The three mining rights comprise numerous gold-bearing epithermal quartz veins
Canadian mineral exploration company Japan Gold has signed a joint venture agreement with Koatsu Kogyo (KKC) to acquire three mining licences, collectively called the Kowa project, in Southern Kyushu Japan.
The 389ha mining licenses, which adjoin the Japan Gold’s Ohra-Takamine project and the Barrick Alliance Mizobe-Onoyama project, is planned to be included in the Barrick Alliance.
Japan Gold said that the mining rights comprise numerous gold-bearing epithermal quartz veins.
The deal provides Japan Gold with complete coverage over strike extensions to the Ohra-Takamine mineralization corridor. It will also have rights on numerous under-explored veins contained within the properties.
Japan Gold will have the exclusive right to explore the properties
As per the terms of the JV deal, Japan Gold will have the exclusive right to explore the properties in exchange for commitment to fund the exploration and development and pay Mining Right taxes.
Additionally, the company will have the right to acquire 100% equity in the mining rights by funding through to pre-feasibility.
Japan Gold chairman and CEO John Proust said: “We’re very pleased to sign this joint venture agreement with the Koatsu Kogyo Corporation.
“The joint venture covers a strategic and under-explored gap in the Company’s extensive portfolio in the very prospective Southern Kyushu Epithermal Gold Province.”
In September this year, Japan Gold said its alliance with Barrick Gold has acquired the Kanehana project in the Kitami Metallogenic province of Hokkaido, Japan.
Japan Gold is focused on exploration across the three largest islands of Japan that include Hokkaido, Honshu, and Kyushu.
It has a country-wide alliance with Barrick Gold to jointly explore, develop and mine certain gold mineral properties and mining projects.