Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) said Thursday that Japanese regulators have accepted the firm’s application for new prospecting rights that cover extensions to its Sanru epithermal gold project.
The new applications total 7,711 hectares and cover prospective tertiary geology along the eastern side of Sanru, as well as Irving Resources’ Omu project to the north.
Sanru, which now comprises 31,822 hectares, is included in the Vancouver-based company’s recently forged alliance with mining major Barrick Gold.
Located in the Kitami region of northern Hokkaido, Sanru covers five known mine workings that are thought to be fault-controlled with potential to host similar mineralization as the historical Sanru Mine, which produced 225,000 gold ounces grading at an average of 7.4 grams per ton.
"This new acquisition continues our ongoing evaluation of the prospective geology in Japan,” John Proust, Japan Gold's CEO said in a statement.
“The decision to further extend the Sanru Project was based upon the favourable structural controls on mineralization, host rock geology and the proximity of the Omui mine close by to the north. We look forward to the Barrick Alliance evaluation of the Sanru Project over the coming months."
Japan Gold has a portfolio of 30 gold projects across three of Japan’s largest islands: Hokkaido, Honshu and Kyushu. The firm has a country-wide alliance with Barrick to jointly explore, develop and mine certain gold projects.
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