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Japan Gold expects to start drilling promising exploration targets very soon

Four drill rigs are in place and ready to mobilize near the company’s project exploration bases in Hokkaido and Kyushu, where Japan Gold is planning a cumulative 5,100 metre program on two prospective targets

gold in rock
Japan Gold is preparing to explore two highly prospective targets on Hokkaido and Kyushu islands

Japan Gold Corp (CVE:JG) (OTCMKTS:JGLDF) updated shareholders on Friday about progress at its precious metals project in Japan, where drill preparations are nearing completion.

Four drill rigs are in place and ready to mobilize near the company’s project exploration bases in Hokkaido and Kyushu, where Japan Gold is planning a cumulative 5,100 metre program on two prospective targets.

Shares of Japan Gold rose 6% in Toronto to C$0.27 by, up 4.7% at US$0.20 in New York by Friday's close. 

READ: Japan Gold continues to push its gold projects in Japan forward

At the Ohra-Takamine project on the island of Kyushu, the Vancouver-based explorer will drill 2,100 metres under and along strike of three historic mines located on the property. Drilling is expected to commence in June.

On Hokkaido island, drilling is anticipated to begin in July at the Ikutahara project and focus on the Kitano-o prospect. Japan Gold is planning a 3,000 metre drill program on the target.

The Japanese Ministry of Economy, Trade and Industry is currently processing drill permits for the Ikutahara and Ohra-Takamine targets.

According to Japan Gold, the scale of the drill program and required permitting at Ikutahara are largely unprecedented in protected forest and have entailed comprehensive procedures, accounting for the lengthy permitting process.

"The company is well positioned to execute its drilling program in Hokkaido and Kyushu this summer,” said Japan Gold’s CEO, John Proust. “The extensive permitting process required for approval of drilling activity in protected forest has been a valuable experience for the company and bodes well for future activities."

READ: Japan Gold has a first-mover advantage when it comes to gold exploration in Japan

Additional drill locations at both projects are being permitted concurrently so that immediate follow-up drilling can take place pending assay results.

Permitting for 3,650 metres of drilling at the Ryuo Prospect in the Ikutahara Project will also be progressed during the first half of 2019, Japan Gold said in a statement.

Drilling will be a cooperative effort between the Japanese company Welltech LLC and Japan Gold’s team of international drillers.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Japan Gold

Price: 0.27 CAD

TSX-V:JG
Market: TSX-V
Market Cap: $37.83 m
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Japan Gold Corp starts drilling program at Ohra-Takamine project in Kyushu

Japan Gold (CVE:JG-OTCQB:JGLDF) President and CEO John Proust sat down with Steve Darling from Proactive Investors in Toronto with the news the company has started this maiden drilling program at their Ohro-Takamine project in Japan. Proust explaining what they will be doing and why a...

on 27/6/19

2 min read