{"id":1202167,"date":"2020-08-18T09:00:00","date_gmt":"2020-08-18T14:00:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1032950"},"modified":"2020-08-18T09:00:00","modified_gmt":"2020-08-18T14:00:00","slug":"barrick-japan-gold-expand-exploration-work","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1202167","title":{"rendered":"Barrick, Japan Gold expand exploration work"},"content":{"rendered":"

Barrick (TSX: ABX) (NYSE: GOLD) and Japan Gold (TSX-V: JG) are moving forward with exploration activities<\/a> in the Asian country\u2019s Kitami Region, as part of the joint venture partners efforts to uncover the nation\u2019s gold mining potential.<\/p>\n

Under a venture\u00a0formed 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

Barrick Alliance field teams relocated from southern Kyushu to northeast Hokkaido, Japan’s second largest island, in late July. They are currently undertaking regional sampling on Sanru, Japan Gold\u2019s largest project.<\/p>\n

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Sanru is Japan Gold\u2019s largest project and covers a 25-km-long strike length on the Omu-Kamikawa trend in Hokkaido, one of Japan\u2019s major epithermal gold provinces.<\/p>\n<\/blockquote>\n<\/figure>\n

The Sanru area covers a 25-km strike length from the Sanru mine in the southwest to the boundary of Irving Resources\u2019 Omu project.<\/p>\n

The Kitami Region is one of Japan’s major epithermal gold provinces with more than 40 historic mines and prospects. The area is home to the Konomai mine, the country’s third largest gold operation, with historic production of 2.35Moz at an average grade of 6.4g\/t Au. It also holds the<\/p>\n

Sanru mine, with has a historic production of 225,000oz at an average grade of 7.4g\/t Au.<\/p>\n

Japan Gold has nine projects with applications and prospecting rights covering 737 km2 of prospective ground within the region, eight of which are included in the Barrick Alliance.<\/p>\n

The regional exploration program, initiated in May<\/a>, will help the alliance evaluate the joint venture\u2019s overall 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 exploration 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% 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

he 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 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>\n","protected":false},"excerpt":{"rendered":"

The alliance has begun sampling around Sanru, Japan Gold’s largest project, located on the Hokkaido island.<\/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\/1202167"}],"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=1202167"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1202167\/revisions"}],"predecessor-version":[{"id":1202212,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1202167\/revisions\/1202212"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1202167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1202167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1202167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}