leadf
logo-loader
viewJapan Gold

Japan Gold signs JV agreement with Koatsu Kogyo for three mining rights licenses in Southern Kyushu

The three mining rights, collectively called the Kowa Project, comprises 389 hectares and will be included in the Barrick Alliance

Japan Gold - Japan Gold Corp signs joint venture agreement with Koatsu Kogyo Corporation for three mining rights licenses
With the signing of the JV agreement, Japan Gold has complete coverage over strike extensions to the Ohra-Takamine mineralization corridor

Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) (FRA:2LD) announced Thursday it has signed a joint venture agreement with Koatsu Kogyo Corporation for three mining rights licenses. 

The three mining rights, collectively called the Kowa Project, comprises 389 hectares and will be included in the Barrick Alliance. The project adjoins the Japan Gold’s Ohra-Takamine Project, and the Barrick Alliance Mizobe-Onoyama Project in Southern Kyushu.

In a statement. Japan Gold said the mining rights host numerous gold-bearing epithermal quartz veins with shallow historic underground mine workings developed on them. 

READ: Japan Gold awaiting lab results after first hole completed at Ohra-Takamine project

With the signing of the joint venture, Japan Gold said it has complete coverage over strike extensions to the Ohra-Takamine mineralization corridor, along with the numerous under-explored veins contained within the properties.

Highlights of the joint venture include:

  • Japan Gold has an exclusive right to explore the properties in return for the company's commitment to fund the exploration and development and pay mining right taxes.
  • The company has the right to acquire 100% equity in the mining rights in return for funding through to pre-feasibility.
  • Consideration for the transfer of the mining rights to the company will be a 10% net profits interest. 
  • A joint technical committee will oversee exploration and development activities within the properties and the company will act as manager.

"We're very pleased to sign this joint venture agreement with the Koatsu Kogyo Corporation,” said Japan Gold CEO John Proust. “The joint venture covers a strategic and under-explored gap in the company's extensive portfolio in the very prospective Southern Kyushu Epithermal Gold Province."

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Japan Gold

Price: 0.37 CAD

TSX-V:JG
Market: TSX-V
Market Cap: $65.07 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Japan Gold named herein, including the promotion by the Company of Japan Gold in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Japan Gold along with partner Barrick approve a 4-million-dollar budget to...

Japan Gold (CVE: JG- OTCQB: JGLDF) CEO John Proust joined Steve Darling from Proactive with news Japan Gold has received approval from the Barrick Alliance to spend 4 million U.S. to complete regional exploration work. Proust telling Proactive this work will complete the 2-year evaluation...

1 week, 2 days ago

2 min read