PRECIOUS METALS

Japan Gold's Barrick alliance exploration underway

Newmont-backed junior Japan Gold says sampling and regional-scale geophysical-gravity surveys have begun as part of its alliance with Barrick Gold in Japan.

Staff reporter
 Exploration has begun under the Barrick alliance at Japan Gold’s projects in Japan

Exploration has begun under the Barrick alliance at Japan Gold’s projects in Japan

The junior said the Barrick alliance had started the regional surveys in the Hokusatsu region in the southern Kyushu epithermal gold province.

It said the alliance had completed bulk leach extractable gold (BLEG) and rock chip sampling at 8 of the 14 southern Kyushu projects.

A regional BLEG and rock chip sampling programme would begin in Hokkaido in late July to capitalise on the summer field season, Japan Gold said, then would resume in southern Kyushu.

Barrick is funding an initial two-year evaluation of 28 of Japan Gold's 30 projects in the country, under an alliance struck in February.

It could potentially earn up to 75% of any of the projects by completing bankable feasibility studies.

Newmont holds 13% of Japan Gold, according to a presentation last month.

The junior closed a placement, priced at C25c per unit, in June which raised a total of about $7.6 million.

Its shares (TSXV: JG) have ranged from 19c-45c over the past year and closed up 7.9% yesterday to 34c, capitalising it at $59.3 million (US$44 million).

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.