VANCOUVER, BC / ACCESSWIRE / October 17, 2024 / Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF) ("Irving" or the "Company") is pleased to announce that, further to its news releases of June 6 and January 23, 2024, it has entered into an agreement with Newmont Overseas Exploration Limited ("Newmont"), a wholly-owned subsidiary of Newmont Corporation, and Sumitomo Corporation ("Sumitomo") in respect of the formation of a joint venture over the Yamagano and Noto properties. The initial interests of the parties in the joint venture are Newmont as to 60%, Irving as to 27.5% and Sumitomo as to 12.5%.
Irving will be the initial manager of the joint venture. Newmont has the right to assume the responsibilities of manager at any time.
"Irving entered Japan, because it views the potential for discovering large epithermal gold deposits to be very favorable", commented Dr. Quinton Hennigh, director and geologic advisor to Irving. "With support from Newmont and Sumitomo, Irving has been able to consolidate the historically important Yamagano mining district, site of one of the earliest large-scale high-grade veins deposits mined in the country. Yamagano is the closest mining district to Sumitomo Metal Mining's famous Hishikari gold mine, one of the largest high-grade epithermal vein deposits on earth. Technical work suggests similar geological characteristics are evident at Yamagano to those observed at Hishikari. While the targeted veins are blind at depth, our first drill hole has already confirmed the presence of high-grade veins well outside of areas underlain by historic mining activities. This is a project that will require successive deep drill holes to test for "Hishikari" type potential, but the prize could be substantial. Irving recently completed a second diamond drill hole at East Yamagano and is now mobilizing to drill its third hole."
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving resulted from completion of a plan of arrangement involving Irving, Gold Canyon Resources Inc. and First Mining Finance Corp. Additional information can be found on the Company's website: www.IRVresources.com.
Akiko Levinson,
President, CEO & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 971-0209
info@IRVresources.com
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SOURCE: Irving Resources Inc.
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