- Japan Gold (TSXV:JG) is expanding its landholdings at the Sanru Gold project in Northern Hokkaido, Japan
- The junior gold explorer has picked up 24 new prospecting licenses for properties bordering the Sanru project
- The additional licenses total 7,700 hectares, bringing the total project size to 31,800 hectares
- The Sanru project is part of Barrick Gold’s country-wide exploration initiative, The Japanese Gold Alliance
- Japan Gold (JG) is up 1.8 per cent and is trading at C$0.27 per share, with a market cap of $41 million
Japan Gold (TSXV:JG) is expanding its landholdings at the Sanru Gold Project in Northern Hokkaido.
The company picked up its supplementary prospecting rights from the Japanese Ministry of Economy, Trade and Industry.
The company has acquired 24 new applications totalling 7,711 hectares.
The applications cover prospective ground with some tertiary geology along the eastern side of the Sanru project. Irving Resouces’ Omu Project sits just north of the new mineral licenses.
This brings Japan Golds Sanru gold project to a total of 31,822 hectares.
The project is part of Barrick Gold’s country-wide exploration initiative, The Japanese Gold Alliance.
The Sanru project covers five sites where mining activity has been previously conducted, including the historic Sanru Mine, the second largest mine in the region.
The Sanru project sits atop one of two large gold veins, which stretch across the Kitami region of Northern Hokkaido.
The region was thoroughly explored up until the mid 1970’s, before mining work dried up in the region.
To date, Sanru has produced 225,000 ounces of gold at a 7.4 grams per tonne gold grade, alongside 1.4 million ounces of silver.
CEO and Chairman of Japan Gold, John Proust said the new acquisition continued the company’s pattern of evaluating prospective Japanese geology.
“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 Omni mine close by to the north.
“We look forward to the Barrick Alliance evaluation of the Sanru Project over the coming months,” he said.
Japan Gold (JG) is up 1.8 per cent and is trading at C$0.27 per share at 1:42 pm EDT.