Barrick, Japan Gold to expand Mizobe-Onoyama project

Kyushu, Japan. (Reference image by RealSprout, Pixabay).

Japan Gold (TSXV: JG) announced that it has signed a joint venture agreement with Koatsu Kogyo Corporation for three mining rights licenses that adjoin the company’s Ohra-Takamine project and the Barrick Alliance Mizobe-Onoyama project in Southern Kyushu, Japan. 

In a press release, Japan Gold said that the three mining rights are collectively called the Kowa project, they comprise 389 hectares and will be included in the Barrick Alliance.

“The mining rights host numerous gold-bearing epithermal quartz veins with shallow historic underground mine workings developed on them,” the media brief states. “With the signing of this agreement, the company has complete coverage over strike extensions to the Ohra-Takamine mineralization corridor, along with the numerous under-explored veins contained within the properties.” 

Japan Gold has an exclusive right to explore the properties in return for its commitment to fund their exploration and development and pay mining right taxes. In order to move forward and acquire a 100% equity in the mining rights, the miner would have to continue funding through pre-feasibility.

“A joint technical committee will oversee exploration and development activities within the properties and the company will act as manager,” the press brief reads. 

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