Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Irving Resources Inc (IRV) has intersected high-grade silver and gold at the Omu Gold Project in Hokkaido, Japan
  • Highlights of the drill results include 27 grams per tonne of gold and 40.5 grams per tonne of silver, both at three metres
  • One of the drill tests was lost in the sampling. the company cited bad ground as the reason for the loss.
  • The company will commence phase two of the drilling in April and May of this year
  • Irving Resources Inc.’s (IRV) was down dropped 13.69 per cent, with shares currently trading at C$3.91.

Irving Resources Inc (IRV) has encountered further high-grade gold and silver at its Omu Gold Project, in Hokkaido, Japan.

The results include three metres of gold at 27 grams per tonne and silver at 40.5 grams per tonne.

One of the deep drill tests was lost to bad ground during the gathering of these samples.

The company has been involved in exploration at the site since 2016 and initiated phase drilling last year.

The gold mines on Hokkaido, an island in the deep north of Japan, were initially developed in the 1800’s but many were closed during WWII so miners could focus on metals required for the war effort.

After the war many of the mines remained closed.

The Omui mine, which is the main focuses of Irving Resources’ exploration, was operational between 1925 and 1928. The main ore vein recorded a 120-meter section of gold at 21.5 grams per tonne and silver at 600 grams per tonne.

Developing their prospects in Japan is the main focus of Irving Resources’ 2020 campaign. Phase II drilling will begin across the company’s targets in April and May of this year after the winter snow melts and the area becomes more accessible. 

The company ceased trading before the announcement and commenced again 30 minutes later.

Despite this news Irving Resources Inc.’s (IRV) was down dropped 13.69 per cent, with shares currently trading at C$3.91.

More From The Market Herald

" Trailbreaker Resources (TSXV:TBK) mobilizes at gold project

Trailbreaker Resources (TBK) is mobilizing crews to its Atsutla Gold Project.

" Fireweed Metals Corp.(TSXV:FWZ) begins gravity survey

Fireweed Metals (FWZ) has started a ground gravity survey at its Gayna River Project.
The Market Herald Video

" K9 Gold (TSXV:KNC) begins 2022 drill program, updates 2021 assays

K9 Gold (KNC) has commenced its 2022 drill program and updated its 2021 assays.
Image via Slave Lake Zinc Corp.

" Slave Lake Zinc (CSE:SLZ) expands property

Slave Lake Zinc (SLZ) is expanding its O’Connor Lake zinc-lead-precious metals property.