Japan Gold jumps on alliance with Barrick Gold
Japan Gold (TSXV:JG) said Monday it has formed a country-wide alliance with Barrick Gold (TSX:ABX).
Japan Gold was up 18% to 38 cents a share today.
The alliance covers 28 out of 30 projects currently held by Japan Gold. Two projects are outside the alliance.
Per the agreement Barrick will fund expenditures for projects. Barrick can earn a 51% interest by sole funding and completing a prefeasibility study for the project.
Japan Gold is a mineral exploration company focusing on Japan.
"We are pleased to partner with Japan Gold, who have assembled an impressive portfolio of exploration tenements within the renowned epithermal gold provinces of Japan. We look forward to advancing our partnership by combining Barrick's technical and financial resources with Japan Gold's first mover advantage, to deliver new world class gold discoveries," said Barrick's CEO, Mark Bristow.