{"id":1194522,"date":"2020-07-08T05:54:00","date_gmt":"2020-07-08T10:54:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1029079"},"modified":"2020-07-08T05:54:00","modified_gmt":"2020-07-08T10:54:00","slug":"barrick-japan-gold-push-ahead-with-exploration-program","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1194522","title":{"rendered":"Barrick, Japan Gold push ahead with exploration program"},"content":{"rendered":"

Barrick (TSX: ABX) (NYSE: GOLD) and Japan Gold (TSX-V: JG) have kicked off geophysical-gravity surveys<\/a> in the Asian country\u2019s Hokusatsu Region, as part of joint efforts to uncover the nation\u2019s gold mining potential.<\/p>\n

Under an venture formed in February<\/a>, known as Barrick Alliance, the companies have completed bulk leach extractable gold (BLEG) and rock chip sampling over eight of the 14 targets located in Southern Kyushu Epithermal Gold Province.<\/p>\n

The projects, covering a 32,768-hectare area (328 square km), is Japans’ largest gold producing region with recorded output of over 11 million ounces.<\/p>\n

The regional exploration program, initiated in May<\/a>, will help the alliance evaluate the overall project portfolio. From there, both companies will determine which areas have anomalous gold showings and potentially fertile large structures.<\/p>\n

Barrick has committed to solely fund a two-year initial evaluation phase of 28 out of 30 projects Japan Gold already has in the country.<\/p>\n

The Canadian gold giant will also finance a third year of explorations on assets that meet its criteria.<\/p>\n

Once the Toronto-based miner completes a pre-feasibility study (PFS) it will earn a 51% interest and may choose to fund a designated project to a bankable feasibility study (BFS). The completion of a BFS will fully carry Japan Gold and earn Barrick a 75% per cent interest in the project after which Japan Gold will retain a 25% interest.<\/p>\n

Gold-rich area<\/strong><\/h2>\n

Japan Gold has recently expanded its portfolio to reach a total of 30 projects. These cover more than 40 historic gold mines over an area of approximately 1,900 square km, spread across the country\u2019s three largest islands: Hokkaido, Honshu and Kyushu.<\/p>\n

\n
\"Barrick,<\/figure>\n<\/div>\n

The company\u2019s southernmost projects are found on Kyushu Island, where it has 16 gold projects in the area of the Hishikari mine. Significantly, Hishikari has been producing since 1985, generating a spectacular 7.9 million oz so far at average grades of 30-40 g\/t making it one of the highest-grade deposits under active mining globally.<\/p>\n

Japan Gold has attracted interest from other majors, including Newmont (NYSE: NEM) (TSX: NGT), which has a 13% stake in the Vancouver-based junior.<\/p>\n

The world\u2019s No. 1 gold producer became involved with Japan Gold in 2018, when Goldcorp (now part of Newmont) provided financing. As part of the deal, Goldcorp was granted a joint venture right of first refusal on two projects, the Ohra-Takamine and the Ikutahara project.<\/p>\n

Those assets are excluded from the Barrick Gold strategic alliance.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

The companies, through a venture known as Barrick Alliance, have completed a first phase of exploration in Hokusatsu, Japans’ largest gold producing region.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,2640],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1194522"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1194522"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1194522\/revisions"}],"predecessor-version":[{"id":1194571,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1194522\/revisions\/1194571"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1194522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1194522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1194522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}