reconnaissance mapping, soil geochemical sampling and geophysical surveying, Japan Gold (TSX-V:JG) noted, though it added that no subsequent exploration work has been reported in the North Taio zone.
“The company believes the area presents a highly prospective and underexplored opportunity within the high-grade epithermal districts of Kyushu,” it said in a statement.
Japan Gold (TSX-V:JG) meanwhile noted that its partner Barrick Gold would have a first refusal to combine this project into the ‘alliance’ portfolio of projects that they jointly work on.