Japan Gold (TSX-V:JG) Corp has called 2021 its “most productive year” in a corporate update reviewing the gold company’s accomplishments.
“The dedicated Japan Gold (TSX-V:JG) team has been committed to excellence and has surpassed company expectations with the volume and quality of work completed across all elements of the business, and this is a credit to all involved,” the company said in the update.
The Vancouver-based, Japan-focused exploration firm is making good progress in its alliance with mega miner Barrick Gold Corporation, which sees Barrick funding an initial evaluation of 29 projects.
READ: Japan Gold strengthens leadership team with Toru Tokuhisa and Yoshio Nojima
The two companies have identified “numerous areas of interest” with coincident anomalous geochemistry and alteration, and supporting gravity defined structure, according to Japan Gold.
The footprints of well-preserved hydrothermal alteration systems, which potentially host large epithermal vein deposits, are being delineated, the company added.
Both Barrick and Japan Gold are narrowing down the focus of ongoing exploration programs with the goal of defining priority areas for follow-up and Barrick Alliance advancement.
“The hydrothermal provinces of Japan have the potential to host world-class deposits and have received limited exploration focus in recent times,” Barrick’s executive vice president, exploration Joel Holliday said in the statement.
“The Barrick and Japan Gold teams are excited to see the results from the initial screening programmes begin to highlight the areas for more focussed follow up work which will begin in 2022," he added.
Since the formation of the Barrick Alliance in February 2020, the portfolio has increased by 42% as part of a strategy to expand coverage based on the identification of key prospectivity indicators, throughout the gold provinces of Japan.
Japan Gold recently expanded the Kanehana and Buho projects on the island of Hokkaido with 26 new prospecting rights applications covering 83 square kilometres, which are included in the Barrick Alliance.
Separately, Japan Gold said it has granted 6.09 million stock options exercisable at $0.35 for a five-year period.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas