Japan Gold (TSX-V:JG) has released an update detailing its 2023 work programs and outlining plans for 2024 across its portfolio of projects under an alliance with gold major Barrick Gold Corp. (TSX:ABX, NYSE:GOLD).
The Barrick Alliance projects, particularly the Mizobe project in Southern Kyushu, saw substantial activity in 2023, including the completion of seven drill holes totaling 2,416.2 meters of drill core.
Encountering significant mineralization, these efforts have advanced the understanding of the area's geological features.
An upcoming work program on the project will focus on a ground magnetic survey, detailed structural interpretation, and refining the geological model to target high-grade mineralization, according to a statement from Japan Gold (TSX-V:JG).
The firm noted that challenges arose in the Honshu region following a 7.6 magnitude earthquake on January 1, 2024, which affected the Togi project located in the Ishikawa Prefecture. While mapping completed last year revealed concealed targets along a four-kilometer fault zone, the seismic event prompted concerns for the safety of local communities.
Looking ahead, the company plans to continue its exploration efforts, with the 2024 work program including ground magnetics to further identify drill-ready targets at Togi, contingent upon results and permitting.
Despite challenges, Japan Gold (TSX-V:JG) remains optimistic about the prospects of its projects and aims to accelerate activities, particularly drilling, in the coming year.
The company's CEO, John Proust, noted the firm’s progress in a statement.
"Our 2023 exploration programs have yielded strong results and provided important insights and direction for our 2024 work programs,” Proust told shareholders.
“We are delighted that projects held within the Barrick Alliance and independently by Japan Gold are progressing well and demonstrate a high degree of prospectivity. We expect to accelerate activities by drilling the highest-ranked targets in 2024."