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Be the first with the news that moves the market- Irving Resources Inc (CSE:IRV) has resumed drilling at its Japanese mine, as the region currently has no confirmed cases of COVID-19
- The company is exploring a mineral vein that extends from its Omu Sinter site across to the Omui Mine site two kilometres away
- The vein has returned assays of 27 grams of gold per tonne and 40.5 grams of silver per tonne over three metres
- Drilling suggests the vein is shallow, allowing for reduced production costs during extraction
- Irving Resources Inc (IRV) is down 8.7 per cent, with share trading at C$2.60 and a market cap of $139 million
Irving Resources Inc (CSE:IRV) has resumed drilling at the Omui Mine site in Hokkaido, Japan, as the region currently has no confirmed cases of COVID-19
Both drill targets lie in the Omu Gold Project, a 100 per cent Irving Resources owned gold play in the Omu region of Japan.
Following a review of the COVID-19 situation in the Omu region, Irving has reignited exploration at the site. The region has not had a single reported case of COVID-19, thus far.
The Omui Mine site’s drill program includes one drill hole (Hole 20) aimed at offsetting veins discovered by another hole (Hole 19) late last year.
Hole 19 has previously returned impressive assays of 27 grams of gold per tonne and 40.5 grams of silver per tonne over three metres.
Irving has committed significant resources to doubling down on its planned drilling at Omui, with 8 more diamond drill holes planned for the site.
At the Omu Sinter site, Irving completed a Q1 2020 follow up drilling program, on the back of its encouraging 2019 program.
Results included a 2.70-meter vein grading at 4.7 grams per tonne gold and 92.2 grams per tonne silver.
At this site, the company is drilling what is believed to be shallow surface mineral deposits formed within a shallow hot spring pool at the top of hot spring system.
This type of mineralization is generally quite profitable as sits close to the surface, requiring less infrastructure and time to dig the resource out. However, they have a tendency to be smaller deposits then other types of gold veins.
The company’s technical advisor Dr Quinton Hennigh said the company was pleased drilling could recommence at the Omu site.
“Our first 2020 hole commenced last week and follows up on veins encountered in (Hole 19) last season.
“We have a robust drill program planned over the next several months designed to more fully evaluate this exciting new vein system.
“Recent holes completed at Omu Sinter have given us more insight into that target,” he said.
Irving Resources Inc (IRV) is down 8.7 per cent, with share trading at C$2.60 and a market cap of $139 million
