ancouver, British Columbia – (Marketwired – May 4, 2017) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Irving Resources Japan GK, has recently acquired a new gold project, on Sado Island, Japan.
Sado Island Gold Project
Irving recently 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). All applications have been accepted by the Ministry of Economy, Trade and Industry (“METI”), Kanto Bureau, and a multi-step review now begins for the final approval. Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) is assisting the Company throughout the process.
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 (Figure 2) but are unusual because they were productive over vertical distances of several hundred meters. Such vertical continuity is typical of some 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. Adularia and tellurides are common to alkaline gold deposits. Such attributes form Irving’s view that Sado Kinzan is a hybrid epithermal-alkaline gold deposit.
Recent field inspection of Irving’s newly staked ground identified areas of significant adularia alteration in and around locations of historic alluvial gold mining activity. Therefore, Irving believes its new licenses are prospective for vein mineralization similar to that at Sado Kinzan. Reconnaissance fieldwork is planned for later this year.
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 searching for opportunities in certain countries, including Japan. In addition to its Japanese precious metals projects, Irving holds, through a subsidiary, three Project Venture Agreements with 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.
President & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 682-0537
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry as well as Irving having sufficient cash to fund any planned drilling and other exploration activities.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
(Figure 1: Map showing Irving’s Sado Island mineral prospecting licenses.)
(Figure 2: High grade vein material from Sado Kinzan comprised of white bands of quartz and adularia and grey bands of silver sulfosalts, tellurides and specks of electrum, a natural Au-Ag alloy. This float sample was recently collected by Irving staff from a stream below the Sado Kinzan deposit.)