Canadian-headquartered Japan Gold has signed a joint venture deal with Koatsu Kogyo to acquire three mining licences in Southern Kyushu known as the Kowa project.
The rights, which total 389 hectares, are adjacent to Japan Gold’s Ohra-Takamine project and the Barrick Alliance Mizobe-Onoyama project. It will be wrapped into the Barrick Alliance.
Under the outlines of the JV, Japan Gold has rights exclusively to explore the properties; in return, it commits to fund exploration and development as well as pay Mining Right taxes.
The operator also can acquire total equity to the mining rights in exchange for funding through to pre-feasibility. A joint technical committee will oversee exploration and development activities, and Japan Gold will be manager for oversight of work.
The company confirmed that, as part of the Alliance regional assessment programmes, it will commence investigations in early 2021 to evaluate prospectivity along with definition of drill targets.
Japan Gold’s efforts are focused on gold exploration on the three largest islands of Japan: Hokkaido, Honshu, and Kyushu.