SUMIKO Resources Exploration & Development Co Ltd (SRED) will manage and operate the Japanese drilling programs for Japan Gold Corp. To support the new contract, Japan Gold is purchasing three diamond core drill rigs, which will be operated by SRED.
SRED, which is a subsidiary of major non-ferrous metal mining and smelting company Sumitomo Metal Mining Co Ltd, offers consulting services for resource exploration and environmental investigation using geological, geophysical exploration and related technologies, including drilling.
SRED was instrumental in the prospecting, development and exploitation of the Hishikari mine, Japan’s largest and highest grade operating gold mine.
The three portable rigs are being purchased from PT Promincon Indonesia (PMC) for US$544,000. PMC manufactures a range of portable diamond drill rigs and is an established diamond core drilling contracting company incorporated in Indonesia.
Japan Gold believes acquisition of the two PMC400 drill rigs and one PMC700 drill rig will give it independence and flexibility on the timing and execution of its drill programs. In addition, it sees cost saving benefits of owning drill rigs.
The compact nature of these diamond drill rigs allows for rapid set-up, move and the remediation of drill sites. They also have a smaller environmental footprint when compared to conventional equipment.
Japan Gold’s chairman and CEO John Proust said, “We are very pleased to partner with SRED in this new venture. Their experience and reputation in Japan is unsurpassed and will be particularly valuable as we seek to unlock the potential of our large project portfolio. Undoubtedly, this partnership will enhance the capability and credibility of Japan Gold Corp.”
Japan Gold has been granted 23 of its 56 prospecting rights licence applications over the Ikutahara Gold Project in Northern Hokkaido. Granting of these rights authorises the company to commence more advanced exploration methods, including drilling.
The 19,114-hectare Ikutahara project comprises 56 prospecting rights licence applications covering 16 historic gold mines and workings. Twenty-three applications, covering 8033 hectares, including the high priority Akebono target, have been granted.
Detailed mapping and geochemical sampling completed at Ikutahara in 2016 identified high priority targets for further testing. The company has lodged detailed drill plans to prepare drilling permits on high-priority targets.