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Barrick and Japan Gold approve 2021 exploration budget

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(Kitco News) - Japan Gold (TSXV: JG) (OTCQB: JGLDF) announced Tuesday the approval by the Barrick Alliance of a USD $4 million dollar budget, solely funded by Barrick Gold, to complete the proposed 2021 regional exploration work programs in Japan.

The company said that the approved 2021 budget and work programs will complete the 2-year initial evaluation phase regional exploration over the expanded 29 project portfolio covering 1,889 square kilometers, with Japan Gold acting as the operator.

Regional exploration programs commenced following formation of the Barrick Alliance on February 23, 2020. The exploration programs are aimed at identifying new gold prospects through the systematic sampling of stream sediments for bulk leach extractable gold, and gold and multi-element pathfinder analysis of rock samples.

Japan Gold added that the results from the 2020 exploration programs completed on eight Kyushu projects and three Hokkaido projects have identified 19 distinct gold anomalies. The detailed evaluation of these anomalies will commence immediately and is expected to be complete by November 2021.

Japan Gold is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold to jointly explore, develop and mine certain gold mineral properties and mining projects.

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