The new licenses cover nearly 1,400 hectares to the north near historic workings at the Toge Hill, Asada Ridge and Akebono prospects and cover potential extensions to the prospects at the northern end of the Kitano-o gold district.
Kitano-o includes four historic gold mines and workings over a six- by three-kilometre area.
"The discovery of the Toge and Asada prospects has significantly expanded the Kitano-o Gold District mineralization further to the north,” said CEO John Proust.
“The acceptance of the four new prospecting rights applications gives us confidence that we have covered all prospective ground in the area.”
In 2018, two new areas of significant quartz veining were identified at the Toge Hill and Asada Ridge prospects, extending Kitano-o to the north. Further drilling at the targets will test unconformity targets similar to those that host the Hishikari mine in Kyushu, Japan Gold said in a statement.
“This year, more detailed work is planned for the Toge and Asada prospects and will include soil sampling and possibly CSAMT geophysical techniques, if warranted, to further enhance drill targeting,” the company told investors in a release.
The Akebono prospect is located one kilometre along strike to the northeast of Toge and Asada and hosts high-grade gold sampled in underground workings including a 1.2-meter wide vein interval of 446 grams per ton gold and 376 grams per ton silver.
Japan Gold is also planning a 3,000 metre scout drilling program at Kitano-o later this month. The drill program is designed to target boiling zones in veins beneath the extensive eluvial surface workings.
Shares nudged up nearly 2% in Toronto to $0.26.
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas