JAPAN – Japan’s Ministry of Economy, Trade and Industry has approved Irving Resources’ Otoineppu prospecting plan at its Omu Sinter prospect, part of its 100% owned Omu gold-silver project near Hokkaido.
Irving will now submit a mine safety regulation permit to the Japanese government. The company meanwhile is trying to get work permits for a Canadian drill crew to run an upcoming drill program. The company brought a drill to Omu last year, and it recently built a drilling and core processing yard about 1 km from Omu Sinter.
Last October, Irving sampled high grade quartz vein float at Omu. Irving geologists found banded quartz vein along newly built logging roads near the historic Hokuryu mine while following up on stream sediment anomalies.
Samples Irving took along a 1 km northwesterly trend beginning 700 metres west of Hokuryu include: 35.2 g/t gold and 568 g/t silver; 59.8 g/t gold and 1,245 g/t silver; 36.3 g/t gold and 1,000 g/t silver; and 39.7 g/t gold and 708 g/t silver.
Shortly after the samples were taken, the Japanese government approved Irving’s Omui mine plan, which covers drilling and bulk sampling at its Omui prospect, also part of the Omu project.
In late November 2018, the company raised more than $2 million by issuing 1.89 million shares at $1.10 per share. The company plans to use the private placement to fund further exploration in Japan.
Shares of Irving are currently trading at $1.91 with a 52-week range of 62¢ to $1.93. The company has a $60 million market capitalization.
This story first appeared on www.NorthernMiner.com.