Loading ...Barrick (TSX: ABX) (NYSE: GOLD) and Japan Gold (TSX-V: JG) are expanding their footprint in the Asian country with the acquisition of the Kanehana project, which comprises 40 new claims and covers seven historic gold mines.
The asset spans 12,431 hectares and adjoins the west side of the Japan Gold’s Ikutahara project on the island of Hokkaido, the country’s second largest.
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Under a venture formed in February, known as Barrick Alliance, the companies will explore seven historic gold mines in the Kanehana project: Muka, Jindai, Jomon, Hokushin, Kokka, Hyakuhan and Souryu.
Combined, the Kanehana and Ikutahara projects cover a 25-kilometre strike-zone. Among the mines in this area is the region’s third-largest gold producer, the Kitano-o mine.