Japan Gold (TSXV: JG) has seen a second drill program get underway as part of their alliance with Barrick Mining. The latest program targets the Ebino Project, which is found on the Japanese island of Kyushu.
The drill program is set to see a total of 1,300 metres of drilling in aggregate conducted across a total of three drill holes. The program aims to test the Otsuki and Kuwanoki-Zuri targets, which are found within the Hokusatsu district.
The district historically has produced over 13 million ounces of gold and is said to be one of the most prospective regions in the country. It is also home to the Hishikari Mine, operated by Sumitomo Metal Mining Co, alongside three major historical mines. Hishikari along has historically produced over 9 million ounces of gold, with 5 million ounces currently remaining in reserves. Japan’s only active gold mine, the mine is also one of the highest grade gold mines globally.
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Ebino is found 10 kilometres to the north of the Hishikari mine, and is also 8 kilometres east of the historic Ohkuchi Mine. Historic exploration on site has identified three alteration areas, however limited historic drilling has occurred at Ebino. Geophysics has suggested a 3.0 by 3.6 kilometre magnetic alteration is centered over the Otsuka and KZ targets, with the magnetic footprint larger than what has been mapped out on the ground.
“Drilling at Ebino aims to test the potential for concealed epithermal veins systems under cover of volcanic material to the north of the Hishikari Mine and to further unlock the district-scale potential of the Hokusatsu region. This area has been under explored since the discovery of the high-grade Hishikari deposit in 1981, and we have worked closely with the Barrick technical team to identify robust targets for drill testing with the potential to host concealed orebodies,” commented John Proust, CEO of Japan Gold.
The program, fully funded by Barrick, is the second such program currently underway under the Barrick Alliance. A program is also ongoing on the Hakuryu Project on the northern island of Hokkaido.
Japan Gold last traded at $0.09 on the TSX Venture.
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