- Irving Resources (CSE:IRV) has a signed a term sheet agreement to acquire 5.25 square kilometres of the Yamagano mining license in Japan
- The licenses are located 11 kilometres from the region’s high-grade Hishikari gold mine
- The Yamagano Mining district is a historic gold producing district in Japan, which has been mined since 1640 AD
- The company’s are now entering into a binding agreement, with further details to be released upon signing
- Irving Resources (IRV) is up five per cent and I trading at C$2.69 per share
Irving Resources (CSE:IRV) has a signed a term sheet agreement to acquire 5.25 square kilometres of the Yamagano mining license in Japan.
Yamagano is a the host of extensive high-grade gold sites, including the Hishikari gold mine. The company’s licenses are 11 kilometres from the Hishikari gold mine.
Yamagano has been home to Japanese gold mining since 1640 AD, with a multitude of high grade epithermal gold veins hosted within volcanic rock.
The tenement Irving is acquiring has never been explored using modern technology, such as drilling work.
Irving and the owner company, Shimadzu Ltd, have already begin the work on a definitive option agreement, with the terms to be announced soon.
Irving resources has also received a regulatory tick from the Kyushu Bureau of Economy, Trade and Industry, regarding the 23 new mineral prospecting licenses.
Quinton Hennigh, a Director and Technical Advisor at Irving, said the company was delighted to begin securing the Yamagano mining district and described the property as one of the mining crown jewels of Japan.
“This gold field is the major nearest neighbour to the famous Hishikari gold mine and, remarkably, has seen. no modern exploration including drilling.
“In addition, we have secured tenure over four similarly prospective, yet unexplored gravity highs, the Satsuma blocks, southwest of Yamagano.
“Irving is now similarity well-positioned with a high-quality epithermal gold project in Kyushu as it is in Hokkaido,” he said.
Irving Resources (IRV) is up five per cent and is trading at C$2.69 per share at 12:40 pm EDT.
