Japan Gold Corp has expanded its project portfolio in Japan with the addition of the Tenryu project and an extension to the Buho project. The company's project portfolio now comprises 59,606 hectares over 12 separate projects on the three main islands of Japan.
The Ministry of Economy, Trade and Industry (METI) has accepted a total of seven new prospecting rights applications totaling 2269.2 hectares. Japan Gold now holds priority over these areas and is authorised to commence surface exploration.
Tenryu consists of four contiguous prospecting rights applications covering 1267 hectares and is 3km southeast of Japan Gold’s Aibetsu project.
Little information is available on the Tenryu workings which closed in the early 1940s, however a cyanide gold extraction plant was located 4km downstream of the now collapsed portal which is believed to have processed ore from Tenryu and other workings nearby in the early 1940s.
Tenryu is hosted in similar volcanic stratigraphy to the historic mine workings within the Aibetsu project, the most prominent of which, Tokusei, produced 38,580 ounces of gold and 472,620 ounces of silver between 1930 and 1942.
An initial reconnaissance survey of the area is planned to be completed this year so the project may be ranked against Japan Gold’s other projects for work prioritisation.
The Buho project is on the southern margin of the Akaigawa caldera in the Sappaoro-Iwanai mineral district of southwest Hokkaido, which hosts over 65 hydrothermal metallic deposits.
The extension comprises three contiguous prospecting rights applications surrounding the existing Buho block. Buho now comprises four applications covering 1589 hectares.
Workings were explored by the Austpac/Nishio Iwai Joint Venture between 1988 and 1992.
The presence of silica-sinter deposits at surface indicate the epithermal system is well preserved or not eroded. The new applications are designed to cover potential extensions of the known vein system to the north under younger volcanic cover.
The scale of the area will allow Japan Gold’s geologists to rapidly complete detailed mapping this year and make decisions for further work requirements including geophysical-electrical methods and ultimately drill testing next year.
Japan Gold's chairman and CEO John Proust said, “We are pleased to advance our strategy of acquiring and developing underexplored gold projects in historically productive gold districts in Japan.
"These gold targets have not yet been exposed to modern exploration techniques and offer excellent opportunities for potential new discoveries. We look forward to advancing our asset base in this first world jurisdiction.”