Barrick Gold Alliance in Japan Recorded Notable Progress in Exploration

SEATTLE (Scrap Monster): The joint venture project between Barrick Gold and Japan Gold Corp. announced that it has made significant advances in exploration activities at Kitami region in Japan. The Alliance provided a progress report on the activities in northeast Hokkaido, Japan.

The companies are have completed bulk leach extractable gold (BLEG) and rock chip sampling in 8 out of 14 targets in the southern Kyushu. The field teams have now relocated to northeast Hokkaido, where BLEG and rock float samples are being collected across the Sanru project. Incidentally, this is Japan Gold’s largest gold project which covers approximately 25-kilometer strike length.

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The two companies had kicked off exploration programs in the Asian country in May this year, with the aim of uncovering the country’s gold mining potential. As per the agreement, Barrick Gold will solely fund a two-year initial evaluation phase. It will also fund a third year of exploration on assets that meet its criteria. The evaluation is being led by an executive and a technical committee comprising of representatives from both the companies. The program includes sampling and surveys on the islands of Kyushu, Honshu and Hokkaido.