Following a desktop review of historical gold production and Japan’s extensive geoscientific database, Southern Arc Minerals has applied for exploration licences in Japan through its wholly-owned subsidiary, Southern Arc Minerals Japan Inc (SAMJ).
The subsidiary has lodged 38 contiguous exploration applications in northern Hokkaido targeting high-grade epithermal gold deposits.
Meanwhile, in May the Indonesian Government announced another two-year extension to the Indonesian forestry moratorium, which is now expected to expire in May 2017. Southern Arc’s East Elang property, which is being advanced in partnership with Vale International SA is subject to forestry moratorium and, as a result, the partners are not able to initiate exploration at the property until the forestry moratorium is lifted.
In 2014 Southern Arc received a one-year suspension of the exploration IUP ‘clock’ at the East Elang project, effectively extending its exploration tenure to December 2018. As a result of the moratorium extension, Southern Arc will likely request another extension to its IUP to ensure Southern Arc and Vale have adequate time to explore the property once the forestry moratorium is lifted.
In April 2015, Southern Arc appointed two new directors - John Carlile and Morris Klid. David Stone has stepped down as a director but will continue with the company as a strategic advisor.
John Carlile is a geologist with more than 35 years of experience in the resource industry. He has held senior executive and director positions with both major and junior resource companies, and has served on the boards of several resource companies. He currently holds the position of director for Equator Gold and ARC Exploration.
Morris Klid has worked as an entrepreneur for more than 30 years, providing innovative services primarily in the corporate due diligence, legal, financial, and search and registration markets. He established the Cyberbahn Group of Companies, which was acquired by Thomson Reuters in 2008. He is currently involved in angel financing for several companies, and actively participates as an advisor and board member for all.