Four drill rigs are in place and ready to mobilize near the company’s project exploration bases in Hokkaido and Kyushu, where Japan Gold is planning a cumulative 5,100 metre program on two prospective targets.
Shares of Japan Gold rose 6% in Toronto to C$0.27 by, up 4.7% at US$0.20 in New York by Friday's close.
At the Ohra-Takamine project on the island of Kyushu, the Vancouver-based explorer will drill 2,100 metres under and along strike of three historic mines located on the property. Drilling is expected to commence in June.
On Hokkaido island, drilling is anticipated to begin in July at the Ikutahara project and focus on the Kitano-o prospect. Japan Gold is planning a 3,000 metre drill program on the target.
The Japanese Ministry of Economy, Trade and Industry is currently processing drill permits for the Ikutahara and Ohra-Takamine targets.
According to Japan Gold, the scale of the drill program and required permitting at Ikutahara are largely unprecedented in protected forest and have entailed comprehensive procedures, accounting for the lengthy permitting process.
"The company is well positioned to execute its drilling program in Hokkaido and Kyushu this summer,” said Japan Gold’s CEO, John Proust. “The extensive permitting process required for approval of drilling activity in protected forest has been a valuable experience for the company and bodes well for future activities."
Additional drill locations at both projects are being permitted concurrently so that immediate follow-up drilling can take place pending assay results.
Permitting for 3,650 metres of drilling at the Ryuo Prospect in the Ikutahara Project will also be progressed during the first half of 2019, Japan Gold said in a statement.
Drilling will be a cooperative effort between the Japanese company Welltech LLC and Japan Gold’s team of international drillers.
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