Irving Resources Receives Approval of Prospecting Applications at its Sado Island Gold Project, Japan
VANCOUVER, British Columbia, April 17, 2018 (GLOBE NEWSWIRE) -- Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Irving Resources Japan GK, has recently received approval of all prospecting licenses from the Ministry of Economy, Trade and Industry (“METI”), Kanto Bureau at its Sado Island Gold Project, Japan.
As discussed in the Company’s news release dated May 4, 2017, Irving filed applications for 25 mineral prospecting licenses totaling 86.53 sq km (865,301 hectares) covering a prospective area on Sado Island, a small island west of Honshu Island, Japan (Figure 1). METI’s recent approval of these licenses gives Irving 100% rights to mineral resources covered by these claims.
Sado Island is host to the Sado Kinzan gold mine (Mitsubishi Materials Corporation) and around 30 smaller mines. Gold was discovered at Sado Kinzan in 1601 and was mined continuously for 388 years making it one of the longest lived gold mines on earth. Recorded production totals 2.51 million oz Au (average grade 5.2 gpt) and 74 million oz Ag (average grade 153 gpt). Veins at Sado Kinzan are classed as epithermal but are unusual because they were productive over vertical distances of several hundred meters. Such vertical continuity is more typical of alkaline gold deposits. Extensive potassic alteration in the form of adularia, potassium-rich feldspar, is common at Sado Kinzan, and gold and silver telluride minerals are present, both attributes common to alkaline gold deposits. Irving’s view is that Sado Kinzan is a hybrid epithermal-alkaline gold deposit.
Ground reconnaissance by Irving in 2017 identified areas of significant adularia alteration across the Sado Island license area. Pieces of vein float similar to that at Sado Kinzan were also identified. Irving plans to undertake specialized stream sediment sampling using a technique called bulk leach extractable gold (“BLEG”) in a few weeks time. BLEG sampling produces highly sensitive results that can help identify new mineralized areas and was proven to work well at Irving’s Omu Gold-Silver Project, Hokkaido (please refer to the Company’s news release dated January 3, 2018 for further details).
Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
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